<SEC-DOCUMENT>0001144204-12-028121.txt : 20120511
<SEC-HEADER>0001144204-12-028121.hdr.sgml : 20120511
<ACCEPTANCE-DATETIME>20120511170207
ACCESSION NUMBER:		0001144204-12-028121
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20120331
FILED AS OF DATE:		20120511
DATE AS OF CHANGE:		20120511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NeoStem, Inc.
		CENTRAL INDEX KEY:			0000320017
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090]
		IRS NUMBER:				222343568
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33650
		FILM NUMBER:		12835381

	BUSINESS ADDRESS:	
		STREET 1:		420 LEXINGTON AVENUE
		STREET 2:		SUITE 450
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10170
		BUSINESS PHONE:		212-584-4171

	MAIL ADDRESS:	
		STREET 1:		420 LEXINGTON AVENUE
		STREET 2:		SUITE 450
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10170

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHASE III MEDICAL INC/DE
		DATE OF NAME CHANGE:	20030819

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNICHE GROUP INC /DE
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL INC
		DATE OF NAME CHANGE:	19951025
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>v311330_10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 10-Q</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings; text-autospace: none">x</TD>
    <TD STYLE="width: 95%; text-autospace: none; font-size: 10pt">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR THE QUARTERLY PERIOD ENDED MARCH 31,
2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings; text-autospace: none">o</TD>
    <TD STYLE="width: 95%; text-autospace: none; font-size: 10pt">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the Transition Period from __________________&nbsp;&nbsp;&nbsp;to
_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number 001-33650</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NEOSTEM, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-autospace: none; text-align: center">DELAWARE</TD>
    <TD STYLE="width: 50%; text-autospace: none; text-align: center">22-2343568</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="text-autospace: none; text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">incorporation or organization)</TD>
    <TD STYLE="text-autospace: none; text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">420 LEXINGTON AVE, SUITE 450</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NEW YORK, NEW YORK</P></TD>
    <TD STYLE="text-autospace: none; text-align: center">10170</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-autospace: none; text-align: center">(zip code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: 212-584-4180</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name, former address and former
fiscal year, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
(1) has 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 the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. &nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 405 of Regulation S-T (&sect;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).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-autospace: none">Large accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="width: 40%; text-autospace: none">Accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Non-accelerated filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Do
    not check if a smaller reporting company)</TD>
    <TD STYLE="text-autospace: none">Smaller reporting company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">132,603,494 <FONT STYLE="color: black">SHARES,
$.001 PAR VALUE, AS OF May 4, 2012</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(Indicate the number of shares outstanding
of each of the issuer's classes of common stock, as of the latest practicable date)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 78%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; text-autospace: none; font-weight: bold; text-align: center; vertical-align: bottom">Page No.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-autospace: none">Part I&nbsp;&nbsp;- Financial Information:</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 1.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Consolidated Financial Statements (Unaudited):</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Consolidated Balance Sheets At March 31, 2012 and December 31, 2011</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Consolidated Statements of Operations for the three months ended March
    31, 2012 and 2011</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2012 and
    2011</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Consolidated Statements of Equity for the three months ended March 31, 2012 and the year
    ended December 31, 2011</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Consolidated Statements of Cash Flows for the three months ended March
    31, 2012 and 2011</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">7</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Notes to Unaudited Consolidated Financial Statements</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">8</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 2.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Management&rsquo;s Discussion and Analysis of Financial Condition and
    Results of Operations</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 3.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Quantitative and Qualitative Disclosures About Market Risk</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">33</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 4.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Controls and Procedures</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">33</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-autospace: none">Part II - Other Information:</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 1.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Legal Proceedings</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 1A.</TD>
    <TD STYLE="text-autospace: none">Risk Factors</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 2.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Unregistered Sales of Equity Securities and Use of Proceeds</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 3.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Defaults Upon Senior Securities</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 4.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Mine Safety Disclosures</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 5.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Other Information</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">Item 6.</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Exhibits</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">35</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Signatures</TD>
    <TD STYLE="text-autospace: none; text-align: right; vertical-align: bottom">36</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I. FINANCIAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Item 1. Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left; padding-left: 9.35pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">21,771,389</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,642,147</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Accounts receivable trade, net of allowance for doubtful accounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 18.7pt">of $630,707 and $501,841, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,438,972</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,536,176</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">Inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,982,323</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,153,396</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">628,499</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">463,689</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Prepaids and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,154,614</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,427,328</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Assets related to discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,793,457</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,975,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,016,193</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 28.1pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,327,890</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,106,439</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Land use rights, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,875,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,872,444</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">Goodwill</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,666,460</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,613,470</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Intangible assets, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,273,850</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,932,431</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,164,428</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,786,803</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">167,284,301</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">155,327,780</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES AND EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,395,210</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,237,524</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,430,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,796,018</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Bank loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,810,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,712,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">254,387</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">148,062</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Mortgages payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,582,072</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,635,061</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Income taxes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,073,313</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">621,553</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">655,125</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">651,064</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Unearned revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,934,966</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,436,532</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Liabilities related to discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">208,830</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,135,383</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,446,644</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 28.1pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Long-term Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,171,633</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,300,945</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Unearned revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">156,466</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">169,198</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,775</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">387,172</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">474,463</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Acquisition-related contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,130,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,130,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Amount due related parties</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,293,056</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,862,686</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Total long-term liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,189,102</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,937,292</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 28.1pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Commitments and Contingencies</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Redeemable Securities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Convertible Redeemable Series E Preferred Stock;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 18.7pt">10,582,011 shares designated, liquidation value $1.00 per share;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 18.7pt">issued and outstanding 5,486,969 and 6,662,748 shares,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 18.7pt">at March 31, 2012 and December 31, 2011, respectively</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,182,482</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,811,326</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 18.7pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,182,482</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,811,326</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 18.7pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Shareholders' Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Preferred stock; authorized, 20,000,000 shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 18.7pt">Series B convertible redeemable preferred stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 18.7pt">liquidation value, 1 share of common stock, $.01 par value;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 18.7pt">825,000 shares designated; issued and outstanding,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 18.7pt">10,000 shares at March 31, 2012 and December 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">Common stock, $.001 par value, authorized 500,000,000 shares;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 18.7pt">issued and outstanding, 129,887,148 and 109,329,587 shares,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 18.7pt">at March 31, 2012 and December 31, 2011, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">129,887</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,330</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">211,635,762</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,858,638</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Accumulated deficit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(152,550,831</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(143,094,854</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Accumulated other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,156,186</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,152,343</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Total NeoStem, Inc. shareholders' equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,371,104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62,025,557</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Noncontrolling interests</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,406,230</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,106,961</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 28.1pt">Total equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">81,777,334</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">80,132,518</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 28.1pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">167,284,301</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">155,327,780</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See accompanying notes to consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">22,056,768</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">19,590,958</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,321,520</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,276,501</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,735,248</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,314,457</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,714,507</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,755,192</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Selling, general, and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,452,200</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,634,895</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Operating Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,166,707</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,390,087</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Operating loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,431,459</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,075,630</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other income (expense):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Other income (expense), net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">166,703</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(250,437</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Interest expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,096,133</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(852,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(929,430</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,102,680</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loss from continuing operations before provision for</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">income taxes and noncontrolling interests</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,360,889</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,178,310</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Provision for income taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">122,261</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">592,648</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss from continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,483,150</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,770,958</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss from discontinued operations - net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,723,718</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(928,800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,206,868</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,699,758</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less - net income attributable to noncontrolling interests</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">141,265</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">473,233</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss attributable to NeoStem, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,348,133</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,172,991</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Preferred dividends</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">107,844</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">186,633</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net loss attributable to NeoStem, Inc. common shareholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,455,977</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(10,359,624</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Basic and diluted (loss) per share attributable to:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.07</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.12</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Discontinued operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.02</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.01</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NeoStem, Inc. common shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.08</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.14</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average common shares outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,806,949</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,654,165</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See accompanying notes to consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(9,206,868</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(9,699,758</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other comprehensive income (loss):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Foreign currency translation elimination on discontinued operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(169,993</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Foreign currency translation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">331,841</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,517,669</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Total other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">161,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,517,669</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Comprehensive loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,045,020</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,182,089</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Comprehensive income attributable to noncontrolling
    interests</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">158,005</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,216,900</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Comprehensive net loss attributable to NeoStem, Inc. common shareholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,203,025</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,398,989</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See accompanying notes to consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Series
    B Convertible<BR> Preferred Stock</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Common
    Stock</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">Additional<BR>
    Paid in</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">Accumulated<BR>
    Other<BR> Comprehensive</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">Accumulated</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">Total <BR>NeoStem,<BR> Inc.<BR>
    Shareholders'</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">Non-<BR>
    Controlling<BR>
    Interest in</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Shares</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Amount</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Shares</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Amount</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Capital</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Income</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Deficit</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Equity</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Subsidiary</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 6pt">Total
    Equity</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 20%; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">Balance at December 31, 2011</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">10,000</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">100</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">109,329,587</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">109,330</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">200,858,638</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">4,152,343</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">(143,094,854</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">62,025,557</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">18,106,961</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">80,132,518</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">Net loss</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">(9,348,133</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">(9,348,133</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">141,265</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">(9,206,868</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">Foreign currency translation</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">3,843</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">3,843</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">158,004</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">161,847</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 6pt">Share-based compensation</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">861,004</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">861</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">2,475,805</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">2,476,666</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">2,476,666</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 6pt">Proceeds from issuance of
    common stock</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">18,465,404</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">18,465</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">7,672,594</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">7,691,059</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">7,691,059</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 6pt">Repayment of Series E Preferred
    Principal and Dividends</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">1,231,153</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">1,231</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">628,725</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">(107,844</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">522,112</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 6pt">522,112</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">Balance at March 31, 2012</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">10,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">100</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">129,887,148</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">129,887</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">211,635,762</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">4,156,186</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">(152,550,831</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">63,371,104</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">18,406,230</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 6pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 6pt">81,777,334</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 6pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See accompanying notes to consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Cash flows from operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 9.35pt">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(9,206,868</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(9,699,758</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Adjustments to reconcile net loss to net cash used in</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 18.7pt">operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Common stock, stock options and warrants&nbsp; issued</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 37.45pt">as payment for compensation, services rendered and interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,476,666</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,018,902</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,170,111</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,203,684</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Amortization of preferred stock discount and issuance cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">471,934</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">676,123</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Changes in fair value of derivative liability</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(87,291</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">262,667</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Loss on exit of segment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,138,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Write off of acquired in-process research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">927,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Non-cash interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">335,107</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83,207</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Contributions paid with common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">607,363</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Bad debt expense (recovery)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">347,927</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,516</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Deferred income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(325,905</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(228,352</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 28.1pt">Changes in operating assets and liabilities, net of the effect of acquisitions:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 37.45pt">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(614,672</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(125,791</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 37.45pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,218,650</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(822,776</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 37.45pt">Inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(726,303</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,050,771</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 37.45pt">Unearned revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">477,635</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(573,210</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 37.45pt">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(362,258</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 37.45pt">Accounts payable, accrued expenses and other current
    liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,230,966</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,471,865</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 18.7pt">Net cash provided by (used in) operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,106,405</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,195,093</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash flows from investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Cash received in acquisitions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">227,942</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Change in restricted cash used as collateral for notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,625,344</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Acquisition of property and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(110,071</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(707,224</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 18.7pt">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(110,071</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,104,626</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Cash flows from financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Net proceeds from issuance of capital stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,691,059</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,592,723</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Repayment of mortgage loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(52,988</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,320</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Proceeds of bank loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,518,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Proceeds from notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">223,433</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,249,117</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Repayment of notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(66,333</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,277,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Repayment of debt to related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(34,673</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,000,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Repayment of preferred stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(575,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 18.7pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,185,498</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,080,520</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Impact of changes of foreign exchange rates</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(52,590</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,679</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net increase/(decrease) in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,129,242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,200,520</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,642,147</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,612,391</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,771,389</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,411,871</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental Disclosure of Cash Flow Information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash paid during the period for:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">620,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">34,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9.35pt">Taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">286,100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,295,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9.35pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Supplemental Schedule of non-cash investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Acquisition of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">389,300</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Capitalized interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">130,100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Supplemental schedule of non-cash financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Common stock and warrants issued with the acquisition of PCT</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,866,200</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Common stock issued pursuant to the redemption of Convertible Redeemable
    Series E 7% Preferred Stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">525,800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">783,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Common stock issued in payment of dividends for the Convertible Redeemable
    Series E 7% Preferred Stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">308,700</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">See accompanying notes to consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 1&nbsp;&nbsp;&ndash; The Business</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Overview</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NeoStem, Inc. (&ldquo;NeoStem&rdquo;
or the &ldquo;Company&rdquo;) was incorporated under the laws of the State of Delaware in September 1980 under the name Fidelity
Medical Services, Inc. The Company&rsquo;s corporate headquarters are located at 420 Lexington Avenue, Suite 450, New York, NY
10170. The Company&rsquo;s telephone number is (212) 584-4180 and its website address is<I> www.neostem.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NeoStem, Inc.
is an international biopharmaceutical company. In 2011, we operated our business in three reportable segments: (i) Cell
Therapy&nbsp;&mdash;&nbsp;United States; (ii) Regenerative Medicine&nbsp;&mdash;&nbsp;China; and (iii) Pharmaceutical
Manufacturing&nbsp;&mdash;&nbsp;China. Effective March 31, 2012, we committed to discontinue operations in the Regenerative
Medicine &ndash; China reportable segment, which is now reported in discontinued operation (see Note 15). We also continue to
pursue the divestiture of the Pharmaceutical Manufacturing - China segment and anticipate it will have been exited by the
close of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Basis of Presentation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The accompanying
unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in
the United States of America (&ldquo;generally accepted accounting principles&rdquo;) for interim financial information and with
the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission for interim financial
information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, the accompanying Consolidated Financial Statements of the Company
and its subsidiaries, which are unaudited, include all normal and recurring adjustments considered necessary to present fairly
the Company&rsquo;s financial position as of March 31, 2012 and the results of its operations and its cash flows for the periods
presented. The unaudited consolidated financial statements herein should be read together with the historical consolidated financial
statements of the Company for the years ended December 31, 2011 and 2010 included in our Annual Report on Form 10-K for the year
ended December 31, 2011. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the
results that may be expected for the year ending December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Use of Estimates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The preparation of
financial statements in conformity with generally accepted accounting principles in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of revenues and
expenses during the reporting period. Accordingly, actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Principles of Consolidation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements
include the accounts of NeoStem, Inc. and its wholly owned and partially owned subsidiaries and affiliates as listed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="width: 42%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">Entity</TD>
    <TD NOWRAP STYLE="width: 1%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; vertical-align: top; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">Percentage
    of Ownership</TD>
    <TD NOWRAP STYLE="width: 1%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 24%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">Location</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">NeoStem, Inc.</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">Parent&nbsp; Company</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">NeoStem Therapies, Inc.</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100%</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">Stem Cell Technologies, Inc.</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100%</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">Amorcyte, LLC</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100%</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">CBH Acquisition LLC</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">100%</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-autospace: none">China Biopharmaceuticals Holdings, Inc. (CBH)&nbsp;&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100% owned by CBH Acquisition LLC</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-autospace: none">Suzhou Erye Pharmaceuticals Company Ltd.</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">51% owned by CBH</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">People&rsquo;s Republic of China</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">Progenitor Cell Therapy, LLC (PCT)</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100%</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">NeoStem Family Storage, LLC</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100% owned by PCT</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">Athelos Corporation</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">80.1% owned by PCT</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-autospace: none">PCT Allendale, LLC</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">100% owned by PCT</TD>
    <TD NOWRAP STYLE="text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none">United States of America</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the Joint
Venture Agreement that governs the ownership and management of Erye, through 2012: (i) 49% of undistributed profits (after tax)
will be distributed to Suzhou Erye Economy and Trading Co Ltd. (&ldquo;EET&rdquo;), the owner of the remaining 49% interest in
Erye and loaned back to Erye for use in connection with its construction of the new Erye facility (to be repaid gradually after
construction is completed); (ii) 45% of the net profit after tax due to the Company will be provided to Erye as part of the new
facility construction fund, which will be characterized as paid-in capital for our 51% interest in Erye; and (iii) only 6% of
the net profit will be distributed to us directly for our operating expenses. The Company is pursuing the divestiture of Erye.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 2 &ndash; Summary of Significant Accounting Policies</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition to the
policies below, our significant accounting policies are described in Note 2 of the Notes to Consolidated Financial Statements included
in our Annual Report on Form 10-K for the year ended December 31, 2011. There were no changes during the three months ended March
31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Accounts Receivable</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Accounts receivable
are carried at original invoice amount less an estimate made for doubtful accounts. The Company applies judgment in connection
with establishing the allowance for doubtful accounts. Specifically, the Company analyzes the aging of accounts receivable balances,
historical bad debts, customer concentration and credit-worthiness, current economic trends and changes in the Company&rsquo;s
customer payment terms. Significant changes in customer concentrations or payment terms, deterioration of customer credit-worthiness
or weakening economic trends could have a significant impact on the collectability of the receivables and the Company&rsquo;s
operating results. If the financial condition of the Company&rsquo;s customers were to deteriorate, resulting in an impairment
of their ability to make payments, additional allowances may be required. Management regularly reviews the aging of receivables
and changes in payment trends by its customers, and records a reserve when it believes collection of amounts due are at risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Revenue Recognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Prescription drugs
and intermediary pharmaceutical products:</I> The Company recognizes revenue from pharmaceutical and pharmaceutical intermediary
products sales when title has passed, the risks and rewards of ownership have been transferred to the customer, the fee is fixed
and determinable, and the collection of the related receivable is reasonably assured which is generally at the time of delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Stem cell related
service revenues:</I> The Company recognizes revenue for its cell development and manufacturing services based on the terms of
individual contracts. Cell development services generally contain multiple stages, which the Company evaluates for multiple elements.
Each stage does not have stand-alone value and are dependent upon one another; therefore the Company recognizes revenue on a completed
contract basis. Manufacturing services represent separate and distinct arrangements, and the Company is paid for time and materials
or for fixed monthly amounts and revenue is recognized when efforts are expended or contractual terms have been met. The Company
separately charges the customers for reimbursable expenses that are specified in each contract. On a monthly basis, the Company
bills customers for reimbursable expenses and immediately recognizes reimbursement revenue, as the revenue is deemed earned as
reimbursable expenses are incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company recognizes
revenue related to the collection and cryopreservation of cord blood and autologous adult stem cells when the cryopreservation
process is completed which is approximately twenty four hours after cells have been collected. Revenue related to advance payments
of storage fees is recognized ratably over the period covered by the advance payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 3 &ndash; Acquisitions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Amorcyte Acquisition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On October 17, 2011
(the &ldquo;Closing Date&rdquo;), Amo Acquisition Company I, Inc. (&ldquo;Subco&rdquo;), a newly-formed wholly-owned subsidiary
of NeoStem, Inc. (&ldquo;NeoStem&rdquo; or the &ldquo;Company&rdquo;), merged (the &ldquo;Amorcyte Merger&rdquo;) with and into
Amorcyte, Inc., a Delaware corporation (&ldquo;Amorcyte&rdquo;), in accordance with the terms of the Agreement and Plan of Merger,
dated as of July 13, 2011 (the &ldquo;Amorcyte Merger Agreement&rdquo;), among NeoStem, Amorcyte, Subco, and Amo Acquisition Company
II, LLC (&ldquo;Subco II&rdquo;). As a result of the consummation of the Amorcyte Merger, Amorcyte is now a wholly-owned subsidiary
of NeoStem. Amorcyte is a development stage cell therapy company focusing on novel treatments for cardiovascular disease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The preliminary fair
value of assets acquired and liabilities assumed on October 17, 2011 is as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 83%">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">92.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Prepaid Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">178.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">In Process R&amp;D</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,400.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Goodwill</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,104.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accounts Payable &amp; Accrued Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,177.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Deferred Tax Liability</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,774.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Amount Due Related Party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">340.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The total cost of
the acquisition, which is still preliminary, has been allocated to the assets acquired and the liabilities assumed based upon
their estimated fair values at the date of the acquisition. The final allocation is pending the receipt of this valuation work
and the completion of the Company&rsquo;s internal review, which is expected during fiscal 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 4 &ndash; Cash and Cash Equivalents</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">Cash
and cash equivalents include short-term, highly liquid, investments with maturities of ninety days or less when purchased. As
of March 31, 2012, and December 31, 2011, the Company had approximately $764,700 and $791,100, respectively in bank deposits covered
by the Federal Deposit Insurance Corporation. As of March 31, 2012 and December 31, 2011, cash and short-term investments held
by Erye, our 51%-owned foreign subsidiary, that are not available to fund domestic operations unless repatriated were $</FONT>14,766,600
<FONT STYLE="color: black">and $8,707,500, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 5 &ndash; Inventories</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Inventories consisted
of the following (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 60%; text-align: left">Raw materials and supplies</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 16%; text-align: right">6,864.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 16%; text-align: right">2,974.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Work in process</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,037.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,086.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Finished goods</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,079.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,092.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total inventory</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">17,982.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">17,153.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 6 &ndash; Loss Per Share</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Basic loss per share
is based on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net loss attributable
to common shareholders by the weighted average shares outstanding during the period. Diluted loss per share, which is calculated
by dividing net loss attributable to common shareholders by the weighted average number of common shares used in the basic loss
per share calculation plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities
outstanding, is not presented as such potentially dilutive securities are anti-dilutive in all periods presented. For the three
months ended March 31, 2012 and 2011, the Company incurred net losses and therefore no common stock equivalents were utilized
in the calculation of loss per share. At March 31, 2012 and 2011, the Company excluded the following potentially dilutive securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 66%; text-align: left">Stock Options</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">21,402,957</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">15,080,095</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,695,366</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,129,066</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Series E Preferred Stock, Common stock equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,034,536</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,149,889</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Restricted Shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">401,167</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">186,666</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 7 &ndash; Fair Value Measurements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Fair value of financial
assets and liabilities that are being measured and reported are defined as the exchange price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction between market participants in the principal market at the measurement
date (exit price). The Company is required to classify fair value measurements in one of the following categories:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Level 1 inputs which
are defined as quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has
the ability to access at the measurement date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Level 2 inputs which
are defined as inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either
directly or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Level 3 inputs are
defined as unobservable inputs for the assets or liabilities. Financial assets and liabilities are classified based on the lowest
level of input that is significant to the fair value measurement. The Company&rsquo;s assessment of the significance of a particular
input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities
and their placement within the fair value hierarchy levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company determined
the fair value of funds invested in short term investments, which are considered trading securities, to be level 1 inputs measured
by quoted prices of the securities in active markets. The short term investments are included within prepaids and other current
assets on the balance sheet. The Company determined the fair value of funds invested in money market funds to be level 1. The
Company determined the fair value of the embedded derivative liabilities and warrant derivative liabilities to be level 3 inputs.
These inputs require material subjectivity because value is derived through the use of a lattice model that values the derivatives
based on probability weighted discounted cash flows. The following table sets forth by level within the fair value hierarchy the
Company&rsquo;s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2012,
and December 31, 2011 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Fair Value Measurements Using Fair Value
    Hierarchy</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 49%; text-align: left">Money market investments</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">2,497.6</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Short term investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Embedded derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">315.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrant derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,130.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Fair Value Measurements Using Fair Value
    Hierarchy</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 49%; text-align: left">Money market investments</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">2,497.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Short term investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Embedded derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">391.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrant derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Contingent consideration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,130.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The fair value measurement
of the contingent consideration obligations is determined using Level 3 inputs. The fair value of contingent consideration obligations
is based on a discounted cash flow model using a probability-weighted income approach. The measurement is based upon unobservable
inputs supported by little or no market activity based on our own assumptions and experience. The value of our contingent consideration
is valued using a discount rate of 30%. We base the timing to complete the development and approval of this product on the current
development stage of the product and the inherent difficulties and uncertainties in developing a product candidate, such as obtaining
U.S. Food and Drug Administration (FDA) and other regulatory approvals. In determining the probability of regulatory approval
and commercial success, we utilize data regarding similar milestone events from several sources, including industry studies and
our own experience. These fair value measurements represent Level 3 measurements as they are based on significant inputs not observable
in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition
date and for each subsequent period. Accordingly, changes in assumptions could have a material impact on the amount of contingent
consideration expense we record in any given period. Changes in the fair value of the contingent consideration obligations are
recorded in our consolidated statement of operations. Contingent consideration was recognized on October 17, 2011 in connection
with the Amorcyte merger (see Note 3). There were no changes in contingent consideration fair value as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For those financial
instruments with significant Level 3 inputs, the following table summarizes the activity for the three months ended March 31,
2012 by type of instrument (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 82%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">Three Months Ended</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Embedded Derivatives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Warrants</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 66%; text-align: left">Beginning liability balance</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">391.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">82.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Change in fair value recorded in earnings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(76.4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Ending liability balance</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">315.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">71.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Some of the Company&rsquo;s
financial instruments are not measured at fair value on a recurring basis, but are recorded at amounts that approximate fair value
due to their liquid or short-term nature, such as cash and cash equivalents, restricted cash, accounts receivable, accounts payable,
notes payable and bank loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note
8&nbsp;&ndash;&nbsp;Goodwill and Other Intangible Assets</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The changes in the
carrying amount of goodwill, by reportable segment during 2012 were as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Cell Therapy - <BR>United States</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Pharmaceutical <BR>Manufacturing - <BR>China</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 49%">Balance as of December 31, 2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">11,117.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">8,495.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">19,613.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Foreign currency exchange rate changes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">53.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">53.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Balance as of March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">11,117.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,548.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,666.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of March 31, 2012 and December 31,
2011, the Company&rsquo;s intangible assets and related accumulated amortization consisted of the following (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="11" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">March 31, 2012</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">December 31, 2011</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt"></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Useful Life</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Gross</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Accumulated <BR>Amortization</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Net</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Gross</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Accumulated <BR>Amortization</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Net</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 21%; text-align: left"><FONT STYLE="font-size: 8pt">Customer list</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">10 Years</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">19,488.4</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">(4,588.1</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">14,900.3</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">19,373.8</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">(4,076.1</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">15,297.7</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Manufacturing technology</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">10 Years</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8,810.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,595.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,214.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8,779.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,368.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,411.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Tradename</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">10 Years</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,825.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(343.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,481.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,819.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(296.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,522.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">In process R&amp;D</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Indefinite</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,201.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,201.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,190.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,190.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Standard operating procedures</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">10 Years</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,111.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(268.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">843.1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,104.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(239.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">865.5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">VSEL patent rights</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 8pt">19 Years</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">669.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(149.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">519.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">669.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(140.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">528.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Patents</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">8 Years</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">205.5</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(92.5</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">113.0</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">204.3</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(86.8</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">117.5</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Total Intangible Assets</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 0pt"></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">43,312.1</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(7,038.2</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">36,273.9</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">43,141.3</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(6,208.9</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">36,932.4</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total intangible amortization expense
was classified in the operating expense categories for the periods included below as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 66%">Cost of revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">248.1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">341.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Selling, general and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">533.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">521.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">795.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">876.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 9 &ndash; Accrued Liabilities</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Accrued liabilities
are as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 66%; text-align: left">VAT and other taxes</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">1,020.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">705.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Customer security deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">445.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">444.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Salaries, employee benefits and related taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">595.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">365.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,368.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,280.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,430.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,796.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 10 &ndash; Debt</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Bank Loans</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In June 2011, Erye
obtained a bank loan of approximately $1,571,200 from the Agricultural Bank of China according to People&rsquo;s Bank benchmark
interest rates and is due in June 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In October 2011,
Erye obtained a bank loan of approximately $8,641,600 from the CITIC Bank International according to People&rsquo;s Bank benchmark
interest rates with additional rate up to 10% and is due in October 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In October 2011,
Erye obtained a bank loan of approximately $1,571,200 from the China Merchants Bank according to People&rsquo;s Bank benchmark
interest rates with additional rate up to 10% and is due in July 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In November 2011,
Erye obtained a bank loan of approximately $3,928,000 from Commercial Bank of China according to People&rsquo;s Bank benchmark
interest rates and is due in November 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Notes Payable</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">As
of March 31, 2012 and December 31, 2011, the Company had notes payable of approximately $</FONT>305,200<FONT STYLE="color: black">
and $</FONT>148,100<FONT STYLE="color: black">, respectively. The notes relate to certain insurance policies and equipment financings,
require monthly payments, and mature within one to five years. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Mortgages Payable</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">On
October 31, 2007, PCT issued a note to borrow $3,120,000 (the &ldquo;Note&rdquo;) in connection with its $3,818,500 purchase of
condominium units in an existing building in Allendale, New Jersey (the &ldquo;Property&rdquo;) that PCT uses as a laboratory
and stem cell processing facility. The Note is payable in 239 consecutive monthly payments of principal and interest, based on
a 20 year amortization schedule; and one final payment of all outstanding principal plus accrued interest then due. The current
monthly installment is $20,766, which includes interest at an initial rate of 5.00%; the interest rate and monthly installments
payments are subject to adjustment on October 1, 2017. On that date, upon prior written notice, the lender has the option to declare
the entire outstanding principal balance, together with all outstanding interest, due and payable in full. The Note is secured
by substantially all of the assets of PCT, including a first mortgage on the Property and assignment of an amount approximately
equal to eighteen months debt service held in escrow. The Note matures on October 1, 2027 if not called by the lender on October
1, 2017. The note is subject to certain debt service coverage and total debt to tangible net worth financial covenant ratios measured
semi-annually. PCT was not in compliance with such covenants at the measurement date of December 31, 2011, and obtained a covenant
waiver letter from the lender for all periods through December 31, 2011. The outstanding balance was approximately $</FONT>2,680,100
<FONT STYLE="color: black">at March 31, 2012 of which $</FONT>116,000<FONT STYLE="color: black"> is payable within twelve months.
On December 6, 2010 PCT Allendale, a wholly-owned subsidiary of PCT, entered into a note for a second mortgage in the amount of
$1 million on the Allendale Property with TD Bank, N.A. This loan is guaranteed by PCT, DomaniCell (a wholly-owned subsidiary
of PCT, now known as NeoStem Family Storage, LLC), Northern New Jersey Cancer Associates (&ldquo;NNJCA&rdquo;) and certain partners
of NNJCA and is subject to a financial covenant starting December 31, 2011. PCT was not in compliance with such covenants at the
measurement date of December 31, 2011, and obtained a covenant waiver letter from the lender for all periods through December
31, 2011. The loan is for 124 months at a fixed rate of 6% for the first 64 months. The loan is callable for a certain period
prior to the interest reset date. The initial four months was interest only. The outstanding balance as of March 31, 2012 is $</FONT>901,900
<FONT STYLE="color: black">of which $</FONT>77,700<FONT STYLE="color: black"> is payable within twelve months. Both mortgages
are classified as current liabilities as of March 31, 2012.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 11 &ndash; Preferred Stock</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Convertible Redeemable Series E
7% Preferred Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On November 19, 2010,
the Company sold 10,582,011 Preferred Offering Units consisting of (i) one share (&ldquo;Preferred Share&rdquo;) of Series E 7%
Senior Convertible Preferred Stock, par value $0.01 per share, of the Company, (ii) a warrant to purchase 0.25 of a share of Common
Stock (consisting of at issuance an aggregate of 1,322,486 warrants, adjusted to an aggregate of 1,633,466 as of March 31, 2012);
and (iii) 0.0155 of a share of Common Stock (an aggregate of 164,418 shares). Each Preferred Offering Unit was priced at $0.945
and total gross and net proceeds received by the Company were $10,000,000 and $8,876,700, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Dividends on the
Preferred Shares accrue at a rate of 7% per annum and are payable monthly in arrears. The Company is required to redeem 1/27 of
the Preferred Shares monthly. Monthly dividend and principal payments began on March 21, 2011 and continue on the 19th of each
month thereafter with the final payment due on May 20, 2013. Payments can be made in cash or, upon notification to the holders,
in shares of Company common stock, provided certain conditions are satisfied or holders of Preferred Shares agree to waive the
conditions for that payment period. As of March 31, 2012, the Company had issued 6,388,885 shares of Company common stock in payment
of monthly dividends and principal, including required advanced payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company may pre-pay
the outstanding balance of the Preferred Shares in full or in part (in increments of no less than $1,000,000) at 110% of the then
outstanding balance with notice of not less than thirty days and adequate opportunity to convert. If the Company chooses to pre-pay,
the outstanding balance must be paid in cash and the premium may be paid in cash or shares of Company common stock. An aggregate
of $2,500,000 of the proceeds from the Preferred Offering was placed in escrow for a maximum of 2.5 years as security for the
Company&rsquo;s obligations relative to the Preferred Shares, and is included in other assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Upon issuance, the
Preferred Shares were convertible at an initial conversion price of $2.0004. The conversion price is subject to certain weighted
average adjustments upon the occurrence of specific events, including stock dividends, stock splits, combinations and reclassifications
of the Company&rsquo;s common stock and if (with certain exceptions) the Company issues or sells any additional shares of common
stock or common stock equivalents at a price per share less than the conversion price then in effect, or without consideration.
As of March 31, 2012, the conversion price had been adjusted to $1.36.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The characteristics
of the Series E Preferred Stock require that this instrument be treated as mezzanine equity. The Company bifurcated the fair value
of the embedded conversion options and redemption options from the preferred stock since the conversion options and certain redemption
options were determined to not be clearly and closely related to the Series E Preferred Stock and recorded the fair value of the
embedded conversion and redemption options as long-term derivative liabilities. The Company also recorded the fair value of the
warrants as a long-term derivative liability. The fair value of the preferred stock (net of issuance costs and discounts), the
embedded derivatives, and warrant derivative were approximately $4,182,500, $315,300 and $71,900, respectively, as of March 31,
2012. The Company will report changes in the fair value of the embedded derivatives and warrant derivative in earnings within
other income (expense), net. For the three months ended March 31, 2012, the Company recorded a decrease in the fair value of the
embedded derivatives of approximately $76,500 and a decrease in the warrant derivative of approximately $10,800.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 12 &ndash; Shareholders&rsquo;
Equity</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Common Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company raised
an aggregate of approximately $2.25 million in a private placement consummated in February 2012 pursuant to which three entities
acquired an aggregate of 3,465,404 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In March 2012, the
Company completed an underwritten offering of 15,000,000 units at a purchase price of $0.40 per unit, with each unit consisting
of one share of Common Stock and a five year warrant to purchase one share of Common Stock at an exercise price of $0.51 per share
(the &ldquo;Offering&rdquo;). The Company sold securities in the Offering under the Company&rsquo;s previously filed shelf registration
statement on Form S-3 (333-173855), which was declared effective by the Securities and Exchange Commission on June 13, 2011. The
Company received gross proceeds of $6,000,000, prior to deducting underwriting discounts and offering expenses payable by the
Company, for net proceeds of approximately $5,297,000. In April 2012, the underwriters in the Offering exercised their over-allotment
option for an additional 2,000,000 units. The Company received additional gross proceeds of $800,000, prior to deducting underwriting
discounts, for net proceeds of approximately $744,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company has issued
common stock purchase warrants from time to time to investors in private placements and public offerings, and to certain vendors,
underwriters, placement agents and consultants of the Company. A total of 52,695,366 shares of common stock are reserved for issuance
upon exercise of outstanding warrants as of March 31, 2012 at prices ranging from $0.51 to $7.00 and expiring through October
2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">During the three
months ended March 31, 2012 and 2011, the Company issued warrants for services as follows ($ in thousands, except share data):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="width: 56%; text-align: left; padding-bottom: 2.5pt">Number of Common Stock Purchase Warrants Issued</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; border-bottom: Black 2.5pt double; text-align: right">125,000</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; border-bottom: Black 2.5pt double; text-align: right">270,000</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Value of Common Stock Purchase Warrants Issued</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">50.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">280.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The weighted average estimated fair value
of warrants issued for services in the three months ended March 31, 2012 was $0.41. The fair value of warrants at the date of
grant was estimated using the Black-Scholes option pricing model. The expected volatility is based upon historical volatility
of the Company&rsquo;s stock. The expected term is based upon the contractual term of the warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The range of assumptions used in calculating
the fair values of warrants issued for services during the three months ended March 31, 2012 and 2011 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center">Three
    Months Ended March 31,</TD></TR>
<TR>
    <TD NOWRAP STYLE="width: 60%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">2012</TD>
    <TD NOWRAP STYLE="width: 2%; vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">2011</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP COLSPAN="2" STYLE="text-autospace: none">Expected term (in years)</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">5</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">3 to 5</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">Expected volatility</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">82%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">82% - 86%</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; text-autospace: none">Expected dividend yield</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0%</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">Risk-free interest rate</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0.88%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">1.29% - 2.24%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Activity related to warrants outstanding was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Number&nbsp;of&nbsp;Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average<BR> Exercise&nbsp;Price</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average<BR> Remaining&nbsp;Contractual<BR>
    Term&nbsp;(years)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Aggregate&nbsp;Intrinsic<BR> Value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="width: 24%">Balance at December 31, 2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">37,389,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">2.35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,305,541</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.52</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Expired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Cancelled</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Balance at March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">52,695,366</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.82</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4.01</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">At March 31, 2012, the outstanding warrants by range of exercise
prices were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Warrants Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Warrants Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Range of</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Prices</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 0.51 - $&nbsp; 1.45</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,388,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.90</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,855,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.44</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 1.46 - $&nbsp; 2.10</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8,114,176</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.72</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8,114,176</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.72</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 2.11 - $&nbsp; 2.53</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">13,032,512</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">13,032,512</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 2.54 - $&nbsp; 5.99</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,929,928</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,929,928</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 6.00 - $&nbsp; 7.00</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2,230,250</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">3.1</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6.51</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,230,250</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">0.9</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6.11</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">52,695,366</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">4.0</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1.82</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">36,162,366</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">3.6</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">2.23</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company&rsquo;s
results include share-based compensation expense of approximately $12,500 and $172,800 for the three months ended March 31, 2012
and 2011, respectively. The total fair value of shares vested for warrants issued for services during the three months ended March
31, 2012 was approximately $17,800. As of March 31, 2012, there was approximately $56,700 of total unrecognized service cost related
to unvested warrants of which approximately $56,700 is related to warrants that vest over a weighted average life of 1.0 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Options</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company&rsquo;s
results include share-based compensation expense of approximately $1,751,200 and $1,130,300 for the three months ended March 31,
2012 and 2011, respectively. Options vesting on the accomplishment of business milestones will not be recognized for compensation
purposes until such milestones are deemed probable of accomplishment. At March 31, 2012 there were options to purchase 404,928
shares outstanding that will vest upon the accomplishment of business milestones and will be accounted for as an operating expense
when such business milestones are deemed probable of accomplishment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The weighted average
estimated fair value of stock options granted in the three months ended March 31, 2012 was $0.36. The fair value of options at
the date of grant was estimated using the Black-Scholes option pricing model. The expected volatility is based upon historical
volatility of the Company&rsquo;s stock. The expected term is based upon observation of actual time elapsed between date of grant
and exercise of options for all employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The range of assumptions
used in calculating the fair values of options granted during the three months ended March 31, 2012 and 2011 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center">Three
    Months Ended March 31,</TD></TR>
<TR>
    <TD NOWRAP STYLE="width: 60%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">2012</TD>
    <TD NOWRAP STYLE="width: 2%; vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">2011</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP COLSPAN="2" STYLE="text-autospace: none">Expected term (in years)</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">3 to 10</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-autospace: none; text-align: center">2 to 6</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">Expected volatility</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">82% - 83%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">82% - 85%</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; text-autospace: none">Expected dividend yield</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0%</TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">Risk-free interest rate</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0.02% - 2.00%</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: none; text-align: center">0.80% - 2.53%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Activity related to stock options outstanding
under the U.S. Equity Plan was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Number&nbsp;of&nbsp;Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average <BR>Exercise&nbsp;Price</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average <BR>Remaining&nbsp;Contractual
    <BR>Term&nbsp;(years)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Aggregate&nbsp;Intrinsic&nbsp;Value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="width: 24%">Balance at December 31, 2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">15,043,505</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">1.68</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,075,452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.53</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Expired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Cancelled</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.57</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Balance at March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,107,957</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.44</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">At March 31, 2012, the outstanding options
under the U.S. Equity Plan by range of exercise prices were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Options Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Options Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Range of</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Prices</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 0.52 - $&nbsp;&nbsp;&nbsp; 0.71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,188,052</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.56</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,630,990</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.54</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 0.72 - $&nbsp;&nbsp;&nbsp; 1.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,879,100</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.46</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,126,232</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.44</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 1.51 - $&nbsp;&nbsp;&nbsp; 1.80</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,629,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,877,252</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.6</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 1.81 - $&nbsp;&nbsp;&nbsp; 2.00</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,874,255</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.91</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,705,994</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.91</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 2.01 - $&nbsp; 15.00</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,537,550</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6.8</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2.29</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,430,883</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6.7</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2.30</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">19,107,957</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">7.5</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1.44</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">11,771,351</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">6.9</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1.64</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Activity related
to stock options outstanding under the Non U.S. Plan was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Number&nbsp;of&nbsp;Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average <BR>Exercise&nbsp;Price</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average <BR>Remaining&nbsp;Contractual
    <BR>Term</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Aggregate&nbsp;Intrinsic&nbsp;Value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="width: 24%">Balance at December 31, 2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">2,100,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">1.95</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.52</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Expired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Cancelled</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Balance at March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,295,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.83</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.12</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">At March 31, 2012, the outstanding options
under the Non U.S. Plan by range of exercise prices were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Options Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Options Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Range of</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Remaining</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Weighted Average</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Prices</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Outstanding</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares Exercisable</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contractual
    Life (years)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise Price</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 0.52 - $&nbsp; 1.42</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">295,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.83</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">145,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.52</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 1.43 - $&nbsp; 1.71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">600,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.65</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">200,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8.4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.65</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 1.72 - $&nbsp; 2.08</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">350,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.74</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">175,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.0</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1.74</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 2.09&nbsp;&nbsp; $&nbsp; 2.22</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">650,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2.16</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">300,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7.9</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2.16</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt">$&nbsp; 2.23 - $&nbsp; 2.36</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">400,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">8.2</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2.36</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">400,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">8.2</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2.36</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">2,295,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">8.1</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1.83</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1,220,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">8.2</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 18%"><FONT STYLE="font-size: 8pt">1.89</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The total fair value
of shares vested during the three months ended March 31, 2012 and 2011 was approximately $1,650,300 and $378,800, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of March 31, 2012,
there was approximately $3,837,800 of total unrecognized compensation costs related to unvested stock option awards of which approximately
$3,829,400 is related to stock options that vest over a weighted average life of 1.83 years. The remaining balance of unrecognized
compensation costs of $8,400 is related to stock options that vest based on the accomplishment of business milestones which expense
begins to be recognized when such milestones become probable of being achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Restricted Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">During the three
months ended March 31, 2012 and 2011, the Company issued restricted stock for services as follows ($ in thousands, except share
data):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left; padding-bottom: 2.5pt">Number of Restricted Stock Issued</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; border-bottom: Black 2.5pt double; text-align: right">189,814</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; border-bottom: Black 2.5pt double; text-align: right">550,320</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Value of Restricted Stock Issued</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">91.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">819.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The weighted average
estimated fair value of restricted stock issued for services in the three months ended March 31, 2011 was $0.48. The fair value
of the restricted stock was determined using the Company&rsquo;s closing stock price on the date of issuance. The vesting terms
of restricted stock issuances are generally within one year. The Company&rsquo;s results include share-based compensation expense
of approximately $663,900 and $691,600 for the three months ended March 31, 2012 and 2011, respectively. As of March 31, 2012,
there was approximately $88,500 of unrecognized service cost related to unvested restricted stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Shares Remaining Under Equity Plans</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The number of remaining shares authorized
to be issued under the various equity plans at March 31, 2012 are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">U.S. Equity Plan</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-U.S. Plan</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left">Shares Authorized for Issuance under 2003 Equity Plan</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">2,500,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shares Authorized for Issuance under 2009 Equity Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Shares Authorized for Issuance under Non-U.S. Plan</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,700,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,700,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Outstanding Options - U.S. Equity Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,107,957</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Exercised Options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(97,500</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Outstanding Options - Non-U.S. Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,295,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Restricted stock or equity grants issued under Equity Plans</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,092,577</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(885,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total common shares remaining to be issued under the Equity Plans</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,951,966</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,520,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Share-Based Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following table summarizes the components
of share-based compensation expense in the Consolidated Statements of Income for the three months ended March 31, 2012 and 2011
(in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%">Cost of revenues</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">83.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">12.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">161.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Selling, general, and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,223.4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,638.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,468.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,911.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 13 &ndash; Income Taxes</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Tax Reform Act
of 1986 enacted a complex set of rules limiting the utilization of net operating loss carryforwards (&ldquo;NOL&rdquo;) to offset
future taxable income following a corporate ownership change. The Company&rsquo;s ability to utilize its NOL carryforwards is
limited following a change in ownership in excess of fifty percentage points during any three-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Since the year 2000,
the Company has had several changes in ownership which has resulted in a limitation on the Company&rsquo;s ability to apply net
operating losses to future taxable income. As of December 31, 2011 the Company has lost $25,994,800 or $8,838,200 in tax benefits,
of net operating losses applicable to Federal income taxes which expired due to these limitations and expiration of net operating
loss carryforwards. At December 31, 2011, the Company had net operating loss carryforwards of approximately $47,427,300 applicable
to future Federal income taxes. The tax loss carryforwards are subject to annual limitations and expire at various dates through
2030. The Company has recorded a full valuation allowance against its net deferred tax asset because it is more likely than not
that such deferred tax assets will be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company has provided
deferred income taxes for the estimated U.S. federal and foreign income tax effects of earnings of subsidiaries expected to be
distributed to the Company. Deferred income taxes have been provided on approximately $5,324,300 of undistributed earnings of
certain foreign subsidiaries as of December 31, 2011 as such amounts are not considered to be permanently reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 14 &ndash; Segment Information</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company operates
in two reportable segments: (i) Cell Therapy&nbsp;&mdash;&nbsp;United States; and (ii) Pharmaceutical Manufacturing&nbsp;&mdash;China.
Effective March 31, 2012, the Company no longer operated in the Regenerative Medicine &ndash; China reportable segment, which
is now reported in discontinued operations (see Note 15). The Company&rsquo;s operating businesses are organized based on the
nature of markets and customers. The Company&rsquo;s CEO, as chief operating decision maker, evaluates the results of operations
along these reporting segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company&rsquo;s financial information
broken down by reportable segment was as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%; text-align: left; padding-left: 9.35pt">Pharmaceutical Manufacturing - China (products)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">18,284.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">18,141.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Cell Therapy - United States (services)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,772.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,449.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">22,056.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,591.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Income (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Pharmaceutical Manufacturing - China</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,110.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,119.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Cell Therapy - United States</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,065.6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,776.0</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Corporate office</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,476.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,419.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(6,431.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(7,075.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Total assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 58%; text-align: left; padding-left: 9.35pt">Pharmaceutical Manufacturing - China</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">116,405.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">106,284.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Cell Therapy - United States</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,347.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,653.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Corporate office</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,531.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,596.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Assets related to discontinued operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,793.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">167,284.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">155,327.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">The
Cell Therapy &ndash; United States revenues include approximately $</FONT>1,106,900 <FONT STYLE="color: black">and $</FONT>489,300
<FONT STYLE="color: black">for stem cell related services reimbursed expenses for the three months ended March 31, 2012 and 2011,
respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Concentration of Risks</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For the three months
ended March 31, 2012, three major suppliers provided approximately 38.6% of Erye&rsquo;s purchases of raw materials with each
supplier individually accounting for approximately 14.3%, 12.6% and 11.7%, respectively. As of March 31, 2012, the total accounts
payable to the three major suppliers represented 37.7% of the total accounts payable balance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Approximately 85%
of Erye&rsquo;s revenues are derived from products that use penicillin or cephalosporin as the key active ingredient. These products
are manufactured on two of the eight production lines in Erye&rsquo;s manufacturing facility. Any issues or incidents that might
disrupt the manufacturing of products requiring penicillin or cephalosporin could have a material impact on the operating results
of Erye. Any interruption or cessation in production could impact market sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In March 2011, the
National Development and Reform Commission in China issued insurance reimbursement price cuts which impacted two of Erye products.
The Company recognizes that there will be continuous pressure on Erye product pricing as a result of such actions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Statutory Reserves</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to laws
applicable to entities incorporated in the PRC, the PRC subsidiaries are prohibited from distributing their statutory capital
and are required to appropriate from PRC GAAP profit after tax to other non-distributable reserve funds. These reserve funds include
one or more of the following: (i) a general reserve, (ii) an enterprise expansion fund and (iii) a staff bonus and welfare fund.
Subject to certain cumulative limits (i.e., 50% of the registered capital of the relevant company), the general reserve fund requires
annual appropriation at 10% of after tax profit (as determined under accounting principles generally accepted in the PRC at each
year-end); the appropriation to the other funds are at the discretion of the subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The general reserve
is used to offset extraordinary losses. Subject to approval by the relevant authorities, a subsidiary may, upon a resolution passed
by the shareholders, convert the general reserve into registered capital provided that the remaining general reserve after the
conversion shall be at least 25% of the registered capital of the subsidiary before the capital increase as a result of the conversion.
The staff welfare and bonus reserve is used for the collective welfare of the employees of the subsidiary. The enterprise expansion
reserve is for the expansion of the subsidiary&rsquo;s operations and can also be converted to registered capital upon a resolution
passed by the shareholders subject to approval by the relevant authorities. These reserves represent appropriations of the retained
earnings determined in accordance with Chinese law, and are not distributable as cash dividends to the parent company, NeoStem.
Statutory reserves are $2,478,000 and $2,488,000 as of March 31, 2012 and December 31, 2011, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Relevant PRC statutory
laws and regulations permit payment of dividends by the Company&rsquo;s PRC subsidiaries only out of their accumulated earnings,
if any, as determined in accordance with PRC accounting standards and regulations. As a result of these PRC laws and regulations,
the Company&rsquo;s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets either in the form
of dividends, loans or advances. The restricted amount was $186,000 at March 31, 2012 and $185,000 at December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 15 &ndash; Discontinued Operations</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In 2009, the Company
began its Regenerative Medicine-China business in the People&rsquo;s Republic of China (&ldquo;China&rdquo; or &ldquo;PRC&rdquo;)
through its subsidiary, a wholly foreign owned entity (&ldquo;WFOE&rdquo;) and entered into contractual arrangements with certain
variable interest entities (&ldquo;VIEs&rdquo;). Foreign companies have commonly used VIE structures to operate in the PRC, and
while such structures are not uncommon, recently they have drawn greater scrutiny from the local Chinese business community in
the PRC who have urged the PRC State Council to clamp down on these structures. In addition, in December 2011, China&rsquo;s Ministry
of Health announced its intention to more tightly regulate stem cell clinical trials and stem cell therapeutic treatments in the
PRC, which has created uncertainty regarding the ultimate regulatory environment in the PRC. Accordingly, the Company has been
taking steps to restrict, with the expectation of ultimately eliminating, its regenerative medicine business in the PRC. The Company
has concluded that as a result of these steps, to discontinue operations in its Regenerative Medicine-China business. The Company
has determined that any liability arising from the activities of the WFOE and the VIEs will likely be limited to the net assets
currently held by each entity. As of March 31, 2012, the Company recognized the following loss on exit of the Regenerative Medicine-China
business (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 76%">Cash</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 20%; text-align: right">195.1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,023.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">330.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(177.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(79.2</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(169.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Loss on exit of segment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,138.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The operations and
cash flows of the Regenerative Medicine - China business will be eliminated from ongoing operations as a result of our exit decision.
The Company expects to have no continuing involvement in this business going forward. <FONT STYLE="color: black">The operating
results of the Regenerative Medicine &ndash; China business for the three months ended March 31, 2012 and 2011, which are included
in discontinued operations, were as follows (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%">Revenue</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">52.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">50.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Cost of revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30.6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(18.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(103.3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(158.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Selling, general, and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(497.3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(790.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other income (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6.8</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12.7</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss on exit of segment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,138.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Loss from discontinued operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1,723.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(928.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The summary of the
assets and liabilities related to discontinued operations as of December 31, 2011 was as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 78%; text-align: left; padding-left: 9.35pt">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">103.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">284.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,256.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Other Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">149.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,793.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9.35pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">177.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Accrued liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">208.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 16 &ndash; Related Party Transactions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">At March 31, 2012
and December 31, 2011, Erye owed EET, the 49% shareholder of Erye, approximately $21,293,100 and $20,862,700, respectively, which
represents dividends paid and loaned back to Erye. At March 31, 2012 and December 31, 2011 the interest rate on this loan was
6.831% and 6.56% , respectively. In June 2011 Erye paid EET approximately $875,100 consisting of the net of the following: $1,115,000
of unpaid accrued interest at June 30, 2011, approximately $408,700 repayment of a non interest bearing loan due in 2011 and recovery
of cash advances to EET of approximately $648,600. In December 2011 Erye paid EET approximately $125,100 of unpaid accrued interest
with bank draft due in June 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the terms
and conditions of the October 2009 Erye Joint Venture Agreement, dividend distributions to EET and the Company&rsquo;s subsidiary
will be made in proportion to their respective ownership interests in Erye; provided, however, that for the three-year period
commencing on the first day of the first fiscal quarter after the Joint Venture Agreement became effective distributions are made
as follows: for undistributed profits generated subsequent to the acquisition date: (i) the 49% of undistributed profits (after
tax) of the joint venture due EET will be distributed to EET and lent back to Erye to help finance costs in connection with its
construction of and relocation to a new facility (to be repaid gradually after construction is completed); and (ii) of the net
profit (after tax) of the joint venture due the Company, 45% will be provided to Erye as part of the new facility construction
fund and will be characterized as additional paid-in capital for the Company&rsquo;s 51% interest in Erye, and 6% will be distributed
to the Company. For undistributed profits generated prior to the acquisition date: (i) the 49% of undistributed profits (after
tax) of the joint venture due EET will be distributed to EET and lent back to Erye to help finance costs in connection with its
construction of and relocation to a new facility (to be repaid gradually after construction is completed); and (ii) of the net
profit (after tax) of the joint venture due the Company, 51% will be provided to Erye as part of the new facility construction
fund and will be characterized as additional paid-in capital for the Company&rsquo;s 51% interest in Erye. It was contemplated
by the Joint Venture Agreement that the construction would continue for three years. As such, 45% of the dividend we would be
entitled to by reason of our 51% ownership would remain in Erye through 2012 to complete the construction while EET would loan
back their dividend during the same period at a prevailing bank interest rate. Upon a liquidity event of Erye, as contemplated
in the joint venture agreement, the Company will be entitled to the return of its dividend reinvestments to the extent of the
proceeds generated by the liquidity event. Repayment of such loans from EET would occur gradually after the construction is completed.
In January 2011, a dividend totaling approximately $13,671,100 based on earnings for Fiscal Year 2009 was declared and approximately
$6,698,800 was distributed to EET and lent back to Erye and approximately $6,972,300 due the Company was reinvested and re-characterized
as additional paid-in capital in the business. In April 2011, a dividend totaling $10,259,700 based on earnings for Fiscal Year
2010 was declared and approximately $5,027,300 was distributed to EET and lent back to Erye, and approximately $5,232,400 due
the Company was reinvested and re-characterized as additional paid-in capital in the business. A 10% withholding tax was required
on dividends payable to the Company. As a result, Erye withheld approximately $1,220,500 in taxes related to the Company&rsquo;s
Fiscal Year 2009 and 2010 dividend amounts, and such amount has been paid to the local Chinese tax authorities as of December
31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Effective March 10,
2011, Matthew Henninger entered into a consulting agreement with PCT, pursuant to which Mr. Henninger was engaged for a three
month term to serve as an advisor to PCT with regard to the development of the &ldquo;Family Plan,&rdquo; a multi-generational
stem cell collection and storage service. The agreement was subsequently amended and extended with the approval of the Audit Committee
through December 31, 2011. The term was further extended to March 31, 2012 with the approval of the Audit Committee, in connection
with which Mr. Henninger was granted an option to purchase 75,000 shares of NeoStem Common Stock under the 2009 Plan at $0.52
per share (Black Scholes value $20,696) vesting over the term of the extension, $10,000 per month for a three month period and
continued insurance reimbursement. Mr. Henninger is in an exclusive relationship with the CEO of NeoStem.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 17 &ndash; Commitments and Contingencies</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Lease Commitments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company leases
office and laboratory facilities and certain equipment under certain noncancelable operating leases that expire from time to time
through 2017. A summary of future minimum rental payments required under operating leases that have initial or remaining terms
in excess of one year as of March 31, 2012 are as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Years ended</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Operating Leases</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 78%; text-align: left; padding-left: 9pt">2012</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">1,056.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">974.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">606.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">560.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">563.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Thereafter</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">293.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total minimum lease payments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,053.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Expense incurred
under operating leases was approximately $464,000 and $412,600 for the three months ended March 31, 2012 and March 31, 2011, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Contingencies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Under license agreements
with third parties the Company is typically required to pay maintenance fees, make milestone payments and/or pay other fees and
expenses and pay royalties upon commercialization of products. The Company also sponsors research at various academic institutions,
which research agreements generally provide us with an option to license new technology discovered during the course of the sponsored
research.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with
the issuance to investors and service providers of many of the shares of the Company&rsquo;s common stock and warrants to purchase
common stock previously disclosed and described herein, the Company granted the holders registration rights providing for the
registration of such shares of common stock and shares of common stock underlying warrants on a registration statement to be filed
with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) so as to permit the resale of those shares. Certain of the registration
rights agreements provided for penalties for failure to file or failure to obtain an effective registration statement. With respect
to satisfying its obligations to the holders of these registration rights, the Company has been in various situations. The Company
had previously filed a registration statement as required for some of the holders, and in May 2011 filed a registration statement
for all of the holders (except for holders whose shares of Common Stock were currently salable under Rule 144 of the Securities
Act or who waived certain rights); such registration statement was declared effective by the SEC on September 30, 2011. The Company
has certain obligations to maintain the effectiveness of this registration statement. Certain holders who had outstanding registration
rights had previously waived their registration rights or were subject to lock-up agreements. No holder has yet asserted any claim
against the Company with respect to a failure to satisfy any registration obligations. Were someone to assert a claim against
the Company for breach of registration obligations, the Company believes it has several defenses that would result in relieving
it from some or any liability, although no assurances can be given. The Company also notes that damage claims may be limited,
as (i) most shares of Common Stock as to which registration rights attached are either now registered or currently salable under
Rule 144 of the Securities Act or are otherwise currently subject to other restrictions on sale and (ii) the shares of Common
Stock underlying warrants with registration rights are now registered, and during much of the relevant periods the warrants with
registration rights generally have been out of the money, were subject to lock-up agreements and/or the underlying shares of Common
Stock were otherwise subject to restrictions on resale. Accordingly, were holders to assert claims against the Company based on
breach of the Company&rsquo;s obligation to register, the Company believes that the Company&rsquo;s maximum exposure would not
be material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Chinese regulatory
approvals</I>&nbsp;&mdash;&nbsp;The Company has determined that it did not obtain all Chinese regulatory approvals (and associated
registrations) required to reflect the legal title of its interest in Erye as being held by the proper entity within our group
which is its current beneficial owner as that term is used under U.S. law. The Company believes it has now determined what governmental
approvals (and associated registrations) will need to be issued by the Suzhou Municipal Bureau of Foreign Investment and Commerce
and the Suzhou Administration for Industry and Commerce to remediate these deficiencies and the Company has had counsel in China
prepare these filings. The Company&rsquo;s management believes these regulatory deficiencies can be remediated and should not
delay a possible divestiture of the Company&rsquo;s interests in Erye that is currently under evaluation. However, the Company
requires the cooperation of the officers of Erye, as to which no assurance can be given, and we could be compelled to seek to
replace those officers or to commence legal action to obtain the required consents or otherwise move forward with requisite filings.
In addition, even if the filings are made, no assurance can be given that any unremediated regulatory deficiencies would not have
an adverse effect on the operating results and liquidity of Erye and the Company and will not impede or delay efforts to divest
the Company&rsquo;s interest in Erye. In addition, the remediation process is expected to trigger certain tax liabilities and
penalties, however the ultimate liability will be based on future discussions with the relevant Chinese authorities. The Company
cannot reasonably assess the exposure as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Xiangbei Welman
Pharmaceutical Co., Ltd. v Suzhou Erye Pharmaceutical Co., Ltd. and Hunan Weichu Pharmacy Co., Ltd. </I>involves a patent infringement
dispute with respect to a particular antibiotics complex manufactured by Erye (the &quot;Product&quot;). The Changsha Intermediate
Court ruled initially in Welman's favor and Erye appealed that judgment to the Hunan High Court. The Supreme Court of PRC recently
rendered a final ruling that Welman is not entitled to the disputed patent right, and on January 16, 2012 the Hunan High Court
rejected Welman's suit against Erye on that claimed patent infringement. The initial judgment was rendered on May 13, 2010 in
the amount of approximately 5 million RMB (approximately $778,500), which was fully accrued for previously in 2011 and reversed
in the fourth quarter of 2011 based on these subsequent rulings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In 2009, Welman brought
a copyright infringement lawsuit against Erye claiming the package inserts with respect to the Product infringed their copyright.
Erye was enjoined from copying and using the package inserts on the Product and from selling the Product with the package inserts
and Welman was awarded RMB 50,000. Erye has filed application for a retrial of the previous lawsuit brought by Welman to the Hunan
High Court, which application filing was accepted by the court, with the court opening date for retrial not determined yet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In July 2011, a new
copyright infringement lawsuit was brought by Welman against Erye claiming that Erye was not complying with the earlier judgment
enjoining them from copying and using the package inserts for the Product. The Changsha Intermediate Court was applied to for
property preservation and issued a civil decision freezing Erye's bank deposit of up to RMB 50 million (approximately US $7.9
million), or to seal up or detain Erye's other properties of equal value. As of March 31, 2012, approximately 16,808,000RMB (approximately
$2,657,400) of cash had been frozen in six Erye bank accounts. Erye has contended that jurisdiction is not proper, and the case
is now in review of the Hunan High Court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A similar copyright
infringement lawsuit was recently instituted by Welman against Erye in the Guangzhou Intermediate Court to (i) enjoin Erye from
copying and using the package inserts from the Product and selling the drugs with the aforesaid package inserts; and (ii) award
Welman economic losses of approximately RMB 2,000,000 (approximately $320,000) against Erye. Now the case was withdrawn by Welman.
Welman made an application for preliminary injunction to prohibit Erye from copying and using the package inserts from the Product
and selling the drugs with the aforesaid package inserts and Welman's application was denied by the Court on September 6, 2011.
Welman subsequently obtained a preliminary injunction from a lower court Guangzhou Haizhu District Court on September 14, 2011.
But on October 28, 2011, upon the appeal by Erye, the Haizhu District Court issued a decision withdrawing the preliminary injunction.
Welman again applied for on April 13, 2012 and obtained on April 17, 2012 a preliminary injunction from another lower court Guangzhou
Baiyun District Court. Erye has applied for court reconsideration on that granted preliminary injunction, during which period
the said preliminary injunction is still in enforcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 18 &ndash; Subsequent Events</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 13.5pt">On April
4, 2012, the underwriter from the March 29, 2012 public offering (previously disclosed in our Form 8-K filed on March 29, 2012)
of 15,000,000 units exercised its over-allotment option for an additional 2,000,000 units (previously disclosed in our Form 8-K
filed on April 5, 2012). Each unit consists of one share of common stock and a warrant to purchase one share of common stock with
a per share exercise price of $0.51. Additionally in April 2012, the warrants issued in connection with the offering initially
exercisable beginning on September 30, 2012, were accelerated and are now exercisable immediately. The Company received additional
gross proceeds of $800,000, prior to deducting underwriting discounts, for net proceeds of approximately $744,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 13.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 13.5pt">On April
26, 2012 (the &ldquo;Effective Date&rdquo;), the Compensation Committee of the Board of Directors adopted a program (the &ldquo;2012
Option Program&rdquo;) whereby each participating officer was issued on April 26, 2012 an option (the &ldquo;Option&rdquo;) to
purchase that number of shares of Common Stock equal to that portion of the participating officer&rsquo;s gross salary (the &ldquo;Participating
Salary&rdquo;) for the period May 1, 2012 &ndash; July 31, 2012 (the &ldquo;Election Period&rdquo;) elected by the participating
officer divided by $0.25, the Black-Scholes value of an Option issued under the 2012 Option Program. The Option, the issuance
of which is in lieu of payment of the Participating Salary, vests at the end of the month in which the Participating Salary to
which it relates would have been paid and has a term of ten years despite any termination of employment of the participating officer.
The per share exercise price is $0.36, the closing price of the Common Stock on the date of issuance of the Options. The gross
Participating Salary for all participating officers is $181,309 and the total number of Options granted under the 2012 Option
Program was 725,235.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 2.&nbsp;MANAGEMENT'S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks
and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a
result of various factors, including those set forth under &ldquo;Cautionary Note Regarding Forward-Looking Statements&rdquo;
herein and under &ldquo;Risk Factors&rdquo; in our annual report on Form 10-K for the year ended December 31, 2011. The following
discussion should be read in conjunction with our consolidated financial statements and related notes thereto included elsewhere
in this quarterly report and in our annual report on Form 10-K for the year ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NeoStem, Inc. is
an international biopharmaceutical company. In 2011, we operated our business in three reportable segments: (i) Cell Therapy&nbsp;&mdash;&nbsp;United
States; (ii) Regenerative Medicine&nbsp;&mdash;&nbsp;China; and (iii) Pharmaceutical Manufacturing&nbsp;&mdash;&nbsp;China. Effective
March 31, 2012, we no longer operated in the Regenerative Medicine &ndash; China reportable segment, which is now reported in
discontinued operations. We also continue to pursue the divestiture of the Pharmaceutical Manufacturing - China segment and anticipate
it will have been exited by the close of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Through the Cell
Therapy&nbsp;&mdash;&nbsp;United States segment, we are focused on the development of proprietary cellular therapies in cardiovascular
disease, immunology and regenerative medicine and becoming a single source for collection, storage, manufacturing, therapeutic
development and transportation of cells for cell based medicine and regenerative science<I> .</I> Within this segment, we also
are a provider of adult stem cell collection, processing and storage services in the U.S., enabling healthy individuals to donate
and store their stem cells for personal therapeutic use. In addition, the Company collects and stores cord blood cells of newborns
which help to ensure a supply of autologous stem cells for the child should they be needed for future medical treatment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company strengthened
its expertise in cellular therapies, for its Cell Therapy&nbsp;&mdash;&nbsp;United States segment, with its January 19, 2011 acquisition
of Progenitor Cell Therapy, LLC, a Delaware limited liability company (&ldquo;PCT&rdquo;). PCT is engaged in a wide range of services
in the cell therapy market for the treatment of human disease, including, but not limited to contract manufacturing, product and
process development, regulatory consulting, product characterization and comparability, and storage, distribution, manufacturing
and transportation of cell therapy products. PCT&rsquo;s legacy business relationships also afford NeoStem introductions to innovative
therapeutic programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In March 2011 PCT&rsquo;s
wholly owned subsidiary, Athelos, Inc. (Athelos), acquired rights and technology for a T-cell based immunomodulatory therapeutic
in exchange for an approximate 20% interest in Athelos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company further
strengthened its breadth in cellular therapies through its October 17, 2011 acquisition of Amorcyte, Inc. Amorcyte is a development
stage cell therapy company focusing on novel treatments for cardiovascular disease. Amorcyte&rsquo;s lead product candidate is
AMR-001. In January 2012, Amorcyte commenced patient enrollment for its PreSERVE Phase 2 trial to investigate AMR-001&rsquo;s ability
to preserve heart function after a heart attack.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company views
the PCT and Amorcyte acquisitions as fundamental to building a foundation in achieving its strategic mission of capturing the
paradigm shift to cell therapy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We acquired our Pharmaceutical
Manufacturing&nbsp;&mdash;&nbsp;China segment when on October 30, 2009, China Biopharmaceuticals Holdings, Inc. (&ldquo;CBH&rdquo;)
merged with a wholly-owned subsidiary of NeoStem (the &ldquo;Erye Merger&rdquo;). As a result of the Erye Merger, NeoStem acquired
CBH&rsquo;s 51% ownership interest in Erye, a Sino-foreign joint venture with limited liability organized under the laws of the
PRC. Erye was founded more than 50 years ago and represents an established, vertically-integrated pharmaceutical business. Historically,
Erye has concentrated its efforts on the manufacturing and distribution of generic antibiotic products. In 2010, Erye began transferring
its operations to its newly constructed manufacturing facility, as to which construction is now substantially completed. The relocation
and the new production lines have been completed and received cGMP certification. As part of its plan to focus its business on
capturing the paradigm shift to cell therapies following the January 2011 acquisition of PCT, the Company is pursuing strategic
alternatives with respect to its interest in Erye.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Three Months Ended March 31, 2012 Compared
to Three Months Ended March 31, 2011</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">Net
loss for the three months ended March 31, 2012 was approximately $</FONT>9,206,900<FONT STYLE="color: black"> compared to $</FONT>9,699,800
<FONT STYLE="color: black">for the three months ended March 31, 2011. Our net loss from continuing operations for the three months
ended March 31, 2012 and 2011 was approximately $</FONT><FONT STYLE="font-size: 10pt">7,483,200</FONT><FONT STYLE="color: black">
and $</FONT>8,771,000<FONT STYLE="color: black">, respectively. Included in net loss are losses from discontinued operation of
approximately $</FONT>1,723,700<FONT STYLE="color: black"> and $</FONT><FONT STYLE="font-size: 10pt">928,800</FONT><FONT STYLE="color: black">
for the three months ended March 31, 2012 and 2011, respectively, related to the deconsolidation of our Regenerative Medicine
&ndash; China segment in the first quarter of 2012. As a result, the results of the Regenerative Medicine &ndash; China segment
are presented as discontinued operations for all periods presented.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Revenues</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">For
the three months ended March 31, 2012, total revenues were approximately $</FONT>22,056,800<FONT STYLE="color: black"> compared
to $19,591,000 for the three months ended March 31, 2011. Revenues for each period were comprised of the following (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left">Pharmaceutical Manufacturing - China</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">18,284.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">18,141.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cell Therapy - United States</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,772.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,449.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">22,056.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,591.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">Revenues
                                                                                                                        for our
                                                                                                                        Pharmaceutical
                                                                                                                        Manufacturing&nbsp;&mdash;&nbsp;China
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        were approximately
                                                                                                                        $</FONT>18,284,000
                                                                                                                        <FONT STYLE="color: black">for
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2012
                                                                                                                        compared
                                                                                                                        to $18,141,900
                                                                                                                        for the
                                                                                                                        three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2011,
                                                                                                                        representing
                                                                                                                        a increase
                                                                                                                        of approximately
                                                                                                                        $</FONT>142,100
                                                                                                                        <FONT STYLE="color: black">or
                                                                                                                        1%. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The modest increase in revenues
is due to a combination of factors. In 2011, a strategic decision was taken to adjust the product mix and eliminate certain low
margin pharmaceutical intermediates, which continues to impact revenue for the three months ended March 31, 2012, and has reduced
sales 6% in comparison to the same period for 2011. Revenues from sales of antibiotics, cephalosporins and other therapeutic products
increased approximately 3% for the three months ended March 31, 2012 compared to the same period for 2011. The unit volume of
antibiotics, cephalosporins and other therapeutic products increased approximately 10% due to increased marketing efforts. The
increase in product volume was offset by an approximate 7% decline in revenues as a result of price reductions in connection with
specific government policies for products on China&rsquo;s essential drug list. We recognize that there will be continuous price
pressure on these products as over 70% of Erye&rsquo;s manufactured drugs are on China&rsquo;s essential drug list. Revenues for
the three months ended March 31, 2012 compared to the same period for 2011 increased due to changes in foreign exchange rates
between the Chinese RMB and United States dollar by approximately 4%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">Revenues
                                                                                                                        for our
                                                                                                                        Cell Therapy&nbsp;&mdash;&nbsp;United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        were approximately
                                                                                                                        $</FONT>3,772,800
                                                                                                                        <FONT STYLE="color: black">for
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2012
                                                                                                                        compared
                                                                                                                        to $1,449,100
                                                                                                                        for the
                                                                                                                        three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2011
                                                                                                                        representing
                                                                                                                        an increase
                                                                                                                        of</FONT>
                                                                                                                        160%<FONT STYLE="color: black">.
                                                                                                                        The increase
                                                                                                                        in revenue
                                                                                                                        is attributable
                                                                                                                        to growth
                                                                                                                        in PCT&rsquo;s
                                                                                                                        clinical
                                                                                                                        manufacturing
                                                                                                                        and process
                                                                                                                        development
                                                                                                                        services.
                                                                                                                        This increase
                                                                                                                        in revenue
                                                                                                                        is partially
                                                                                                                        due to
                                                                                                                        an increased
                                                                                                                        operating
                                                                                                                        period
                                                                                                                        in 2012
                                                                                                                        in comparison
                                                                                                                        to 2011,
                                                                                                                        since
                                                                                                                        the acquisition
                                                                                                                        of PCT
                                                                                                                        was not
                                                                                                                        completed
                                                                                                                        until
                                                                                                                        January
                                                                                                                        19, 2011.
                                                                                                                        The majority
                                                                                                                        of the
                                                                                                                        increase
                                                                                                                        in revenues
                                                                                                                        for our
                                                                                                                        Cell Therapy
                                                                                                                        &ndash;
                                                                                                                        United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        is the
                                                                                                                        result
                                                                                                                        of the
                                                                                                                        increased
                                                                                                                        visibility
                                                                                                                        of PCT
                                                                                                                        through
                                                                                                                        enhanced
                                                                                                                        marketing
                                                                                                                        programs
                                                                                                                        and increased
                                                                                                                        penetration
                                                                                                                        into the
                                                                                                                        cell therapy
                                                                                                                        marketplace
                                                                                                                        driven
                                                                                                                        by NeoStem&rsquo;s
                                                                                                                        investment
                                                                                                                        in PCT.
                                                                                                                        </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">The
cost of revenue was approximately $</FONT>16,321,500<FONT STYLE="color: black"> representing an increase of approximately $</FONT>2,045,000
<FONT STYLE="color: black">for the three months ended March 31, 2012 compared to $14,276,500 for the three months ended March
31, 2011. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">The
                                                                                                                        cost of
                                                                                                                        revenue
                                                                                                                        in the
                                                                                                                        Pharmaceutical
                                                                                                                        Manufacturing&nbsp;&mdash;&nbsp;China
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        was approximately
                                                                                                                        $</FONT>13,365,800
                                                                                                                        <FONT STYLE="color: black">for
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2012
                                                                                                                        increasing
                                                                                                                        6% over
                                                                                                                        the prior
                                                                                                                        year period.
                                                                                                                        The cost
                                                                                                                        of production
                                                                                                                        increased
                                                                                                                        as a result
                                                                                                                        of increases
                                                                                                                        in the
                                                                                                                        unit volumes
                                                                                                                        of antibiotics,
                                                                                                                        cephalosporins
                                                                                                                        and other
                                                                                                                        therapeutic
                                                                                                                        product
                                                                                                                        sales.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">The
                                                                                                                        cost of
                                                                                                                        revenue
                                                                                                                        for Cell
                                                                                                                        Therapy&nbsp;&mdash;&nbsp;United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        was $</FONT>2,955,700
                                                                                                                        <FONT STYLE="color: black">for
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2012,
                                                                                                                        an increase
                                                                                                                        of approximately
                                                                                                                        $1,285,500
                                                                                                                        compared
                                                                                                                        to the
                                                                                                                        same period
                                                                                                                        for 2011.
                                                                                                                        The increase
                                                                                                                        in cost
                                                                                                                        of revenue
                                                                                                                        for our
                                                                                                                        Cell Therapy
                                                                                                                        &mdash;
                                                                                                                        United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        is attributable
                                                                                                                        to increases
                                                                                                                        in PCT&rsquo;s
                                                                                                                        clinical
                                                                                                                        manufacturing
                                                                                                                        and process
                                                                                                                        development
                                                                                                                        services.
                                                                                                                        This increase
                                                                                                                        in production
                                                                                                                        costs
                                                                                                                        is partially
                                                                                                                        due to
                                                                                                                        an increased
                                                                                                                        operating
                                                                                                                        period
                                                                                                                        in 2012
                                                                                                                        in comparison
                                                                                                                        to 2011
                                                                                                                        since
                                                                                                                        the acquisition
                                                                                                                        of PCT
                                                                                                                        was not
                                                                                                                        completed
                                                                                                                        until
                                                                                                                        January
                                                                                                                        19, 2011.
                                                                                                                        The majority
                                                                                                                        of the
                                                                                                                        increase
                                                                                                                        in cost
                                                                                                                        of production
                                                                                                                        for our
                                                                                                                        Cell Therapy
                                                                                                                        &ndash;
                                                                                                                        United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        is due
                                                                                                                        to a general
                                                                                                                        increase
                                                                                                                        in revenue
                                                                                                                        as discussed
                                                                                                                        above.
                                                                                                                        </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Operating Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">For
the three months ended March 31, 2012 operating expenses totaled $</FONT><FONT STYLE="font-size: 10pt">12,166,700</FONT><FONT STYLE="color: black">
compared to $12,390,100 for the three months ended March 31, 2011, representing an decrease of $</FONT>223,400<FONT STYLE="color: black">
or</FONT> 2%<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">Historically,
to minimize our use of cash, we have used a variety of equity and equity-linked instruments to pay for services and to incentivize
employees, consultants and other service providers. The use of these instruments has resulted in significant charges to the results
of operations. In general, these equity and equity-linked instruments were used to pay for employee and consultant compensation,
director fees, marketing services, investor relations and other activities. For the three months ended March 31, 2012 the use
of equity and equity-linked instruments to pay for such expenses resulted in charges to selling, general, and administrative,
and research and development expenses totaling $</FONT>2,384,700<FONT STYLE="color: black"> representing an increase of $</FONT><FONT STYLE="font-size: 10pt">485,800
</FONT><FONT STYLE="color: black">compared to the three months ended March 31, 2011.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">For
the three months ended March 31, 2012, our selling, general, and administrative expenses were approximately $</FONT>9,452,200
<FONT STYLE="color: black">compared to approximately $9,634,900 for the three months ended March 31, 2011, representing an decrease
of approximately $</FONT>182,700<FONT STYLE="color: black"> or</FONT> 2%<FONT STYLE="color: black">. Equity-based compensation
included in selling, general and administrative expenses for the three months ended March 31, 2012 was approximately $</FONT>2,223,400<FONT STYLE="color: black">,
compared to approximately $1,638,800 for the three months ended March 31, 2011. Overall, the increase in selling, general and
administrative expenses for the three months ended March 31, 2012 compared to the prior year period was primarily due to the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">A
                                                                                                                        decrease
                                                                                                                        of approximately
                                                                                                                        $</FONT><FONT STYLE="font-size: 10pt">36,800
                                                                                                                        </FONT><FONT STYLE="color: black">in
                                                                                                                        the Cell
                                                                                                                        Therapy&nbsp;&mdash;&nbsp;United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment,
                                                                                                                        due to
                                                                                                                        a one-time
                                                                                                                        contribution
                                                                                                                        of $607,400
                                                                                                                        paid in
                                                                                                                        equity
                                                                                                                        during
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2011
                                                                                                                        to the
                                                                                                                        Stem for
                                                                                                                        Life Foundation,
                                                                                                                        and a
                                                                                                                        decrease
                                                                                                                        of approximately
                                                                                                                        $301,000
                                                                                                                        related
                                                                                                                        to administrative
                                                                                                                        activities.
                                                                                                                        The decrease
                                                                                                                        was partially
                                                                                                                        offset
                                                                                                                        by an
                                                                                                                        increase
                                                                                                                        of approximately
                                                                                                                        $</FONT>584,600
                                                                                                                        <FONT STYLE="color: black">related
                                                                                                                        to employee,
                                                                                                                        director
                                                                                                                        and consultant
                                                                                                                        equity
                                                                                                                        compensation,
                                                                                                                        and an
                                                                                                                        increase
                                                                                                                        of approximately
                                                                                                                        $</FONT>287,000
                                                                                                                        <FONT STYLE="color: black">related
                                                                                                                        to expenses
                                                                                                                        from our
                                                                                                                        PCT business,
                                                                                                                        which
                                                                                                                        was acquired
                                                                                                                        in January
                                                                                                                        2011.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">An
                                                                                                                        decrease
                                                                                                                        of approximately
                                                                                                                        $</FONT><FONT STYLE="font-size: 10pt">145,900
                                                                                                                        </FONT><FONT STYLE="color: black">in
                                                                                                                        our Pharmaceutical
                                                                                                                        Manufacturing&nbsp;&mdash;&nbsp;China
                                                                                                                        reporting
                                                                                                                        segment,
                                                                                                                        comprised
                                                                                                                        primarily
                                                                                                                        of a $710,400
                                                                                                                        increase
                                                                                                                        in taxes
                                                                                                                        related
                                                                                                                        to withholding
                                                                                                                        taxes
                                                                                                                        paid on
                                                                                                                        dividends
                                                                                                                        declared
                                                                                                                        in January,
                                                                                                                        2011.
                                                                                                                        This decrease
                                                                                                                        was partially
                                                                                                                        offset
                                                                                                                        by approximately
                                                                                                                        $508,600
                                                                                                                        in cGMP
                                                                                                                        certification
                                                                                                                        fees for
                                                                                                                        the new
                                                                                                                        Erye manufacturing
                                                                                                                        facility.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">For
the three months ended March 31, 2012, our research and development expenses were $</FONT>2,714,500<FONT STYLE="color: black">
compared to $2,755,200 for the three months ended March 31, 2011, representing an decrease of approximately $</FONT>40,700<FONT STYLE="color: black">
or 1%. Equity-based compensation included in research and development expenses for the three months ended March 31, 2012 was approximately
$</FONT>161,300<FONT STYLE="color: black">, compared to approximately $260,100 for the three months ended March 31,2011. Overall,
the decrease in research and development expenses for the three months ended March 31, 2012 compared to the prior year period
was primarily due to the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">An
                                                                                                                        decrease
                                                                                                                        of approximately
                                                                                                                        $</FONT>578,000
                                                                                                                        <FONT STYLE="color: black">in
                                                                                                                        our Cell
                                                                                                                        Therapy&nbsp;&mdash;&nbsp;United
                                                                                                                        States
                                                                                                                        reporting
                                                                                                                        segment.
                                                                                                                        During
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2012,
                                                                                                                        we expensed
                                                                                                                        approximately
                                                                                                                        $1,035,400
                                                                                                                        related
                                                                                                                        to the
                                                                                                                        ongoing
                                                                                                                        Phase
                                                                                                                        II AMR-001
                                                                                                                        clinical
                                                                                                                        trial
                                                                                                                        that was
                                                                                                                        initiated
                                                                                                                        in January
                                                                                                                        2012.
                                                                                                                        The AMR-001
                                                                                                                        clinical
                                                                                                                        candidate
                                                                                                                        was acquired
                                                                                                                        in October
                                                                                                                        2011.
                                                                                                                        Research
                                                                                                                        and development
                                                                                                                        expenses,
                                                                                                                        however,
                                                                                                                        declined
                                                                                                                        compared
                                                                                                                        to the
                                                                                                                        prior
                                                                                                                        year period
                                                                                                                        as a result
                                                                                                                        of $927,000
                                                                                                                        in-process
                                                                                                                        research
                                                                                                                        and development
                                                                                                                        charge
                                                                                                                        incurred
                                                                                                                        during
                                                                                                                        the three
                                                                                                                        months
                                                                                                                        ended
                                                                                                                        March
                                                                                                                        31, 2011,
                                                                                                                        and $587,600
                                                                                                                        in additional
                                                                                                                        reductions
                                                                                                                        as a result
                                                                                                                        of reduced
                                                                                                                        internal
                                                                                                                        research
                                                                                                                        activities
                                                                                                                        relating
                                                                                                                        to our
                                                                                                                        VSEL Technology,
                                                                                                                        the subletting
                                                                                                                        a portion
                                                                                                                        of the
                                                                                                                        Cambridge
                                                                                                                        laboratory
                                                                                                                        used for
                                                                                                                        VSEL research,
                                                                                                                        and focusing
                                                                                                                        on supporting
                                                                                                                        VSEL research
                                                                                                                        activities
                                                                                                                        with our
                                                                                                                        external
                                                                                                                        research
                                                                                                                        collaborators.
                                                                                                                        The Company
                                                                                                                        is reviewing
                                                                                                                        its research
                                                                                                                        and development
                                                                                                                        activities
                                                                                                                        with the
                                                                                                                        goal of
                                                                                                                        focusing
                                                                                                                        its resources
                                                                                                                        on its
                                                                                                                        most valuable
                                                                                                                        initiatives involving therapies that are taken through the traditional regulatory approval process.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: black">An
                                                                                                                        increase
                                                                                                                        of approximately
                                                                                                                        $</FONT>537,300
                                                                                                                        <FONT STYLE="color: black">in
                                                                                                                        our Pharmaceutical
                                                                                                                        Manufacturing&nbsp;&mdash;&nbsp;China
                                                                                                                        reporting
                                                                                                                        segment
                                                                                                                        as a result
                                                                                                                        of increased
                                                                                                                        clinical
                                                                                                                        development
                                                                                                                        efforts
                                                                                                                        on products
                                                                                                                        under
                                                                                                                        development.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As part of our plan
to focus on capturing the paradigm shift to cell therapies following our January 2011 acquisition of PCT, we are pursuing strategic
alternatives with respect to our 51% interest in Erye and anticipate we will have monetized our interests in Erye by the close
of 2012, although no assurances can be given as to whether a sale will be consummated or the amount of funding such sale will
provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Income and Expense</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">For
the three months ended March 31, 2012 interest expense was $</FONT>1,096,100<FONT STYLE="color: black"> compared with $852,200
for the three months ended March 31, 2011, an increase of $</FONT>243,900<FONT STYLE="color: black">. The increase was primarily
due to an increase in amortization of debt discount related to the Series E Preferred Stock of $</FONT>204,200<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">Other
income (expense), net for the three months ended March 31, 2012 totaled approximately $</FONT>166,700<FONT STYLE="color: black">
of other income, compared with $250,400 of other expense for the three months ended March 31, 2011. The other income in 2012,
and the other expense in 2011 is primarily due to the revaluation of derivative liabilities that have been established in connection
with the Convertible Redeemable Series E Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Provision for Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">The
income tax provision for the three months ended March 31, 2012 and 2011, were $</FONT>122,300<FONT STYLE="color: black"> and $592,600,
respectively, and were related to foreign taxes in our Pharmacuetical Manufacturing &ndash; China reporting segment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Discontinued Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In 2009, the Company
began its Regenerative Medicine-China business in the People&rsquo;s Republic of China (&ldquo;China&rdquo; or &ldquo;PRC&rdquo;)
through its subsidiary, a wholly foreign owned entity (&ldquo;WFOE&rdquo;) and entered into contractual arrangements with certain
variable interest entities (&ldquo;VIEs&rdquo;). Foreign companies have commonly used VIE structures to operate in the PRC, and
while such structures are not uncommon, recently they have drawn greater scrutiny from the local Chinese business community in
the PRC who have urged the PRC State Council to clamp down on these structures. In addition, in December 2011, China&rsquo;s Ministry
of Health announced its intention to more tightly regulate stem cell clinical trials and stem cell therapeutic treatments in the
PRC, which has created uncertainty regarding the ultimate regulatory environment in the PRC. Accordingly, the Company has been
taking steps to restrict, with the expectation of ultimately eliminating, its regenerative medicine business in the PRC. The Company
has concluded that as a result of these steps, to discontinue operations in its Regenerative Medicine-China business. The Company
has determined that any liability arising from the activities of the WFOE and the VIEs will likely be limited to the net assets
currently held by each entity. As of March 31, 2012, the Company recognized the following loss on exit of the Regenerative Medicine-China
business (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 76%">Cash</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 20%; text-align: right">195.1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,023.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">330.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(177.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(79.2</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(169.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Loss on exit of segment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,138.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The operations and
cash flows of the Regenerative Medicine - China business will be eliminated from ongoing operations as a result of our exit decision.
The Company will have no continuing involvement in this business going forward. <FONT STYLE="color: black">The operating results
of the Regenerative Medicine &ndash; China business for the three months ended March 31, 2012 and 2011, which are included in
discontinued operations, were as follows (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%">Revenue</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">52.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">50.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Cost of revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30.6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(18.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(103.3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(158.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Selling, general, and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(497.3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(790.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other income (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6.8</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12.7</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss on exit of segment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,138.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Loss from discontinued operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1,723.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(928.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Non-Controlling Interests</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">In
connection with accounting for the Company&rsquo;s 51% interest in Erye, we account for the 49% minority shareholder share of
Erye&rsquo;s net income or loss with a charge to Noncontrolling Interests. For the three months ended March 31, 2012 and 2011, Erye&rsquo;s
minority shareholders&rsquo; share of net loss totaled approximately $</FONT>243,000<FONT STYLE="color: black"> and $660,500,
respectively. In addition, the Company acquired rights to use patents under licenses from Becton, Dickinson and Company in March
2011, in exchange for an approximately 20% interest in PCT&rsquo;s Athelos subsidiary. For the three months ended March 31, 2012
and 2011, Becton&rsquo;s minority shareholder&rsquo;s share of Athelos&rsquo; net loss totaled approximately $</FONT>101,800<FONT STYLE="color: black">
and $299,800, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Preferred Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Convertible Redeemable
Series E Preferred Stock calls for annual dividends of 7% based on the stated value of the preferred stock and we recorded dividends
of approximately $107,800 and $186,600 for the three months ended March 31, 2012 and March 31, 2011 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Analysis of Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">At
March 31, 2012 we had a cash balance of approximately $</FONT>21,771,400<FONT STYLE="color: black">, working capital of approximately
$</FONT>5,840,400<FONT STYLE="color: black">, and shareholders&rsquo; equity of approximately $</FONT>63,371,100<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">During the three
months ended March 31, 2012, we met our immediate cash requirements through existing cash balances, private placements and a public
offering of our common stock and warrants, which in total, raised an aggregate of approximately $9,050,000, the issuance of notes
payable and bank loans providing $2,160,000 net, for our operations in China and the use of equity and equity-linked instruments
to pay for services and compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">We
incurred a net loss of approximately $</FONT>9,206,900<FONT STYLE="color: black"> for the three months ended March 31, 2012. The
following chart represents the net funds provided by or used in operating, financing and investing activities for each period
indicated (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Three Months Ended March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left">Net cash provided by (used in) operating activities</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">2,106.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">(10,195.1</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(110.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(3,104.6</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net cash provided by financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,185.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,080.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operating Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">Our
cash provided by operating activities in the three months ended March 31, 2012 totaled approximately $</FONT>2,106,400<FONT STYLE="color: black">,
which is the sum of (i) our net loss of $</FONT>9,206,900,<FONT STYLE="color: black"> adjusted for non-cash expenses totaling $</FONT>6,526,600
<FONT STYLE="color: black">(which includes adjustments for equity-based compensation, depreciation and amortization, and the loss
on exit of the Regenerative Medicine &ndash; China business, and (ii) changes in operating assets and liabilities providing approximately
$</FONT>4,786,700<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">During
the three months ended March 31, 2012, we spent approximately $</FONT>110,100<FONT STYLE="color: black"> for property and equipment
principally related to the construction of Erye&rsquo;s new manufacturing facility.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Financing Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The
Company raised an aggregate of approximately $2.25 million in a private placement consummated in February 2012 in which
three entities acquired an aggregate of 3,465,404 shares of Common Stock. On May 11, 2012, we consummated a private
placement pursuant to which  three persons and/or entities acquired an aggregate of 3,250,000 Units (the
&ldquo;Units&rdquo;), each Unit consisting of one share of common stock and one warrant for an aggregate consideration of
$1.3 million at $0.40 per Unit. The warrants have an exercise price of $0.51, expiring five years from the date of issuance
and are exercisable after a period of six months. One of the investors included Martyn Greenacre (one of the company&rsquo;s
directors) (who purchased 250,000 Units).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In March 2012, the
Company completed an underwritten offering of 15,000,000 units at a purchase price of $0.40 per unit, with each unit consisting
of one share of Common Stock and a five year warrant to purchase one share of Common Stock at an exercise price of $0.51 per share
(the &ldquo;Offering&rdquo;). The Company sold securities in the Offering under the Company&rsquo;s previously filed shelf registration
statement on Form S-3 (333-173855), which was declared effective by the Securities and Exchange Commission on June 13, 2011. The
Company received gross proceeds of $6,000,000, prior to deducting underwriting discounts and offering expenses payable by the
Company, for net proceeds of approximately $5,297,000. In April 2012, the underwriters in the Offering exercised their over-allotment
option for an additional 2,000,000 units. The Company received additional gross proceeds of $800,000, prior to deducting underwriting
discounts, for net proceeds of approximately $744,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">L<FONT STYLE="color: black"><B>iquidity and Capital Requirements
Outlook</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital Requirements &ndash; Pharmaceutical
Manufacturing &ndash; China Segment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We are pursuing the
divestiture of Erye and anticipate it will have been exited by the close of 2012. For so long as we own an interest in Erye, we
expect to rely partly on dividends under the Joint Venture Agreement attributable to our 51% ownership interest in Erye, to meet
some of our future cash needs with respect to continued operations in China. In addition, pursuant to the Joint Venture Agreement
that governs the ownership and management of Erye, for 2011 and approximately the next year: 45% of the net profit after tax due
to the Company, in the form of dividends, will be provided to Erye as part of the new facility construction fund, which will be
characterized as additional paid-in capital for our 51% interest in Erye; and only 6% of the net profit will be distributed to
us directly. To date, we have been paid from the 2010 distribution the amount of approximately $140,400.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Erye has substantially
completed the construction of its new pharmaceutical manufacturing facility. Erye began transferring its operations to its new
manufacturing facility in January 2010. The relocation and new production lines have been completed and have received cGMP certification.
It was contemplated by the Joint Venture Agreement that the construction would continue for three years. As such, 45% of the dividend
we would be entitled to by reason of our 51% ownership would remain in Erye through 2012 to complete the construction while EET
would loan back their dividend during the same period at a prevailing bank interest rate. Upon a liquidity event of Erye, as contemplated
in the joint venture agreement, the Company will be entitled to the return of its dividend reinvestments to the extent of the
proceeds generated by the liquidity event. Repayment of such loans from EET would occur gradually after the construction is completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The payment of dividends
by entities organized under PRC law to non-PRC entities is subject to limitations. Regulations in the PRC currently permit payment
of dividends by Erye only out of accumulated distributable earnings, if any, as determined in accordance with accounting standards
and regulations in China. Moreover, Erye are required to appropriate from PRC GAAP profit after tax to other non-distributable
reserve funds. These reserve funds include one or more of the following: (i) a general reserve, (ii) an enterprise expansion fund
and (iii) a staff bonus and welfare fund. Subject to certain cumulative limits (i.e., 50% of the registered capital of the relevant
company), the general reserve fund requires annual appropriation at 10% of after tax profit (as determined under accounting principles
generally accepted in the PRC at each year-end); the appropriation to the other funds are at the discretion of Erye. In addition,
if Erye incurs debt on its own behalf in the future, the instruments governing the debt may restrict Erye&rsquo;s or the joint
venture&rsquo;s ability to pay dividends or make other distributions to us. This may diminish the cash flow we receive from Erye&rsquo;s
operations, which would have a material adverse effect on our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We recognize that
there will be continuous price pressure on Erye as over 70% of Erye&rsquo;s manufactured drugs are on the essential drug list.
There has recently been evidence of such price pressure&nbsp;&mdash;&nbsp;i.e., on March 2, 2011 the National Development and
Reform Commission issued price cuts for medical insurance drugs which substantially impacts two of Erye&rsquo;drugs. We anticipate
that Piperacillin Sodium and Sulbactam Sodium will experience as much as a 50% price decline while the price of Ligustrazine Phosphate
may be reduced by approximately 75%. During 2011 the price reductions experienced by Erye on these products was approximately
24%. In 2011 Piperacillin Sodium and Sulbactum Sodium accounted for approximately 5% of sales and Ligustrazine Phosphate accounted
for approximately 1% of sales. Recently, the Ministry of Health issued, for public comment, a draft policy &ldquo;Administrative
Measures on Clinical Use of Antibiotic Drugs&rdquo; to curb their overuse. The proposed guidelines set forth three categories
of antibiotics, which include 1) restricted, 2) non-restricted, and 3) special-use only. According to the October 12, 2011 China
Healthcare report published by Deutsche Bank, AG (the &ldquo;China Healthcare report&rdquo;), it has been projected that the limitation
of antibiotic usage in China will reduce the historical compound annual growth rate which has been approximately 20%. It has been
estimated that China&rsquo;s population consumes about ten times the global per capita average of antibiotics. These regulations
have not been finalized but issuance of a draft policy has created uncertainty on the part of distributors and has reduced purchases
by distributors and in part has contributed to sales reductions in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital Requirements &ndash; Cell Therapy
&ndash; United States Segment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">NeoStem,
Inc. acquired Amorcyte, Inc. (&ldquo;Amorcyte&rdquo;), in October 2011.</FONT> T<FONT STYLE="color: black">he Company expects
to incur substantial additional costs in connection with its transition to a cell therapy development company. In particular,
Amorcyte is currently recruiting clinical trial sites for an approximate 34 site, 160 patient, Phase 2 clinical trial for
Amorcyte&rsquo;s lead product candidate, AMR-001, for the treatment of AMI. The trial began enrollment in January 2012, and
is expected to cost approximately $14 million over the first two years and anticipated to cost up to approximately $18
million over a five year period, inclusive of manufacturing costs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We anticipate that
we will take further steps to raise additional capital in order to (i) fund the development of advanced cell therapies, particularly
the development of AMR-001, and (ii) expand the PCT business, which may be used for certain aspects of the family banking business.
To meet our short and long term liquidity needs, we currently expect to use existing cash balances and the growth of our revenue
generating activities, and a variety of other means that could include, but not be limited to, the use of our current or other
equity lines, potential additional warrant exercises, option exercises, issuances of other debt or equity securities in public
or private financings, and/or sale of assets. We also continue to pursue strategic alternatives with respect to our 51% interest
in Erye and anticipate we will have monetized our interests in Erye by the close of 2012, although no assurance can be given as
to whether a sale will be consummated or the amount of funding such sale will provide. In addition, we will continue to seek as
appropriate grants for scientific and clinical studies from the National Institutes of Health, Department of Defense, and other
governmental agencies and foundations, but there can be no assurance that we will be successful in qualifying for or obtaining
such grants. We also have $2.5 million recorded in other assets for restricted cash associated with our Series E Preferred Stock,
which is held in escrow and will become available to meet current cash requirements in November 2012. The Series E also contains
certain restrictive covenants that could limit our ability to use debt as a source of capital. Our history of operating losses
and liquidity challenges, may make it difficult for us to raise capital on acceptable terms or at all. The demand for the equity
and debt of small cap biopharmaceutical companies like ours is dependent upon many factors, including the general state of the
financial markets. During times of extreme market volatility, capital may not be available on favorable terms, if at all. Our
inability to obtain such additional capital could materially and adversely affect our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In connection with
the Welman litigation, the Changsha Intermediate Court was applied to for property preservation and it issued a civil decision
freezing Erye&rsquo;s bank deposits of up to 50 million RMB, or approximately $7.9 million, or sealing up or detaining Erye&rsquo;s
other properties of equal value. Currently this case is pending. As of March 31, 2012, approximately 16,808,000 RMB (approximately
$2.7 million) of cash had been frozen in six bank accounts, and is classified in Other Assets. As a result of this court action,
Erye has been obligated to increase its bank borrowings to offset its reduction in liquidity, and may consider seeking additional
bank loans. At March 31, 2012, Erye had bank borrowings of $15.8 million, and had cash balances in bank accounts not affected
by the action totaling $14.8 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We plan to devote
our resources and management efforts to cell therapy manufacturing and development, and other related activities, including adult
stem cell collection and storage. We believe the October 2011 acquisition of Amorcyte described elsewhere herein is in keeping
with this strategic mission. We also believe that if we could monetize Erye, we would have additional capital needed to pursue
the development of cell therapies. To that end, in June 2011, we engaged a financial advisor to lead the effort to pursue the
possible divesture of our 51% interest in Erye. Marketing efforts have led to a few non-binding letters of intent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Any sale of our interest
in Erye would be subject to a right of first refusal held by Suzhou Erye Economy &amp; Co. Ltd. (&ldquo;EET&rdquo;) pursuant to
the terms of the Joint Venture Agreement between a subsidiary of ours and EET. EET owns the remaining 49% interest in Erye. A
number of issues have arisen between EET and NeoStem with respect to the operation and financing of Erye. For instance, while
pursuant to the terms of the Joint Venture Agreement EET is required to lend back to Erye dividends received by it to finance
Erye&rsquo;s move to and construction of its new facilities, Erye has recently reported to us that such arrangement is no longer
tax efficient in light of the ratio of Erye&rsquo;s shareholder loans to its registered capital. In connection with exploring
ways to remedy the additional tax burden caused by the level of shareholder loans and in preparing for a sale process, other issues
have also surfaced, including the issue of us and Erye needing to obtain all Chinese regulatory approvals (and associated registrations)
required to reflect the legal title of our interest in Erye as being held by the proper entity within our group which is its current
beneficial owner as that term is used under U.S. law. We believe we have now determined what government approvals (and associated
registrations) will need to be issued by the Suzhou Municipal Bureau of Foreign Investment and Commerce and the Suzhou Administration
for Industry and Commerce to remediate these deficiencies and we have had counsel in China prepare these filings. Our management
believes these regulatory deficiencies can be remediated and should not delay a sale of the Company&rsquo;s interest in Erye to
EET, should EET be the purchasers, though the remediation could delay a sale to a third party. However, we require the cooperation
of the officers of Erye, as to which no assurance can be given, and we could be compelled to seek to replace those officers or
to commence legal action to obtain the required consents or otherwise move forward with requisite filings and have begun taking
such steps. In addition, even if the filings are made, no assurance can be given that any unremediated regulatory deficiencies
would not have an adverse effect on the operating results and liquidity of Erye and the Company and will not impede or delay efforts
to divest our interest in Erye. In addition, the remediation process is expected to trigger certain tax liabilities and penalties.
At this time the Company does not expect such amounts to be material. In May 2012, Madame Zhang Jian, Erye&rsquo;s current General
Manager and CFO, resigned the position she holds with NeoStem as its Vice President, Pharmaceutical Operations. Since Madame Zhang
Jian is also a shareholder of EET, and EET is a potential buyer of our 51% interest in Erye, her resignation may eliminate some
conflicts of interest that might occur in the sale process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We may not be able
to materially enhance our liquidity through a sale of our interest in Erye. The challenging nature of the current China pharmaceutical
market makes it a difficult time for us to be pursuing a divestiture of our 51% ownership interest in Erye, and we expect that
any sale of this interest will result in our not recouping our original investment. A sale of our interest in Erye, if a sale
can be consummated, would have a material effect on our business, results of operations and balance sheet. Factors that may impede
a sale may include, but not be limited to, (i) EET&rsquo;s right of first refusal and the significant time and money that exercise
of such right could cause a potential purchaser, (ii) the need for any purchaser to negotiate a new Joint Venture Agreement and
a $21 million shareholder loan repayment schedule with EET if EET does not wish to either sell its interest or exercise its right
of first refusal, (iii) recent regulatory changes in China which reduce prices that may be charged for certain of Erye&rsquo;s
products and limit use of antibiotics, (iv) recent disappointing financial performance by Erye resulting at least in part from
such regulatory changes, including a decrease in revenues in 2011 and a net loss for fourth quarter 2011, (v) tax or regulatory
issues affecting Erye, including those described above and which will adversely affect Erye going forward, (vi) availability of
financing for a potential purchaser, and (vii) the status of the remediation of the regulatory deficiencies discussed above, and
(viii) other factors typical of any sale process. There can be no assurance that any sale of our Erye interest will be made, or
will be made at a price that provides material additional capital for our cell therapy development efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">To support our liquidity
needs, the Company raised an aggregate of approximately $9.1 million (or net proceeds of approximately $8.3 million) in 2012 through
an underwritten public offering of common stock and warrants, and a private placement. In August 2011, the Department of Defense
(DOD) Peer Reviewed Medical Research Program (PRMRP) of the Office of the Congressionally Directed Medical Research Programs (CDMRP)
awarded NeoStem approximately $1.78 million to be applied towards funding the Company's VSEL<SUP> TM</SUP> Technology, which award
will support an investigation of a unique stem cell population, Very Small Embryonic-Like (VSEL) stem cells, for its bone building
and regenerative effects in the treatment of osteoporosis. In addition, in September 2011 we entered into the Purchase Agreement
with Aspire Capital which provided that Aspire Capital is committed to purchase up to $20 million of shares of the Company&rsquo;s
common stock over the 24-month term of that Agreement, subject to certain terms and conditions, including a floor price, that
is currently limiting its use. To date, the Company has not utilized this source of capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our &ldquo;shelf&rdquo;
Registration Statement on Form S-3 was filed on May 2, 2011 pursuant to General Instruction I.B.1 of Form S-3, because the aggregate
market value of our common equity held by non-affiliates (our &ldquo;public float&rdquo;) exceeded $75 million as of the relevant
measuring date. Our public float is now less than $75 million, (so as of our filing of this Annual Report on Form 10-K on March
20, 2012 our Company is now subject to General Instruction I.B.6 of Form S-3) which means that as long as our public float remains
below $75 million, the aggregate market value of securities sold by us or on our behalf pursuant to General Instruction I.B.6
of Form S-3 during any period of 12 calendar months may be no more than one-third of our public float measured as of a date within
60 days prior to each such sale. Our 2012 public offering applies against this limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">While we continue
to seek capital through a number of means, there can be no assurance that additional financing will be available on acceptable
terms, if at all, and our negotiating position in capital generating efforts may worsen as existing resources are used. Additional
equity financing may be dilutive to our stockholders; debt financing, if available, may involve significant cash payment obligations
and covenants that restrict our ability to operate as a business, our stock price may not reach levels necessary to induce option
or warrant exercises, and asset sales may not be possible on terms we consider acceptable. If we are unable to raise the funds
necessary to meet our long-term liquidity needs, we may have to delay or discontinue the acquisition and development of cell therapies,
and/or the expansion of our business or raise funds on terms that we currently consider unfavorable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Commitments and Contingencies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following table
reflects a summary of NeoStem&rsquo;s significant contractual obligations and commitments as of March 31, 2012 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Less than 1 Year</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">1-3 Years</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">3-5 Years</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">More than 5 Years</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Long-Term Debt Obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 30%; text-align: left; padding-left: 9pt">Series E Preferred Stock<SUP>(1)</SUP></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,731.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,941.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">790.9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Mortgages Payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,582.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">193.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">420.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">468.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,499.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Operating Lease Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,053.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,329.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,454.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,119.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">150.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,367.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,463.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,665.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,588.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,649.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Amounts include dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Under an agreement
with an external clinical research organization (&ldquo;CRO&rdquo;), we will incur expenses relating to our AMR-001 Phase 2 clinical
trial for the treatment of AMI. The timing and amount of these disbursements are based on the achievement of certain milestones,
patient enrollment, services rendered or as expenses are incurred by the CRO and therefore, we cannot reasonably estimate the
timing of these payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SEASONALITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NeoStem does not
believe that its operations are seasonal in nature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>OFF-BALANCE SHEET ARRANGEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">NeoStem does not
have any off-balance sheet arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This Quarterly Report
on Form 10-Q includes &ldquo;forward-looking&rdquo; statements within the meaning of the Private Securities Litigation Reform
Act of 1995, as well as historical information. Such forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different
from anticipated results, performance or achievements expressed or implied by such forward-looking statements. When used in this
Quarterly Report on Form 10-Q, statements that are not statements of current or historical fact may be deemed to be forward-looking
statements. Without limiting the foregoing, the words &ldquo;plan,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo;
&ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo; or &ldquo;continue&rdquo;
or similar expressions or other variations or comparable terminology are intended to identify such forward-looking statements,
although some forward-looking statements are expressed differently. Additionally, statements regarding our ability to successfully
develop, integrate and grow the business, including with regard to our research and development efforts in cellular therapy, our
adult stem cell and umbilical cord blood collection, processing and storage business, contract manufacturing and process development
of cellular based medicines, and the pharmaceutical manufacturing operations conducted in China, the future of regenerative medicine
and the role of stem cells in that future, the future use of stem cells as a treatment option and the role of VSEL<FONT STYLE="font-size: 10pt"><SUP>
TM</SUP></FONT> Technology in that future and the potential revenue growth of such businesses, are forward-looking statements.
Our future operating results are dependent upon many factors and our further development is highly dependent on future medical
and research developments and market acceptance, which is outside our control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Forward-looking statements,
including with respect to the successful execution of the Company&rsquo;s strategy, may not be realized due to a variety of factors
and we cannot guarantee their accuracy or that our expectations about future events will prove to be correct. Such factors include,
without limitation, (i) our ability to manage the business despite operating losses and cash outflows; (ii) our ability to obtain
sufficient capital or strategic business arrangements to fund our operations and expansion plans, including meeting our financial
obligations under various licensing and other strategic arrangements, the funding of our clinical trials for AMR-001, and the
commercialization of the relevant technology; (iii) our ability to build the management and human resources and infrastructure
necessary to support the growth of the business; (iv) our ability to integrate our acquired businesses successfully and grow such
acquired businesses as anticipated; (v) whether a large global market is established for our cellular-based products and services
and our ability to capture a share of this market; (vi) competitive factors and developments beyond our control; (vii) scientific
and medical developments beyond our control; (viii) our ability to obtain appropriate governmental licenses, accreditations or
certifications or comply with healthcare laws and regulations or any other adverse effect or limitations caused by government
regulation of the business; (ix) whether any of our current or future patent applications result in issued patents, the scope
of those patents and our ability to obtain and maintain other rights to technology required or desirable for the conduct of our
business; (x) whether any potential strategic benefits of various licensing transactions will be realized and whether any potential
benefits from the acquisition of these licensed technologies will be realized; (xi) the results of our development activities,
including the timing, enrollment, outcome and/or results of any clinical trials; (xii) our ability to successfully divest our
51% ownership of our Erye subsidiary and the value that may be realized given recent regulatory developments in China; and (xiii)
the other factors discussed in &ldquo;Risk Factors&rdquo; and elsewhere in this Quarterly Report on Form 10-Q and in the Company&rsquo;s
other periodic filings with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) which are available for review at<I>
www.sec.gov</I> under &ldquo;Search for Company Filings.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All forward-looking
statements attributable to us are expressly qualified in their entirety by these and other factors. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law,
the Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future
events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 3.&nbsp;&nbsp;QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable to smaller reporting companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 4.&nbsp;&nbsp;CONTROLS AND PROCEDURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(a)&nbsp;&nbsp;Disclosure Controls
and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">Disclosure controls
and procedures are the Company&rsquo;s controls and other procedures that are designed to ensure that information required to
be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;) is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission&rsquo;s
rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that
information required to be disclosed in the reports that the Company files under the Exchange Act is accumulated and communicated
to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding
required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls
and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control
objectives. Due to the inherent limitations of control systems, not all misstatements may be detected. These inherent limitations
include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of a simple error
or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people,
or by management override of the control. Controls and procedures can only provide reasonable, not absolute, assurance that the
above objectives have been met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">As of the end of the
Company&rsquo;s first fiscal quarter ended March 31, 2012 covered by this report, the Company carried out an evaluation, with
the participation of the Company&rsquo;s management, including the Company&rsquo;s Chief Executive Officer and Chief Financial
Officer, of the effectiveness of the Company&rsquo;s disclosure controls and procedures pursuant to Rule 13a-15 of the Exchange
Act. Based on that evaluation, the Company&rsquo;s Chief Executive Officer and Chief Financial Officer concluded that, because
of the material weakness in internal control over financial reporting described below, the Company&rsquo;s disclosure controls
and procedures were not effective, at the reasonable assurance level, in ensuring that information required to be disclosed by
the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within
the time periods specified in the SEC&rsquo;s rules and forms and is accumulated and communicated to management, including the
Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The following material
weakness has been identified by management in connection with its assessment as of December 31, 2011, which as of March 31, 2012,
the Company has concluded the material weakness has not been fully remediated. The Company has determined that Erye does not have
sufficient qualified accounting and finance personnel, which has resulted in the lack of appropriate (i) segregation of duties
in certain areas, (ii) detailed records for long term assets, (iii) knowledge of certain complex aspects of Chinese tax code,
and (iv) audit trails on certain transactions. During 2011, the Company took steps to strengthen Erye&rsquo;s competency in the
area of US GAAP, by hiring a director of international accounting with many years of US GAAP accounting and reporting experience,
but recognized that it needed to do more to address the day to day needs of Erye&rsquo;s accounting department. In April 2012,
Erye established a separate internal controls department, which will focus on strengthening accounting policies, and performing
sample audits. It will also ensure that staff members receive proper training and new policies are implemented appropriately.
The Company intends to take further steps to add appropriate personnel to the Erye accounting department and to increase the number
of qualified staff working in the department, and will reassess whether the material weakness is fully remediated by the end of
the second quarter of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(b)&nbsp;&nbsp;Changes in Internal
Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">There have been no
changes in the Company&rsquo;s internal controls over financial reporting, as such term is defined in Exchange Act Rule 13a-15,
that occurred during the Company&rsquo;s last fiscal quarter to which this report relates that have materially affected, or are
reasonably likely to materially affect, the Company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEOSTEM, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 1. LEGAL PROCEEDINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="color: black">There
are no material changes to the disclosures provided in the Company&rsquo;s Annual Report on Form 10-K for the year ended December
31, 2011</FONT>, <FONT STYLE="color: black">except as set forth in Note 17, Commitments and Contingencies, of the Notes to the
financial statements included elsewhere herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 1A. RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">There have been no
material changes from the risk factors previously disclosed in the Company&rsquo;s Annual Report on Form 10-K for the year ended
December 31, 2011. See the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2011 under &ldquo;Item 1
A &ndash; Risk Factors.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 2.&nbsp;&nbsp;UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As previously disclosed,
and as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company has agreed
to issue equity to certain consultants and other service providers for services. Effective April 1, 2012, pursuant to a six month
agreement for consulting services in investor relations and other specified related matters, the Company agreed to issue 72,000
shares of Restricted Common Stock, vesting ratably over the term of the agreement on a monthly basis. Also effective April 1,
2012, pursuant to an amendment to an agreement with a financial services consultant, the Company agreed to issue up to $7,500
of the consultant&rsquo;s monthly invoices, in shares of Restricted Common Stock for the remaining eight months of the term. Effective
April 11, 2012, the Company entered into a letter agreement with a service provider whereby the Company agreed to issue 34,406
shares of Restricted Common Stock as payment of services previously rendered. Effective April 12, 2012, pursuant to a three month
agreement for consulting services in business and financial relations and other specified related matters, the Company agreed
to issue 250,000 shares of the Company&rsquo;s Restricted Common Stock, vesting as to 62,500 on the effective date and 62,500
on each of the first, second and third monthly anniversaries of the effective date. Effective April 25, 2012, pursuant to a six
month agreement for consulting services in financial and investor public relations and other specified matters, the Company agreed
to issue 120,000 shares of the Company&rsquo;s Restricted Common Stock, vesting as to 20,000 shares on the effective date and
20,000 shares on each of the monthly anniversaries of the effective date throughout the term of the agreement. Effective April
30, 2012, pursuant to a one year agreement for consulting services in negotiation, drafting, the finalization of contracts and
other specified matters, the Company agreed to issue a five year warrant to purchase 60,000 shares of Restricted Common Stock
at $.36 per share, vesting ratably over the term of the agreement. The issuance of all such securities is or was subject to the
approval of the NYSE Amex.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0in; text-indent: 0.25in; text-align: justify">On
May 11, 2012, we consummated a private placement pursuant to which  three persons and/or entities acquired an aggregate
of 3,250,000  Units (the &ldquo;Units&rdquo;), each Unit consisting of one share of common stock and one warrant for
an aggregate consideration of $1.3&nbsp; million at $0.40 per Unit. The warrants have an exercise price of $0.51, expiring five years
from the date of issuance and are exercisable after a period of six months.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The offer and sale
by the Company of the securities described above were made in reliance upon the exemption from registration provided by Section
4(2) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), for transactions by an issuer not involving
a public offering. The offer and sale of such securities were made without general solicitation or advertising to &ldquo;accredited
investors&rdquo; as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 3.&nbsp;&nbsp;DEFAULTS UPON SENIOR SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 4.&nbsp;&nbsp;MINE SAFETY DISCLOSURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 5. OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">For information with respect to certain
recent issuances of equity in unregistered private transactions, see Part II &ndash; Item 2, Unregistered Sales of Equity Securities
and Use of Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 6.&nbsp;&nbsp;EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid; text-autospace: none; font-weight: bold; text-align: center; vertical-align: top">Exhibit</TD>
    <TD STYLE="width: 2%; text-autospace: none; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 76%; border-bottom: windowtext 1pt solid; text-autospace: none; font-weight: bold; text-align: center">Description</TD>
    <TD STYLE="width: 2%; text-autospace: none; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid; text-autospace: none; font-weight: bold; text-align: center">Reference</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.1</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Form of Subscription Agreement from February 2012 private placement.<SUP>(1)</SUP></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">10.46</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.2</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Description of the NeoStem, Inc. 2012 Board of Directors Compensation Plan<FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">Item 5.02</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.3</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Letter Agreement dated January 6, 2012 between NeoStem, Inc. and Catherine M. Vaczy, Esq.<SUP>(1)</SUP></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">10.92</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.4</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Letter Agreement dated April 11, 2012 between NeoStem, Inc. and Andrew Pecora, M.D., F.A.C.P.<SUP>(3)</SUP></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">10.107</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.5</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Underwriting Agreement, dated March 29, 2012, by and among NeoStem, Inc. and the underwriters
    named on Schedule I thereto.<SUP>(4)</SUP></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">1.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">10.6</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Form of Common Stock Purchase Warrant for the March 29, 2012 Offering.<SUP>(4)</SUP></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">4.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">31.1</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002*</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">31.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">31.2</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
    of 2002*</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">31.2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">32.1</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant
    to Section 906 of the Sarbanes-Oxley Act of 2002**</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">32.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">32.2</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant
    to Section 906 of the Sarbanes-Oxley Act of 2002**</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">32.2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.INS</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Instance Document***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.INS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.SCH</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Taxonomy Extension Schema***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.SCH</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.CAL</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Taxonomy Extension Calculation Linkbase***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.CAL</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.DEF</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Taxonomy Extension Definition Linkbase***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.DEF</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.LAB</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Taxonomy Extension Label Linkbase***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.LAB</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: left; vertical-align: top">101.PRE</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">XBRL Taxonomy Extension Presentation Linkbase***</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; text-align: center">101.PRE</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-autospace: none">*</TD>
    <TD STYLE="width: 98%; text-autospace: none; text-align: justify">Filed herewith.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">**</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Furnished herewith.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">***</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Users of this interactive data file are advised pursuant to Rule 406T
    of Regulations S-T that this interactive data file is deemed not filed or part of a registration statement or prospectus for
    purposes of sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of section 18 of the Securities
    Exchange Act of 1934, and otherwise is not subject to liability under these sections.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">(1)</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Filed with the SEC as an exhibit, numbered as indicated above, to our
    annual report on Form 10-K dated March 20, 2012, which exhibit is incorporated here by reference.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">(2)</TD>
    <TD STYLE="text-autospace: none; text-align: justify">The first paragraph under Item 5.02 of our Current Report on Form 8-K
    dated January 4, 2012, which paragraph contains a description of the NeoStem, Inc. 2012 Directors Compensation Plan, is incorporated
    by reference into this Form 10-Q.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">(3)</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Filed with the SEC as an exhibit, numbered as indicated above, to Amendment
    No. 1 on Form 10-K/A dated April 27, 2012 to our annual report on Form 10-K, which exhibit is incorporated here by reference.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">(4)</TD>
    <TD STYLE="text-autospace: none; text-align: justify">Filed with the SEC as an exhibit, numbered as indicated above, to our
    current report on Form 8-K, dated March 29, 2012, which exhibit is incorporated here by reference.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">NEOSTEM, INC. (Registrant)</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 4%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 35%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 11%; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; text-autospace: none">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-autospace: none">/s/&nbsp;Robin Smith M.D.</TD>
    <TD STYLE="border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">Robin Smith M.D., Chief Executive Officer</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Date: May 11, 2012</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 4%; border-bottom: white 1pt solid; text-autospace: none">By:</TD>
    <TD STYLE="width: 35%; border-bottom: black 1pt solid; text-autospace: none">/s/&nbsp;Larry A. May</TD>
    <TD STYLE="width: 11%; border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">Larry A. May, Chief Financial Officer</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Date: May 11, 2012</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 4%; border-bottom: white 1pt solid; text-autospace: none">By:</TD>
    <TD STYLE="width: 35%; border-bottom: black 1pt solid; text-autospace: none">/s/&nbsp;Joseph Talamo</TD>
    <TD STYLE="width: 11%; border-bottom: white 1pt solid; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">Joseph Talamo, Chief Accounting Officer</TD>
    <TD STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Date: May 11, 2012</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>v311330_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Robin Smith, M.D., certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&nbsp;&nbsp;I have reviewed this Quarterly
Report on Form 10-Q of NeoStem, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&nbsp;&nbsp;The registrant's other certifying
officer 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">a)&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">b) 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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">c) Evaluated the effectiveness
of the registrant'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&nbsp;&nbsp;this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">d) Disclosed in this report
any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most
recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected,
or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.&nbsp;&nbsp;The registrant&rsquo;s other
certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting to the
registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">a)&nbsp;&nbsp;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's ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May 11, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Robin Smith, M.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Robin Smith, M.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: Chief Executive Officer of NeoStem,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A signed original of this written statement required by Section
302 has been provided to NeoStem, Inc. and will be retained by NeoStem, Inc. and furnished to the Securities and Exchange Commission
or its staff upon request.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>v311330_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Larry A. May, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&nbsp;&nbsp;I have reviewed this Quarterly
Report on Form 10-Q of NeoStem, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&nbsp;&nbsp;The registrant's other certifying
officer 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">a)&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">b) 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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">c) Evaluated the effectiveness
of the registrant'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&nbsp;&nbsp;this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: justify">d) Disclosed in this report
any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most
recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected,
or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.&nbsp;&nbsp;The registrant&rsquo;s other
certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting to the
registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">a)&nbsp;&nbsp;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's ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: May 11, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Larry A. May</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Larry A. May</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: Chief Financial Officer of NeoStem,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A signed original of this written statement
required by Section 302 has been provided to NeoStem, Inc. and will be retained by NeoStem, Inc. and furnished to the Securities
and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>v311330_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION 1350,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.9pt 0pt 0; text-align: justify">In connection with the Quarterly
Report of NeoStem, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the period ended March 31, 2012 filed with the Securities
and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Robin Smith, M.D., Chief Executive Officer of the Company,
certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to my knowledge
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none; font-size: 10pt; text-align: right">(1)&nbsp;&nbsp;</TD>
    <TD STYLE="width: 94%; text-autospace: none; font-size: 10pt; text-align: justify">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as amended; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none; font-size: 10pt; text-align: right">(2)&nbsp;&nbsp;</TD>
    <TD STYLE="width: 94%; text-autospace: none; font-size: 10pt; text-align: justify">The information contained in the Report fairly presents, in all material respects, the financial condition of the Company as of the dates presented and the results of operations of the Company for the periods presented.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.9pt 0pt 0; text-align: justify">Dated:&nbsp;&nbsp;May 11, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 50.6pt; text-autospace: none; text-align: justify">/s/ Robin Smith, M.D.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">Robin Smith, M.D.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing certification is being furnished
solely 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) and is not being filed as part of the Form 10-Q or as a separate disclosure document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A signed original of this written statement
required by Section 906 has been provided to NeoStem, Inc. and will be retained by NeoStem, Inc. and furnished to the Securities
and Exchange Commission or its staff upon request.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>v311330_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION 1350,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Quarterly Report
of NeoStem, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the period ended March 31, 2012 filed with the Securities and Exchange
Commission on the date hereof (the &ldquo;Report&rdquo;), I, Larry A. May, Chief Financial Officer of the Company, certify, pursuant
to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to my knowledge that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none; font-size: 10pt; text-align: right">(1)&nbsp;&nbsp;</TD>
    <TD STYLE="width: 94%; text-autospace: none; font-size: 10pt; text-align: justify">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 as amended ; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none; font-size: 10pt; text-align: right">(2)&nbsp;&nbsp;</TD>
    <TD STYLE="width: 94%; text-autospace: none; font-size: 10pt; text-align: justify">The information contained in the Report fairly presents, in all material respects, the financial condition of the Company as of the dates presented and the results of operations of the Company for the periods presented.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated:&nbsp;&nbsp;May 11, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 50.6pt; text-autospace: none; text-align: justify">/s/ Larry A. May</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">Larry A. May</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 50.6pt; text-autospace: none; text-align: justify">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing certification is being furnished
solely 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) and is not being filed as part of the Form 10-Q or as a separate disclosure document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A signed original of this written statement
required by Section 906 has been provided to NeoStem, Inc. and will be retained by NeoStem, Inc. and furnished to the Securities
and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>6
<FILENAME>nbs-20120331.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
<XBRL>
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<!-- EDGAR Online I-Metrix Xcelerate Instance Document, based on XBRL 2.1  http://www.edgar-online.com/ -->
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<!-- Round: c0ffbc21-6f68-4de8-b24d-167e8d19c67f -->
<!-- Creation date: 2012-05-10T22:02:55Z -->
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  <us-gaap:GrossProfit contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_2">5735248</us-gaap:GrossProfit>
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  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_8B070626-53E2-43E9-8AFE-621884C413D6_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 12 &amp;#x2013; Shareholders&amp;#x2019; Equity&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Common Stock&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company raised an aggregate of approximately $2.25 million in a
private placement consummated in February 2012 pursuant to which
three entities acquired an aggregate of 3,465,404 shares of Common
Stock.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In March 2012, the Company completed an underwritten offering of
15,000,000 units at a purchase price of $0.40 per unit, with each
unit consisting of one share of Common Stock and a five year
warrant to purchase one share of Common Stock at an exercise price
of $0.51 per share (the &amp;#x201C;Offering&amp;#x201D;). The Company sold
securities in the Offering under the Company&amp;#x2019;s previously
filed shelf registration statement on Form S-3 (333-173855), which
was declared effective by the Securities and Exchange Commission on
June 13, 2011. The Company received gross proceeds of $6,000,000,
prior to deducting underwriting discounts and offering expenses
payable by the Company, for net proceeds of approximately
$5,297,000. In April 2012, the underwriters in the Offering
exercised their over-allotment option for an additional 2,000,000
units. The Company received additional gross proceeds of $800,000,
prior to deducting underwriting discounts, for net proceeds of
approximately $744,000.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Warrants&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company has issued common stock purchase warrants from time to
time to investors in private placements and public offerings, and
to certain vendors, underwriters, placement agents and consultants
of the Company. A total of 52,695,366 shares of common stock are
reserved for issuance upon exercise of outstanding warrants as of
March 31, 2012 at prices ranging from $0.51 to $7.00 and expiring
through October 2018.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
During the three months ended March 31, 2012 and 2011, the Company
issued warrants for services as follows ($ in thousands, except
share data):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="width: 56%; text-align: left; padding-bottom: 2.5pt"&gt;Number of
Common Stock Purchase Warrants Issued&lt;/td&gt;
&lt;td style="width: 2%; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right"&gt;
125,000&lt;/td&gt;
&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right"&gt;
270,000&lt;/td&gt;
&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Value of Common
Stock Purchase Warrants Issued&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
50.6&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
280.9&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The weighted average estimated fair value of warrants issued for
services in the three months ended March 31, 2012 was $0.41. The
fair value of warrants at the date of grant was estimated using the
Black-Scholes option pricing model. The expected volatility is
based upon historical volatility of the Company&amp;#x2019;s stock. The
expected term is based upon the contractual term of the
warrants.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The range of assumptions used in calculating the fair values of
warrants issued for services during the three months ended March
31, 2012 and 2011 was as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse"&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="3" style="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center"&gt;
Three Months Ended March 31,&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="width: 60%; vertical-align: bottom; text-autospace: none"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
2012&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 2%; vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
2011&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-autospace: none"&gt;
Expected term (in years)&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;5&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;3 to 5&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;Expected
volatility&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
82%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
82% - 86%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" colspan="2" style="vertical-align: bottom; text-autospace: none"&gt;Expected dividend
yield&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;Risk-free interest
rate&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0.88%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
1.29% - 2.24%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Activity related to warrants outstanding was as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Number&amp;#xA0;of&amp;#xA0;Shares&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Exercise&amp;#xA0;Price&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Remaining&amp;#xA0;Contractual&lt;br /&gt;
Term&amp;#xA0;(years)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Aggregate&amp;#xA0;Intrinsic&lt;br /&gt;
Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="width: 24%"&gt;Balance at December 31,
2011&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;37,389,825&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;2.35&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;15,305,541&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;0.52&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Expired&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 1pt"&gt;Cancelled&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Balance at March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
52,695,366&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1.82&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
4.01&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
At March 31, 2012, the outstanding warrants by range of exercise
prices were as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Warrants Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Warrants Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Range of&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Prices&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 0.51 - $&amp;#xA0; 1.45&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;26,388,500&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.90&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10,855,500&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.44&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 1.46 - $&amp;#xA0; 2.10&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,114,176&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.72&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,114,176&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.72&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 2.11 - $&amp;#xA0; 2.53&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,032,512&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2.50&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,032,512&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2.50&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 2.54 - $&amp;#xA0; 5.99&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,929,928&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.73&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,929,928&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.73&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="padding-bottom: 1pt; text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 6.00 - $&amp;#xA0;
7.00&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;2,230,250&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;3.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;6.51&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;1,230,250&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;0.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;6.11&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;52,695,366&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;4.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1.82&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;36,162,366&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;3.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;2.23&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company&amp;#x2019;s results include share-based compensation
expense of approximately $12,500 and $172,800 for the three months
ended March 31, 2012 and 2011, respectively. The total fair value
of shares vested for warrants issued for services during the three
months ended March 31, 2012 was approximately $17,800. As of March
31, 2012, there was approximately $56,700 of total unrecognized
service cost related to unvested warrants of which approximately
$56,700 is related to warrants that vest over a weighted average
life of 1.0 years.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Options&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company&amp;#x2019;s results include share-based compensation
expense of approximately $1,751,200 and $1,130,300 for the three
months ended March 31, 2012 and 2011, respectively. Options vesting
on the accomplishment of business milestones will not be recognized
for compensation purposes until such milestones are deemed probable
of accomplishment. At March 31, 2012 there were options to purchase
404,928 shares outstanding that will vest upon the accomplishment
of business milestones and will be accounted for as an operating
expense when such business milestones are deemed probable of
accomplishment.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The weighted average estimated fair value of stock options granted
in the three months ended March 31, 2012 was $0.36. The fair value
of options at the date of grant was estimated using the
Black-Scholes option pricing model. The expected volatility is
based upon historical volatility of the Company&amp;#x2019;s stock. The
expected term is based upon observation of actual time elapsed
between date of grant and exercise of options for all
employees.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The range of assumptions used in calculating the fair values of
options granted during the three months ended March 31, 2012 and
2011 was as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse"&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" colspan="3" style="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center"&gt;
Three Months Ended March 31,&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="width: 60%; vertical-align: bottom; text-autospace: none"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
2012&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 2%; vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
2011&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" colspan="2" style="text-autospace: none"&gt;
Expected term (in years)&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;3 to 10&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;2 to 6&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;Expected
volatility&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
82% - 83%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
82% - 85%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" colspan="2" style="vertical-align: bottom; text-autospace: none"&gt;Expected dividend
yield&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: White"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;Risk-free interest
rate&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0.02% - 2.00%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
0.80% - 2.53%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
Activity related to stock options outstanding under the U.S. Equity
Plan was as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Number&amp;#xA0;of&amp;#xA0;Shares&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Exercise&amp;#xA0;Price&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Remaining&amp;#xA0;Contractual&lt;br /&gt;
Term&amp;#xA0;(years)&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Aggregate&amp;#xA0;Intrinsic&amp;#xA0;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="width: 24%"&gt;Balance at December 31,
2011&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;15,043,505&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;1.68&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;4,075,452&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;0.53&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Expired&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 1pt"&gt;Cancelled&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(11,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
0.57&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Balance at March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
19,107,957&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1.44&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
7.5&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
At March 31, 2012, the outstanding options under the U.S. Equity
Plan by range of exercise prices were as follows:&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Options Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Options Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Range of&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Prices&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 0.52 - $&amp;#xA0;&amp;#xA0;&amp;#xA0;
0.71&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,188,052&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.56&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,630,990&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.54&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 0.72 - $&amp;#xA0;&amp;#xA0;&amp;#xA0;
1.50&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,879,100&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.46&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,126,232&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.44&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 1.51 - $&amp;#xA0;&amp;#xA0;&amp;#xA0;
1.80&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,629,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.71&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,877,252&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.71&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 1.81 - $&amp;#xA0;&amp;#xA0;&amp;#xA0;
2.00&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,874,255&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.91&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,705,994&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.91&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="padding-bottom: 1pt; text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 2.01 - $&amp;#xA0;
15.00&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;1,537,550&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;6.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;2.29&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;1,430,883&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;6.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;2.30&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;19,107,957&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;7.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1.44&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;11,771,351&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;6.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1.64&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Activity related to stock options outstanding under the Non U.S.
Plan was as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Number&amp;#xA0;of&amp;#xA0;Shares&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Exercise&amp;#xA0;Price&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Weighted&amp;#xA0;Average&lt;br /&gt;
Remaining&amp;#xA0;Contractual&lt;br /&gt;
Term&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Aggregate&amp;#xA0;Intrinsic&amp;#xA0;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td nowrap="nowrap" style="width: 24%"&gt;Balance at December 31,
2011&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;2,100,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;1.95&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;195,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;0.52&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Expired&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 1pt"&gt;Cancelled&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Balance at March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
2,295,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1.83&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
8.12&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
At March 31, 2012, the outstanding options under the Non U.S. Plan
by range of exercise prices were as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Options Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Options Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="color: red"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="color: red"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="color: red"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Range of&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Remaining&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;Weighted Average&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Prices&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Outstanding&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Contractual Life (years)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 0.52 - $&amp;#xA0; 1.42&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;295,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.83&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;145,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.52&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 1.43 - $&amp;#xA0; 1.71&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;600,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.65&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;200,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.65&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 1.72 - $&amp;#xA0; 2.08&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;350,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.74&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;175,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.74&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 2.09&amp;#xA0;&amp;#xA0; $&amp;#xA0; 2.22&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;650,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2.16&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;300,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2.16&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td colspan="2" style="padding-bottom: 1pt; text-align: center"&gt;
&lt;font style="font-size: 8pt"&gt;$&amp;#xA0; 2.23 - $&amp;#xA0;
2.36&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;400,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;8.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;2.36&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;400,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;8.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;2.36&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;2,295,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;8.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1.83&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1,220,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;8.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%"&gt;
&lt;font style="font-size: 8pt"&gt;1.89&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left; width: 1%"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The total fair value of shares vested during the three months ended
March 31, 2012 and 2011 was approximately $1,650,300 and $378,800,
respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
As of March 31, 2012, there was approximately $3,837,800 of total
unrecognized compensation costs related to unvested stock option
awards of which approximately $3,829,400 is related to stock
options that vest over a weighted average life of 1.83 years. The
remaining balance of unrecognized compensation costs of $8,400 is
related to stock options that vest based on the accomplishment of
business milestones which expense begins to be recognized when such
milestones become probable of being achieved.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Restricted Stock&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
During the three months ended March 31, 2012 and 2011, the Company
issued restricted stock for services as follows ($ in thousands,
except share data):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 56%; text-align: left; padding-bottom: 2.5pt"&gt;
Number of Restricted Stock Issued&lt;/td&gt;
&lt;td style="width: 2%; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right"&gt;
189,814&lt;/td&gt;
&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right"&gt;
550,320&lt;/td&gt;
&lt;td style="width: 1%; padding-bottom: 2.5pt; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Value of Restricted Stock
Issued&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
91.2&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
819.3&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The weighted average estimated fair value of restricted stock
issued for services in the three months ended March 31, 2011 was
$0.48. The fair value of the restricted stock was determined using
the Company&amp;#x2019;s closing stock price on the date of issuance.
The vesting terms of restricted stock issuances are generally
within one year. The Company&amp;#x2019;s results include share-based
compensation expense of approximately $663,900 and $691,600 for the
three months ended March 31, 2012 and 2011, respectively. As of
March 31, 2012, there was approximately $88,500 of unrecognized
service cost related to unvested restricted stock.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;i&gt;Shares Remaining Under Equity Plans&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
The number of remaining shares authorized to be issued under the
various equity plans at March 31, 2012 are as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;U.S. Equity
Plan&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Non-U.S.
Plan&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 56%; text-align: left"&gt;Shares Authorized for
Issuance under 2003 Equity Plan&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;2,500,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;-&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Shares Authorized for Issuance under
2009 Equity Plan&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;23,750,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Shares Authorized
for Issuance under Non-U.S. Plan&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
5,700,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;26,250,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;5,700,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Outstanding Options - U.S. Equity
Plan&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(19,107,957&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Exercised Options&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(97,500&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Outstanding Options - Non-U.S.
Plan&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(2,295,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Restricted stock
or equity grants issued under Equity Plans&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(4,092,577&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(885,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Total common
shares remaining to be issued under the Equity Plans&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
2,951,966&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
2,520,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;i&gt;Share-Based Compensation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
The following table summarizes the components of share-based
compensation expense in the Consolidated Statements of Income for
the three months ended March 31, 2012 and 2011 (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 56%"&gt;Cost of revenues&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;83.9&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;12.5&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Research and development&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;161.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;260.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Selling, general,
and administrative&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
2,223.4&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
1,638.8&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
2,468.6&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1,911.4&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_16">141265</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_25">-110071</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:OtherNonoperatingIncomeExpense contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_8">166703</us-gaap:OtherNonoperatingIncomeExpense>
  <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_404357FC-B755-426C-AE02-F1F7A6501CE9_1_6">158005</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_15">4218650</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncomeTaxesPaid contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_42">286100</us-gaap:IncomeTaxesPaid>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_BDCD4014-286F-4113-A21B-042C8C7C511F_5010_1300003">161847</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:Revenues contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_0">22056768</us-gaap:Revenues>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_9A0BC49A-8BCB-4BDB-8673-5D0D8A60956C_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 17 &amp;#x2013; Commitments and Contingencies&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Lease Commitments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company leases office and laboratory facilities and certain
equipment under certain noncancelable operating leases that expire
from time to time through 2017. A summary of future minimum rental
payments required under operating leases that have initial or
remaining terms in excess of one year as of March 31, 2012 are as
follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="border-bottom: Black 1pt solid"&gt;Years ended&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Operating
Leases&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 78%; text-align: left; padding-left: 9pt"&gt;
2012&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;1,056.0&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9pt"&gt;2013&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;974.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-left: 9pt"&gt;2014&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;606.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9pt"&gt;2015&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;560.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-left: 9pt"&gt;2016&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;563.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 1pt; padding-left: 9pt"&gt;Thereafter&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
293.2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Total minimum
lease payments&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
4,053.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Expense incurred under operating leases was approximately $464,000
and $412,600 for the three months ended March 31, 2012 and March
31, 2011, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Contingencies&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Under license agreements with third parties the Company is
typically required to pay maintenance fees, make milestone payments
and/or pay other fees and expenses and pay royalties upon
commercialization of products. The Company also sponsors research
at various academic institutions, which research agreements
generally provide us with an option to license new technology
discovered during the course of the sponsored research.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In connection with the issuance to investors and service providers
of many of the shares of the Company&amp;#x2019;s common stock and
warrants to purchase common stock previously disclosed and
described herein, the Company granted the holders registration
rights providing for the registration of such shares of common
stock and shares of common stock underlying warrants on a
registration statement to be filed with the Securities and Exchange
Commission (&amp;#x201C;SEC&amp;#x201D;) so as to permit the resale of those
shares. Certain of the registration rights agreements provided for
penalties for failure to file or failure to obtain an effective
registration statement. With respect to satisfying its obligations
to the holders of these registration rights, the Company has been
in various situations. The Company had previously filed a
registration statement as required for some of the holders, and in
May 2011 filed a registration statement for all of the holders
(except for holders whose shares of Common Stock were currently
salable under Rule 144 of the Securities Act or who waived certain
rights); such registration statement was declared effective by the
SEC on September 30, 2011. The Company has certain obligations to
maintain the effectiveness of this registration statement. Certain
holders who had outstanding registration rights had previously
waived their registration rights or were subject to lock-up
agreements. No holder has yet asserted any claim against the
Company with respect to a failure to satisfy any registration
obligations. Were someone to assert a claim against the Company for
breach of registration obligations, the Company believes it has
several defenses that would result in relieving it from some or any
liability, although no assurances can be given. The Company also
notes that damage claims may be limited, as (i) most shares of
Common Stock as to which registration rights attached are either
now registered or currently salable under Rule 144 of the
Securities Act or are otherwise currently subject to other
restrictions on sale and (ii) the shares of Common Stock underlying
warrants with registration rights are now registered, and during
much of the relevant periods the warrants with registration rights
generally have been out of the money, were subject to lock-up
agreements and/or the underlying shares of Common Stock were
otherwise subject to restrictions on resale. Accordingly, were
holders to assert claims against the Company based on breach of the
Company&amp;#x2019;s obligation to register, the Company believes that
the Company&amp;#x2019;s maximum exposure would not be material.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;i&gt;Chinese regulatory approvals&lt;/i&gt;&amp;#xA0;&amp;#x2014;&amp;#xA0;The Company
has determined that it did not obtain all Chinese regulatory
approvals (and associated registrations) required to reflect the
legal title of its interest in Erye as being held by the proper
entity within our group which is its current beneficial owner as
that term is used under U.S. law. The Company believes it has now
determined what governmental approvals (and associated
registrations) will need to be issued by the Suzhou Municipal
Bureau of Foreign Investment and Commerce and the Suzhou
Administration for Industry and Commerce to remediate these
deficiencies and the Company has had counsel in China prepare these
filings. The Company&amp;#x2019;s management believes these regulatory
deficiencies can be remediated and should not delay a possible
divestiture of the Company&amp;#x2019;s interests in Erye that is
currently under evaluation. However, the Company requires the
cooperation of the officers of Erye, as to which no assurance can
be given, and we could be compelled to seek to replace those
officers or to commence legal action to obtain the required
consents or otherwise move forward with requisite filings. In
addition, even if the filings are made, no assurance can be given
that any unremediated regulatory deficiencies would not have an
adverse effect on the operating results and liquidity of Erye and
the Company and will not impede or delay efforts to divest the
Company&amp;#x2019;s interest in Erye. In addition, the remediation
process is expected to trigger certain tax liabilities and
penalties, however the ultimate liability will be based on future
discussions with the relevant Chinese authorities. The Company
cannot reasonably assess the exposure as of March 31, 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;i&gt;Xiangbei Welman Pharmaceutical Co., Ltd. v Suzhou Erye
Pharmaceutical Co., Ltd. and Hunan Weichu Pharmacy Co., Ltd.&lt;/i&gt;
involves a patent infringement dispute with respect to a particular
antibiotics complex manufactured by Erye (the "Product"). The
Changsha Intermediate Court ruled initially in Welman&apos;s favor and
Erye appealed that judgment to the Hunan High Court. The Supreme
Court of PRC recently rendered a final ruling that Welman is not
entitled to the disputed patent right, and on January 16, 2012 the
Hunan High Court rejected Welman&apos;s suit against Erye on that
claimed patent infringement. The initial judgment was rendered on
May 13, 2010 in the amount of approximately 5 million RMB
(approximately $778,500), which was fully accrued for previously in
2011 and reversed in the fourth quarter of 2011 based on these
subsequent rulings.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In 2009, Welman brought a copyright infringement lawsuit against
Erye claiming the package inserts with respect to the Product
infringed their copyright. Erye was enjoined from copying and using
the package inserts on the Product and from selling the Product
with the package inserts and Welman was awarded RMB 50,000. Erye
has filed application for a retrial of the previous lawsuit brought
by Welman to the Hunan High Court, which application filing was
accepted by the court, with the court opening date for retrial not
determined yet.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In July 2011, a new copyright infringement lawsuit was brought by
Welman against Erye claiming that Erye was not complying with the
earlier judgment enjoining them from copying and using the package
inserts for the Product. The Changsha Intermediate Court was
applied to for property preservation and issued a civil decision
freezing Erye&apos;s bank deposit of up to RMB 50 million (approximately
US $7.9 million), or to seal up or detain Erye&apos;s other properties
of equal value. As of March 31, 2012, approximately 16,808,000RMB
(approximately $2,657,400) of cash had been frozen in six Erye bank
accounts. Erye has contended that jurisdiction is not proper, and
the case is now in review of the Hunan High Court.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
A similar copyright infringement lawsuit was recently instituted by
Welman against Erye in the Guangzhou Intermediate Court to (i)
enjoin Erye from copying and using the package inserts from the
Product and selling the drugs with the aforesaid package inserts;
and (ii) award Welman economic losses of approximately RMB
2,000,000 (approximately $320,000) against Erye. Now the case was
withdrawn by Welman. Welman made an application for preliminary
injunction to prohibit Erye from copying and using the package
inserts from the Product and selling the drugs with the aforesaid
package inserts and Welman&apos;s application was denied by the Court on
September 6, 2011. Welman subsequently obtained a preliminary
injunction from a lower court Guangzhou Haizhu District Court on
September 14, 2011. But on October 28, 2011, upon the appeal by
Erye, the Haizhu District Court issued a decision withdrawing the
preliminary injunction. Welman again applied for on April 13, 2012
and obtained on April 17, 2012 a preliminary injunction from
another lower court Guangzhou Baiyun District Court. Erye has
applied for court reconsideration on that granted preliminary
injunction, during which period the said preliminary injunction is
still in enforcement.&lt;/p&gt;
&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_D7CF722C-FC79-41F4-B8C4-9AC1B1E35C77_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 14 &amp;#x2013; Segment Information&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company operates in two reportable segments: (i) Cell
Therapy&amp;#xA0;&amp;#x2014;&amp;#xA0;United States; and (ii) Pharmaceutical
Manufacturing&amp;#xA0;&amp;#x2014;China. Effective March 31, 2012, the
Company no longer operated in the Regenerative Medicine &amp;#x2013;
China reportable segment, which is now reported in discontinued
operations (see Note 15). The Company&amp;#x2019;s operating businesses
are organized based on the nature of markets and customers. The
Company&amp;#x2019;s CEO, as chief operating decision maker, evaluates
the results of operations along these reporting segments.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
The Company&amp;#x2019;s financial information broken down by reportable
segment was as follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="font-weight: bold"&gt;Revenues&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="width: 58%; text-align: left; padding-left: 9.35pt"&gt;
Pharmaceutical Manufacturing - China (products)&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;18,284.0&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;18,141.9&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt"&gt;Cell
Therapy - United States (services)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
3,772.8&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
1,449.1&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 9.35pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
22,056.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
19,591.0&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="font-weight: bold; text-align: left"&gt;Income (loss) from
operations&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Pharmaceutical
Manufacturing - China&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;$&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,110.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;$&lt;/td&gt;
&lt;td style="text-align: right"&gt;2,119.5&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Cell Therapy -
United States&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(3,065.6&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(3,776.0&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt"&gt;
Corporate office&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(4,476.8&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(5,419.1&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 9.35pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(6,431.5&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(7,075.6&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;Total
assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;December 31,
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 58%; text-align: left; padding-left: 9.35pt"&gt;
Pharmaceutical Manufacturing - China&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;116,405.5&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;106,284.8&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Cell Therapy -
United States&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;41,347.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;40,653.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Corporate
office&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;9,531.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;6,596.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt"&gt;
Assets related to discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
1,793.5&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 9.35pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
167,284.3&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
155,327.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;font style="color: black"&gt;The Cell Therapy &amp;#x2013; United States
revenues include approximately $&lt;/font&gt;1,106,900 &lt;font style="color: black"&gt;and $&lt;/font&gt;489,300 &lt;font style="color: black"&gt;for
stem cell related services reimbursed expenses for the three months
ended March 31, 2012 and 2011, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Concentration of Risks&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
For the three months ended March 31, 2012, three major suppliers
provided approximately 38.6% of Erye&amp;#x2019;s purchases of raw
materials with each supplier individually accounting for
approximately 14.3%, 12.6% and 11.7%, respectively. As of March 31,
2012, the total accounts payable to the three major suppliers
represented 37.7% of the total accounts payable balance.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Approximately 85% of Erye&amp;#x2019;s revenues are derived from
products that use penicillin or cephalosporin as the key active
ingredient. These products are manufactured on two of the eight
production lines in Erye&amp;#x2019;s manufacturing facility. Any issues
or incidents that might disrupt the manufacturing of products
requiring penicillin or cephalosporin could have a material impact
on the operating results of Erye. Any interruption or cessation in
production could impact market sales.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In March 2011, the National Development and Reform Commission in
China issued insurance reimbursement price cuts which impacted two
of Erye products. The Company recognizes that there will be
continuous pressure on Erye product pricing as a result of such
actions.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Statutory Reserves&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Pursuant to laws applicable to entities incorporated in the PRC,
the PRC subsidiaries are prohibited from distributing their
statutory capital and are required to appropriate from PRC GAAP
profit after tax to other non-distributable reserve funds. These
reserve funds include one or more of the following: (i) a general
reserve, (ii) an enterprise expansion fund and (iii) a staff bonus
and welfare fund. Subject to certain cumulative limits (i.e., 50%
of the registered capital of the relevant company), the general
reserve fund requires annual appropriation at 10% of after tax
profit (as determined under accounting principles generally
accepted in the PRC at each year-end); the appropriation to the
other funds are at the discretion of the subsidiaries.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The general reserve is used to offset extraordinary losses. Subject
to approval by the relevant authorities, a subsidiary may, upon a
resolution passed by the shareholders, convert the general reserve
into registered capital provided that the remaining general reserve
after the conversion shall be at least 25% of the registered
capital of the subsidiary before the capital increase as a result
of the conversion. The staff welfare and bonus reserve is used for
the collective welfare of the employees of the subsidiary. The
enterprise expansion reserve is for the expansion of the
subsidiary&amp;#x2019;s operations and can also be converted to
registered capital upon a resolution passed by the shareholders
subject to approval by the relevant authorities. These reserves
represent appropriations of the retained earnings determined in
accordance with Chinese law, and are not distributable as cash
dividends to the parent company, NeoStem. Statutory reserves are
$2,478,000 and $2,488,000 as of March 31, 2012 and December 31,
2011, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Relevant PRC statutory laws and regulations permit payment of
dividends by the Company&amp;#x2019;s PRC subsidiaries only out of their
accumulated earnings, if any, as determined in accordance with PRC
accounting standards and regulations. As a result of these PRC laws
and regulations, the Company&amp;#x2019;s PRC subsidiaries are
restricted in their ability to transfer a portion of their net
assets either in the form of dividends, loans or advances. The
restricted amount was $186,000 at March 31, 2012 and $185,000 at
December 31, 2011.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <us-gaap:IncomeLossFromContinuingOperations contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_13">-7483150</us-gaap:IncomeLossFromContinuingOperations>
  <us-gaap:RepaymentsOfSecuredDebt contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_28">52988</us-gaap:RepaymentsOfSecuredDebt>
  <us-gaap:PreferredStockTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_DF415E7B-3A39-4FAF-9FA3-D47E7C968107_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 11 &amp;#x2013; Preferred Stock&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Convertible Redeemable Series E 7% Preferred
Stock&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
On November 19, 2010, the Company sold 10,582,011 Preferred
Offering Units consisting of (i) one share (&amp;#x201C;Preferred
Share&amp;#x201D;) of Series E 7% Senior Convertible Preferred Stock,
par value $0.01 per share, of the Company, (ii) a warrant to
purchase 0.25 of a share of Common Stock (consisting of at issuance
an aggregate of 1,322,486 warrants, adjusted to an aggregate of
1,633,466 as of March 31, 2012); and (iii) 0.0155 of a share of
Common Stock (an aggregate of 164,418 shares). Each Preferred
Offering Unit was priced at $0.945 and total gross and net proceeds
received by the Company were $10,000,000 and $8,876,700,
respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Dividends on the Preferred Shares accrue at a rate of 7% per annum
and are payable monthly in arrears. The Company is required to
redeem 1/27 of the Preferred Shares monthly. Monthly dividend and
principal payments began on March 21, 2011 and continue on the 19th
of each month thereafter with the final payment due on May 20,
2013. Payments can be made in cash or, upon notification to the
holders, in shares of Company common stock, provided certain
conditions are satisfied or holders of Preferred Shares agree to
waive the conditions for that payment period. As of March 31, 2012,
the Company had issued 6,388,885 shares of Company common stock in
payment of monthly dividends and principal, including required
advanced payments.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company may pre-pay the outstanding balance of the Preferred
Shares in full or in part (in increments of no less than
$1,000,000) at 110% of the then outstanding balance with notice of
not less than thirty days and adequate opportunity to convert. If
the Company chooses to pre-pay, the outstanding balance must be
paid in cash and the premium may be paid in cash or shares of
Company common stock. An aggregate of $2,500,000 of the proceeds
from the Preferred Offering was placed in escrow for a maximum of
2.5 years as security for the Company&amp;#x2019;s obligations relative
to the Preferred Shares, and is included in other assets.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Upon issuance, the Preferred Shares were convertible at an initial
conversion price of $2.0004. The conversion price is subject to
certain weighted average adjustments upon the occurrence of
specific events, including stock dividends, stock splits,
combinations and reclassifications of the Company&amp;#x2019;s common
stock and if (with certain exceptions) the Company issues or sells
any additional shares of common stock or common stock equivalents
at a price per share less than the conversion price then in effect,
or without consideration. As of March 31, 2012, the conversion
price had been adjusted to $1.36.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The characteristics of the Series E Preferred Stock require that
this instrument be treated as mezzanine equity. The Company
bifurcated the fair value of the embedded conversion options and
redemption options from the preferred stock since the conversion
options and certain redemption options were determined to not be
clearly and closely related to the Series E Preferred Stock and
recorded the fair value of the embedded conversion and redemption
options as long-term derivative liabilities. The Company also
recorded the fair value of the warrants as a long-term derivative
liability. The fair value of the preferred stock (net of issuance
costs and discounts), the embedded derivatives, and warrant
derivative were approximately $4,182,500, $315,300 and $71,900,
respectively, as of March 31, 2012. The Company will report changes
in the fair value of the embedded derivatives and warrant
derivative in earnings within other income (expense), net. For the
three months ended March 31, 2012, the Company recorded a decrease
in the fair value of the embedded derivatives of approximately
$76,500 and a decrease in the warrant derivative of approximately
$10,800.&lt;/p&gt;
&lt;/div&gt;</us-gaap:PreferredStockTextBlock>
  <us-gaap:DebtDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_2CD7D43C-949E-419E-ADCC-FBD8E01C6C18_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 10 &amp;#x2013; Debt&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Bank Loans&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In June 2011, Erye obtained a bank loan of approximately $1,571,200
from the Agricultural Bank of China according to People&amp;#x2019;s
Bank benchmark interest rates and is due in June 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In October 2011, Erye obtained a bank loan of approximately
$8,641,600 from the CITIC Bank International according to
People&amp;#x2019;s Bank benchmark interest rates with additional rate
up to 10% and is due in October 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In October 2011, Erye obtained a bank loan of approximately
$1,571,200 from the China Merchants Bank according to
People&amp;#x2019;s Bank benchmark interest rates with additional rate
up to 10% and is due in July 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In November 2011, Erye obtained a bank loan of approximately
$3,928,000 from Commercial Bank of China according to
People&amp;#x2019;s Bank benchmark interest rates and is due in November
2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Notes Payable&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;font style="color: black"&gt;As of March 31, 2012 and December 31,
2011, the Company had notes payable of approximately
$&lt;/font&gt;305,200&lt;font style="color: black"&gt;and
$&lt;/font&gt;148,100&lt;font style="color: black"&gt;, respectively. The notes
relate to certain insurance policies and equipment financings,
require monthly payments, and mature within one to five
years.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Mortgages Payable&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;font style="color: black"&gt;On October 31, 2007, PCT issued a note
to borrow $3,120,000 (the &amp;#x201C;Note&amp;#x201D;) in connection with
its $3,818,500 purchase of condominium units in an existing
building in Allendale, New Jersey (the &amp;#x201C;Property&amp;#x201D;) that
PCT uses as a laboratory and stem cell processing facility. The
Note is payable in 239 consecutive monthly payments of principal
and interest, based on a 20 year amortization schedule; and one
final payment of all outstanding principal plus accrued interest
then due. The current monthly installment is $20,766, which
includes interest at an initial rate of 5.00%; the interest rate
and monthly installments payments are subject to adjustment on
October 1, 2017. On that date, upon prior written notice, the
lender has the option to declare the entire outstanding principal
balance, together with all outstanding interest, due and payable in
full. The Note is secured by substantially all of the assets of
PCT, including a first mortgage on the Property and assignment of
an amount approximately equal to eighteen months debt service held
in escrow. The Note matures on October 1, 2027 if not called by the
lender on October 1, 2017. The note is subject to certain debt
service coverage and total debt to tangible net worth financial
covenant ratios measured semi-annually. PCT was not in compliance
with such covenants at the measurement date of December 31, 2011,
and obtained a covenant waiver letter from the lender for all
periods through December 31, 2011. The outstanding balance was
approximately $&lt;/font&gt;2,680,100 &lt;font style="color: black"&gt;at March
31, 2012 of which $&lt;/font&gt;116,000 &lt;font style="color: black"&gt;is
payable within twelve months. On December 6, 2010 PCT Allendale, a
wholly-owned subsidiary of PCT, entered into a note for a second
mortgage in the amount of $1 million on the Allendale Property with
TD Bank, N.A. This loan is guaranteed by PCT, DomaniCell (a
wholly-owned subsidiary of PCT, now known as NeoStem Family
Storage, LLC), Northern New Jersey Cancer Associates
(&amp;#x201C;NNJCA&amp;#x201D;) and certain partners of NNJCA and is subject
to a financial covenant starting December 31, 2011. PCT was not in
compliance with such covenants at the measurement date of December
31, 2011, and obtained a covenant waiver letter from the lender for
all periods through December 31, 2011. The loan is for 124 months
at a fixed rate of 6% for the first 64 months. The loan is callable
for a certain period prior to the interest reset date. The initial
four months was interest only. The outstanding balance as of March
31, 2012 is $&lt;/font&gt;901,900 &lt;font style="color: black"&gt;of which
$&lt;/font&gt;77,700 &lt;font style="color: black"&gt;is payable within twelve
months. Both mortgages are classified as current liabilities as of
March 31, 2012.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_20">2106405</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_404357FC-B755-426C-AE02-F1F7A6501CE9_1_7">-9203025</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:PreferredStockDividendsIncomeStatementImpact contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="INF" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_18">107844</us-gaap:PreferredStockDividendsIncomeStatementImpact>
  <us-gaap:ProceedsFromIssuanceOrSaleOfEquity contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_27">7691059</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
  <us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_3">2476666</us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims>
  <us-gaap:EarningsPerShareTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_85623497-C895-456D-A0E7-023E513305D1_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 6 &amp;#x2013; Loss Per Share&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Basic loss per share is based on the weighted effect of all common
shares issued and outstanding, and is calculated by dividing net
loss attributable to common shareholders by the weighted average
shares outstanding during the period. Diluted loss per share, which
is calculated by dividing net loss attributable to common
shareholders by the weighted average number of common shares used
in the basic loss per share calculation plus the number of common
shares that would be issued assuming conversion of all potentially
dilutive securities outstanding, is not presented as such
potentially dilutive securities are anti-dilutive in all periods
presented. For the three months ended March 31, 2012 and 2011, the
Company incurred net losses and therefore no common stock
equivalents were utilized in the calculation of loss per share. At
March 31, 2012 and 2011, the Company excluded the following
potentially dilutive securities:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 66%; text-align: left"&gt;Stock Options&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;21,402,957&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;15,080,095&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Warrants&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;52,695,366&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;25,129,066&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Series E Preferred Stock, Common stock
equivalents&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;4,034,536&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;5,149,889&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Restricted Shares&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;401,167&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;186,666&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_11">-7360889</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_404357FC-B755-426C-AE02-F1F7A6501CE9_1_4">161848</us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:InterestExpense contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_9">1096133</us-gaap:InterestExpense>
  <us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_12">-325905</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD_per_shares" decimals="2" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_22">-0.02</us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare>
  <us-gaap:SubsequentEventsTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_490F1CB3-A651-4680-AC5F-1535D8FA829A_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;u&gt;Note 18 &amp;#x2013; Subsequent Events&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 13.5pt; MARGIN: 0pt 0px 0pt 4.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
On April 4, 2012, the underwriter from the March 29, 2012 public
offering (previously disclosed in our Form 8-K filed on March 29,
2012) of 15,000,000 units exercised its over-allotment option for
an additional 2,000,000 units (previously disclosed in our Form 8-K
filed on April 5, 2012). Each unit consists of one share of common
stock and a warrant to purchase one share of common stock with a
per share exercise price of $0.51. Additionally in April 2012, the
warrants issued in connection with the offering initially
exercisable beginning on September 30, 2012, were accelerated and
are now exercisable immediately. The Company received additional
gross proceeds of $800,000, prior to deducting underwriting
discounts, for net proceeds of approximately $744,000.&lt;/p&gt;
&lt;p style="TEXT-INDENT: 13.5pt; MARGIN: 0pt 0px 0pt 4.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 13.5pt; MARGIN: 0pt 0px 0pt 4.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
On April 26, 2012 (the &amp;#x201C;Effective Date&amp;#x201D;), the
Compensation Committee of the Board of Directors adopted a program
(the &amp;#x201C;2012 Option Program&amp;#x201D;) whereby each participating
officer was issued on April 26, 2012 an option (the
&amp;#x201C;Option&amp;#x201D;) to purchase that number of shares of Common
Stock equal to that portion of the participating officer&amp;#x2019;s
gross salary (the &amp;#x201C;Participating Salary&amp;#x201D;) for the
period May 1, 2012 &amp;#x2013; July 31, 2012 (the &amp;#x201C;Election
Period&amp;#x201D;) elected by the participating officer divided by
$0.25, the Black-Scholes value of an Option issued under the 2012
Option Program. The Option, the issuance of which is in lieu of
payment of the Participating Salary, vests at the end of the month
in which the Participating Salary to which it relates would have
been paid and has a term of ten years despite any termination of
employment of the participating officer. The per share exercise
price is $0.36, the closing price of the Common Stock on the date
of issuance of the Options. The gross Participating Salary for all
participating officers is $181,309 and the total number of Options
granted under the 2012 Option Program was 725,235.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:CashAndCashEquivalentsDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_402D51A9-5331-4075-B91F-5840F99A6C30_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 4 &amp;#x2013; Cash and Cash Equivalents&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;font style="color: black"&gt;Cash and cash equivalents include
short-term, highly liquid, investments with maturities of ninety
days or less when purchased. As of March 31, 2012, and December 31,
2011, the Company had approximately $764,700 and $791,100,
respectively in bank deposits covered by the Federal Deposit
Insurance Corporation. As of March 31, 2012 and December 31, 2011,
cash and short-term investments held by Erye, our 51%-owned foreign
subsidiary, that are not available to fund domestic operations
unless repatriated were $&lt;/font&gt;14,766,600 &lt;font style="color: black"&gt;and $8,707,500, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:CashAndCashEquivalentsDisclosureTextBlock>
  <us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD_per_shares" decimals="2" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_21">-0.07</us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
  <us-gaap:NetIncomeLoss contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_17">-9348133</us-gaap:NetIncomeLoss>
  <us-gaap:ProceedsFromNotesPayable contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_30">223433</us-gaap:ProceedsFromNotesPayable>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_10">-929430</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_3">2714507</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_D889C2CF-51F4-4DDD-850C-F8D5A10D6901_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 2 &amp;#x2013; Summary of Significant Accounting
Policies&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In addition to the policies below, our significant accounting
policies are described in Note 2 of the Notes to Consolidated
Financial Statements included in our Annual Report on Form 10-K for
the year ended December 31, 2011. There were no changes during the
three months ended March 31, 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;i&gt;Accounts Receivable&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Accounts receivable are carried at original invoice amount less an
estimate made for doubtful accounts. The Company applies judgment
in connection with establishing the allowance for doubtful
accounts. Specifically, the Company analyzes the aging of accounts
receivable balances, historical bad debts, customer concentration
and credit-worthiness, current economic trends and changes in the
Company&amp;#x2019;s customer payment terms. Significant changes in
customer concentrations or payment terms, deterioration of customer
credit-worthiness or weakening economic trends could have a
significant impact on the collectability of the receivables and the
Company&amp;#x2019;s operating results. If the financial condition of
the Company&amp;#x2019;s customers were to deteriorate, resulting in an
impairment of their ability to make payments, additional allowances
may be required. Management regularly reviews the aging of
receivables and changes in payment trends by its customers, and
records a reserve when it believes collection of amounts due are at
risk.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;i&gt;Revenue Recognition&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;i&gt;Prescription drugs and intermediary pharmaceutical products:&lt;/i&gt;
The Company recognizes revenue from pharmaceutical and
pharmaceutical intermediary products sales when title has passed,
the risks and rewards of ownership have been transferred to the
customer, the fee is fixed and determinable, and the collection of
the related receivable is reasonably assured which is generally at
the time of delivery.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;i&gt;Stem cell related service revenues:&lt;/i&gt; The Company recognizes
revenue for its cell development and manufacturing services based
on the terms of individual contracts. Cell development services
generally contain multiple stages, which the Company evaluates for
multiple elements. Each stage does not have stand-alone value and
are dependent upon one another; therefore the Company recognizes
revenue on a completed contract basis. Manufacturing services
represent separate and distinct arrangements, and the Company is
paid for time and materials or for fixed monthly amounts and
revenue is recognized when efforts are expended or contractual
terms have been met. The Company separately charges the customers
for reimbursable expenses that are specified in each contract. On a
monthly basis, the Company bills customers for reimbursable
expenses and immediately recognizes reimbursement revenue, as the
revenue is deemed earned as reimbursable expenses are incurred.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company recognizes revenue related to the collection and
cryopreservation of cord blood and autologous adult stem cells when
the cryopreservation process is completed which is approximately
twenty four hours after cells have been collected. Revenue related
to advance payments of storage fees is recognized ratably over the
period covered by the advance payments.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:PaymentsForRepurchaseOfPreferredStockAndPreferenceStock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_33">575000</us-gaap:PaymentsForRepurchaseOfPreferredStockAndPreferenceStock>
  <us-gaap:CostOfRevenue contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_1">16321520</us-gaap:CostOfRevenue>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_19">-9455977</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_BDCD4014-286F-4113-A21B-042C8C7C511F_5010_1300005">7691059</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_24">110071</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:NatureOfOperations contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_A547A91B-DC45-44FE-A1E5-D3442F3D5E4B_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 1&amp;#xA0;&amp;#xA0;&amp;#x2013; The Business&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Overview&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
NeoStem, Inc. (&amp;#x201C;NeoStem&amp;#x201D; or the &amp;#x201C;Company&amp;#x201D;)
was incorporated under the laws of the State of Delaware in
September 1980 under the name Fidelity Medical Services, Inc. The
Company&amp;#x2019;s corporate headquarters are located at 420 Lexington
Avenue, Suite 450, New York, NY 10170. The Company&amp;#x2019;s
telephone number is (212) 584-4180 and its website address is
&lt;i&gt;www.neostem.com&lt;/i&gt;.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
NeoStem, Inc. is an international biopharmaceutical company. In
2011, we operated our business in three reportable segments: (i)
Cell Therapy&amp;#xA0;&amp;#x2014;&amp;#xA0;United States; (ii) Regenerative
Medicine&amp;#xA0;&amp;#x2014;&amp;#xA0;China; and (iii) Pharmaceutical
Manufacturing&amp;#xA0;&amp;#x2014;&amp;#xA0;China. Effective March 31, 2012, we
committed to discontinue operations in the Regenerative Medicine
&amp;#x2013; China reportable segment, which is now reported in
discontinued operation (see Note 15). We also continue to pursue
the divestiture of the Pharmaceutical Manufacturing - China segment
and anticipate it will have been exited by the close of 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Basis of Presentation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The accompanying unaudited Consolidated Financial Statements have
been prepared in accordance with accounting principles generally
accepted in the United States of America (&amp;#x201C;generally accepted
accounting principles&amp;#x201D;) for interim financial information and
with the instructions to Form 10-Q and Article 8 of Regulation S-X
of the Securities and Exchange Commission for interim financial
information. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of
management, the accompanying Consolidated Financial Statements of
the Company and its subsidiaries, which are unaudited, include all
normal and recurring adjustments considered necessary to present
fairly the Company&amp;#x2019;s financial position as of March 31, 2012
and the results of its operations and its cash flows for the
periods presented. The unaudited consolidated financial statements
herein should be read together with the historical consolidated
financial statements of the Company for the years ended December
31, 2011 and 2010 included in our Annual Report on Form 10-K for
the year ended December 31, 2011. Operating results for the three
month period ended March 31, 2012 are not necessarily indicative of
the results that may be expected for the year ending December 31,
2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Use of Estimates&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The preparation of financial statements in conformity with
generally accepted accounting principles in the United States of
America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the
consolidated financial statements. Estimates also affect the
reported amounts of revenues and expenses during the reporting
period. Accordingly, actual results could differ from those
estimates.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Principles of Consolidation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
The consolidated financial statements include the accounts of
NeoStem, Inc. and its wholly owned and partially owned subsidiaries
and affiliates as listed below:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse"&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="width: 42%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
Entity&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 1%; vertical-align: bottom; text-autospace: none"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 32%; vertical-align: top; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
Percentage of Ownership&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 1%; vertical-align: bottom; text-autospace: none"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center"&gt;
Location&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;NeoStem, Inc.&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;Parent&amp;#xA0;
Company&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;NeoStem Therapies,
Inc.&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100%&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;Stem Cell
Technologies, Inc.&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100%&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;Amorcyte, LLC&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100%&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;CBH Acquisition
LLC&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center"&gt;
100%&lt;/td&gt;
&lt;td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;China
Biopharmaceuticals Holdings, Inc. (CBH)&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100% owned by CBH
Acquisition LLC&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;Suzhou Erye
Pharmaceuticals Company Ltd.&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;51% owned by CBH&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;People&amp;#x2019;s
Republic of China&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;Progenitor Cell
Therapy, LLC (PCT)&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100%&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;NeoStem Family
Storage, LLC&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100% owned by PCT&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;Athelos
Corporation&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;80.1% owned by PCT&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;PCT Allendale,
LLC&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none; text-align: center"&gt;100% owned by PCT&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-autospace: none"&gt;United States of
America&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Pursuant to the Joint Venture Agreement that governs the ownership
and management of Erye, through 2012: (i) 49% of undistributed
profits (after tax) will be distributed to Suzhou Erye Economy and
Trading Co Ltd. (&amp;#x201C;EET&amp;#x201D;), the owner of the remaining 49%
interest in Erye and loaned back to Erye for use in connection with
its construction of the new Erye facility (to be repaid gradually
after construction is completed); (ii) 45% of the net profit after
tax due to the Company will be provided to Erye as part of the new
facility construction fund, which will be characterized as paid-in
capital for our 51% interest in Erye; and (iii) only 6% of the net
profit will be distributed to us directly for our operating
expenses. The Company is pursuing the divestiture of Erye.&lt;/p&gt;
&lt;/div&gt;</us-gaap:NatureOfOperations>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_404357FC-B755-426C-AE02-F1F7A6501CE9_1_3">331841</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_4">2170111</us-gaap:DepreciationAndAmortization>
  <us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_1294C4ED-B00F-48B6-A4EC-C312107592AF_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 8&amp;#xA0;&amp;#x2013;&amp;#xA0;Goodwill and Other Intangible
Assets&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The changes in the carrying amount of goodwill, by reportable
segment during 2012 were as follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Cell Therapy
-&lt;br /&gt;
United States&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;
Pharmaceutical&lt;br /&gt;
Manufacturing -&lt;br /&gt;
China&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 49%"&gt;Balance as of December 31, 2011&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;11,117.8&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;8,495.7&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;19,613.5&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Foreign currency
exchange rate changes&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
53.0&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
53.0&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Balance as of March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
11,117.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
8,548.7&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
19,666.5&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
As of March 31, 2012 and December 31, 2011, the Company&amp;#x2019;s
intangible assets and related accumulated amortization consisted of
the following (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="11" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;March 31, 2012&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December 31, 2011&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; padding-left: 0pt"&gt;
&lt;font style="font-size: 8pt"&gt;Useful Life&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Accumulated&lt;br /&gt;
Amortization&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Net&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Gross&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Accumulated&lt;br /&gt;
Amortization&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Net&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 21%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Customer list&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 12%; text-align: center; padding-left: 0pt"&gt;
&lt;font style="font-size: 8pt"&gt;10 Years&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;19,488.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4,588.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,900.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;19,373.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4,076.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15,297.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Manufacturing technology&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;10 Years&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,810.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,595.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7,214.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,779.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,368.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7,411.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;Tradename&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;10 Years&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,825.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(343.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,481.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,819.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(296.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,522.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;In
process R&amp;amp;D&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Indefinite&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,201.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,201.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,190.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,190.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Standard
operating procedures&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;10 Years&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,111.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(268.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;843.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,104.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(239.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;865.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;VSEL
patent rights&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-left: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;19 Years&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;669.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(149.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;519.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;669.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(140.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;528.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Patents&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; padding-left: 0pt"&gt;
&lt;font style="font-size: 8pt"&gt;8 Years&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;205.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;(92.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;113.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;204.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;(86.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;117.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Intangible Assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 0pt"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;43,312.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;(7,038.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;36,273.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;43,141.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;(6,208.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
&lt;font style="font-size: 8pt"&gt;36,932.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
Total intangible amortization expense was classified in the
operating expense categories for the periods included below as
follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 66%"&gt;Cost of revenue&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;248.1&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;341.0&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Research and development&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;13.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;13.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Selling, general
and administrative&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
533.2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
521.7&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
795.2&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
876.4&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_6">-6431459</us-gaap:OperatingIncomeLoss>
  <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_404357FC-B755-426C-AE02-F1F7A6501CE9_1_5">-9045020</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
  <us-gaap:InventoryDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_08ED3D18-6EB8-4251-9B71-74D31070358B_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 5 &amp;#x2013; Inventories&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Inventories consisted of the following (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,
2012&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;December 31,
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 60%; text-align: left"&gt;Raw materials and
supplies&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;6,864.9&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 16%; text-align: right"&gt;2,974.8&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Work in process&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;5,037.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;5,086.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Finished
goods&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
6,079.5&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
9,092.2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Total
inventory&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
17,982.3&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
17,153.4&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:InterestPaidCapitalized contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="INF" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_45">55400</us-gaap:InterestPaidCapitalized>
  <us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_17B61EC3-5F67-4D21-BF34-F3C7C4E1F2A3_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 15 &amp;#x2013; Discontinued Operations&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
In 2009, the Company began its Regenerative Medicine-China business
in the People&amp;#x2019;s Republic of China (&amp;#x201C;China&amp;#x201D; or
&amp;#x201C;PRC&amp;#x201D;) through its subsidiary, a wholly foreign owned
entity (&amp;#x201C;WFOE&amp;#x201D;) and entered into contractual
arrangements with certain variable interest entities
(&amp;#x201C;VIEs&amp;#x201D;). Foreign companies have commonly used VIE
structures to operate in the PRC, and while such structures are not
uncommon, recently they have drawn greater scrutiny from the local
Chinese business community in the PRC who have urged the PRC State
Council to clamp down on these structures. In addition, in December
2011, China&amp;#x2019;s Ministry of Health announced its intention to
more tightly regulate stem cell clinical trials and stem cell
therapeutic treatments in the PRC, which has created uncertainty
regarding the ultimate regulatory environment in the PRC.
Accordingly, the Company has been taking steps to restrict, with
the expectation of ultimately eliminating, its regenerative
medicine business in the PRC. The Company has concluded that as a
result of these steps, to discontinue operations in its
Regenerative Medicine-China business. The Company has determined
that any liability arising from the activities of the WFOE and the
VIEs will likely be limited to the net assets currently held by
each entity. As of March 31, 2012, the Company recognized the
following loss on exit of the Regenerative Medicine-China business
(in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 76%"&gt;Cash&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 20%; text-align: right"&gt;195.1&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Prepaid expenses and other current
assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;14.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Property, plant and equipment,
net&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,023.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Other Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;330.5&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(177.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Accrued liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(79.2&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Accumulated
comprehensive income&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(169.9&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Loss on exit of
segment&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1,138.0&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The operations and cash flows of the Regenerative Medicine - China
business will be eliminated from ongoing operations as a result of
our exit decision. The Company expects to have no continuing
involvement in this business going forward. &lt;font style="color: black"&gt;The operating results of the Regenerative Medicine
&amp;#x2013; China business for the three months ended March 31, 2012
and 2011, which are included in discontinued operations, were as
follows (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;Three Months
Ended March 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 56%"&gt;Revenue&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;52.3&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;50.2&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Cost of revenues&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(30.6&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(18.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Research and development&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(103.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(158.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Selling, general, and
administrative&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(497.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(790.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Other income (expense)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(6.8&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(12.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Loss on exit of
segment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(1,138.0&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
-&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Loss from
discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(1,723.7&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(928.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The summary of the assets and liabilities related to discontinued
operations as of December 31, 2011 was as follows (in
thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;December 31,
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="width: 78%; text-align: left; padding-left: 9.35pt"&gt;Cash
and cash equivalents&lt;/td&gt;
&lt;td style="width: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 18%; text-align: right"&gt;103.3&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Prepaid expenses
and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;284.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Property, plant
and equipment, net&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,256.8&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt"&gt;Other
Assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
149.0&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 9.35pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
1,793.5&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="font-weight: bold"&gt;Liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-left: 9.35pt"&gt;Accounts
payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;$&lt;/td&gt;
&lt;td style="text-align: right"&gt;177.8&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt"&gt;
Accrued liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
31.0&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 2.5pt; padding-left: 9.35pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
208.8&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
  <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_4">9452200</us-gaap:SellingGeneralAndAdministrativeExpense>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_12">122261</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_36">9129242</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_14">614672</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_35">-52590</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_CECB1FA5-9BA7-4738-833E-3A6ACD028516_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 7 &amp;#x2013; Fair Value Measurements&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Fair value of financial assets and liabilities that are being
measured and reported are defined as the exchange price that would
be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants in the principal
market at the measurement date (exit price). The Company is
required to classify fair value measurements in one of the
following categories:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Level 1 inputs which are defined as quoted prices (unadjusted) in
active markets for identical assets or liabilities that the
reporting entity has the ability to access at the measurement
date.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Level 2 inputs which are defined as inputs other than quoted prices
included within Level 1 that are observable for the assets or
liabilities, either directly or indirectly.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Level 3 inputs are defined as unobservable inputs for the assets or
liabilities. Financial assets and liabilities are classified based
on the lowest level of input that is significant to the fair value
measurement. The Company&amp;#x2019;s assessment of the significance of
a particular input to the fair value measurement requires judgment,
and may affect the valuation of the fair value of assets and
liabilities and their placement within the fair value hierarchy
levels.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company determined the fair value of funds invested in short
term investments, which are considered trading securities, to be
level 1 inputs measured by quoted prices of the securities in
active markets. The short term investments are included within
prepaids and other current assets on the balance sheet. The Company
determined the fair value of funds invested in money market funds
to be level 1. The Company determined the fair value of the
embedded derivative liabilities and warrant derivative liabilities
to be level 3 inputs. These inputs require material subjectivity
because value is derived through the use of a lattice model that
values the derivatives based on probability weighted discounted
cash flows. The following table sets forth by level within the fair
value hierarchy the Company&amp;#x2019;s financial assets and
liabilities that were accounted for at fair value on a recurring
basis as of March 31, 2012, and December 31, 2011 (in
thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Fair Value
Measurements Using Fair Value Hierarchy&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 49%; text-align: left"&gt;Money market
investments&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;2,497.6&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;-&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;-&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Short term investments&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;0.6&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Embedded derivative liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;315.3&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Warrant derivative liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;71.9&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Contingent consideration&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;3,130.0&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;December 31,
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;Fair Value
Measurements Using Fair Value Hierarchy&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 49%; text-align: left"&gt;Money market
investments&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;2,497.4&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;-&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;-&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Short term investments&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;0.6&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Embedded derivative liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;391.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Warrant derivative liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;82.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Contingent consideration&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;3,130.0&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The fair value measurement of the contingent consideration
obligations is determined using Level 3 inputs. The fair value of
contingent consideration obligations is based on a discounted cash
flow model using a probability-weighted income approach. The
measurement is based upon unobservable inputs supported by little
or no market activity based on our own assumptions and experience.
The value of our contingent consideration is valued using a
discount rate of 30%. We base the timing to complete the
development and approval of this product on the current development
stage of the product and the inherent difficulties and
uncertainties in developing a product candidate, such as obtaining
U.S. Food and Drug Administration (FDA) and other regulatory
approvals. In determining the probability of regulatory approval
and commercial success, we utilize data regarding similar milestone
events from several sources, including industry studies and our own
experience. These fair value measurements represent Level 3
measurements as they are based on significant inputs not observable
in the market. Significant judgment is employed in determining the
appropriateness of these assumptions as of the acquisition date and
for each subsequent period. Accordingly, changes in assumptions
could have a material impact on the amount of contingent
consideration expense we record in any given period. Changes in the
fair value of the contingent consideration obligations are recorded
in our consolidated statement of operations. Contingent
consideration was recognized on October 17, 2011 in connection with
the Amorcyte merger (see Note 3). There were no changes in
contingent consideration fair value as of March 31, 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
For those financial instruments with significant Level 3 inputs,
the following table summarizes the activity for the three months
ended March 31, 2012 by type of instrument (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 82%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center"&gt;Three Months Ended&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Embedded
Derivatives&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;Warrants&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 66%; text-align: left"&gt;Beginning liability
balance&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;391.7&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;82.7&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Change in fair
value recorded in earnings&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(76.4&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
(10.8&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;Ending liability balance&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
315.3&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
71.9&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Some of the Company&amp;#x2019;s financial instruments are not measured
at fair value on a recurring basis, but are recorded at amounts
that approximate fair value due to their liquid or short-term
nature, such as cash and cash equivalents, restricted cash,
accounts receivable, accounts payable, notes payable and bank
loans.&lt;/p&gt;
&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:RepaymentsOfRelatedPartyDebt contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_32">34673</us-gaap:RepaymentsOfRelatedPartyDebt>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_6F01DC6B-046F-45B5-B1D3-EE3BBCBCE007_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 13 &amp;#x2013; Income Taxes&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Tax Reform Act of 1986 enacted a complex set of rules limiting
the utilization of net operating loss carryforwards
(&amp;#x201C;NOL&amp;#x201D;) to offset future taxable income following a
corporate ownership change. The Company&amp;#x2019;s ability to utilize
its NOL carryforwards is limited following a change in ownership in
excess of fifty percentage points during any three-year period.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Since the year 2000, the Company has had several changes in
ownership which has resulted in a limitation on the Company&amp;#x2019;s
ability to apply net operating losses to future taxable income. As
of December 31, 2011 the Company has lost $25,994,800 or $8,838,200
in tax benefits, of net operating losses applicable to Federal
income taxes which expired due to these limitations and expiration
of net operating loss carryforwards. At December 31, 2011, the
Company had net operating loss carryforwards of approximately
$47,427,300 applicable to future Federal income taxes. The tax loss
carryforwards are subject to annual limitations and expire at
various dates through 2030. The Company has recorded a full
valuation allowance against its net deferred tax asset because it
is more likely than not that such deferred tax assets will be
realized.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The Company has provided deferred income taxes for the estimated
U.S. federal and foreign income tax effects of earnings of
subsidiaries expected to be distributed to the Company. Deferred
income taxes have been provided on approximately $5,324,300 of
undistributed earnings of certain foreign subsidiaries as of
December 31, 2011 as such amounts are not considered to be
permanently reinvested.&lt;/p&gt;
&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:InterestPaid contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_41">620000</us-gaap:InterestPaid>
  <us-gaap:BusinessCombinationDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_BA4F5FF1-9278-4B8A-A5C0-DB369F65A777_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;u&gt;Note 3 &amp;#x2013; Acquisitions&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&lt;i&gt;Amorcyte Acquisition&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
On October 17, 2011 (the &amp;#x201C;Closing Date&amp;#x201D;), Amo
Acquisition Company I, Inc. (&amp;#x201C;Subco&amp;#x201D;), a newly-formed
wholly-owned subsidiary of NeoStem, Inc. (&amp;#x201C;NeoStem&amp;#x201D; or
the &amp;#x201C;Company&amp;#x201D;), merged (the &amp;#x201C;Amorcyte
Merger&amp;#x201D;) with and into Amorcyte, Inc., a Delaware corporation
(&amp;#x201C;Amorcyte&amp;#x201D;), in accordance with the terms of the
Agreement and Plan of Merger, dated as of July 13, 2011 (the
&amp;#x201C;Amorcyte Merger Agreement&amp;#x201D;), among NeoStem, Amorcyte,
Subco, and Amo Acquisition Company II, LLC (&amp;#x201C;Subco
II&amp;#x201D;). As a result of the consummation of the Amorcyte Merger,
Amorcyte is now a wholly-owned subsidiary of NeoStem. Amorcyte is a
development stage cell therapy company focusing on novel treatments
for cardiovascular disease.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The preliminary fair value of assets acquired and liabilities
assumed on October 17, 2011 is as follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 83%"&gt;Cash&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;92.9&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Prepaid Expenses&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;178.2&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;In Process R&amp;amp;D&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;9,400.0&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Goodwill&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;4,104.5&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Accounts Payable &amp;amp; Accrued
Liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,177.1&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Deferred Tax Liability&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;3,774.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Amount Due Related Party&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;340.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
The total cost of the acquisition, which is still preliminary, has
been allocated to the assets acquired and the liabilities assumed
based upon their estimated fair values at the date of the
acquisition. The final allocation is pending the receipt of this
valuation work and the completion of the Company&amp;#x2019;s internal
review, which is expected during fiscal 2012.&lt;/p&gt;
&lt;/div&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_16">726303</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_21F14BFA-E5EB-4C95-8329-EAF306978795_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 9 &amp;#x2013; Accrued Liabilities&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Accrued liabilities are as follows (in thousands):&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;March 31,
2012&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap" style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"&gt;December 31,
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 66%; text-align: left"&gt;VAT and other taxes&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;1,020.5&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 14%; text-align: right"&gt;705.2&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Customer security deposits&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;445.6&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;444.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Salaries, employee benefits and
related taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;595.4&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;365.7&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="padding-bottom: 1pt"&gt;Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
1,368.8&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
1,280.7&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
3,430.3&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
2,796.0&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:OperatingExpenses contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_1C3767C6-0576-47F4-AFA1-53EC60964299_1_5">12166707</us-gaap:OperatingExpenses>
  <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_BDCD4014-286F-4113-A21B-042C8C7C511F_5010_1300004">2476666</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
  <us-gaap:UnrealizedGainLossOnDerivatives contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_6">87291</us-gaap:UnrealizedGainLossOnDerivatives>
  <us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" unitRef="iso4217_USD" decimals="0" id="id_22922_F2A6F3FA-5F2E-42EE-B0E4-8B292079927B_1_17">477635</us-gaap:IncreaseDecreaseInDeferredRevenue>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="eol_PE6286----1210-Q0004_STD_91_20120331_0" id="id_22922_3BCC1467-BD99-4E65-A685-4DE6EAAAEC17_1_0">&lt;div style="font: 10pt Times New Roman, Times, Serif"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;
&lt;b&gt;&lt;u&gt;Note 16 &amp;#x2013; Related Party Transactions&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
At March 31, 2012 and December 31, 2011, Erye owed EET, the 49%
shareholder of Erye, approximately $21,293,100 and $20,862,700,
respectively, which represents dividends paid and loaned back to
Erye. At March 31, 2012 and December 31, 2011 the interest rate on
this loan was 6.831% and 6.56% , respectively. In June 2011 Erye
paid EET approximately $875,100 consisting of the net of the
following: $1,115,000 of unpaid accrued interest at June 30, 2011,
approximately $408,700 repayment of a non interest bearing loan due
in 2011 and recovery of cash advances to EET of approximately
$648,600. In December 2011 Erye paid EET approximately $125,100 of
unpaid accrued interest with bank draft due in June 2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Pursuant to the terms and conditions of the October 2009 Erye Joint
Venture Agreement, dividend distributions to EET and the
Company&amp;#x2019;s subsidiary will be made in proportion to their
respective ownership interests in Erye; provided, however, that for
the three-year period commencing on the first day of the first
fiscal quarter after the Joint Venture Agreement became effective
distributions are made as follows: for undistributed profits
generated subsequent to the acquisition date: (i) the 49% of
undistributed profits (after tax) of the joint venture due EET will
be distributed to EET and lent back to Erye to help finance costs
in connection with its construction of and relocation to a new
facility (to be repaid gradually after construction is completed);
and (ii) of the net profit (after tax) of the joint venture due the
Company, 45% will be provided to Erye as part of the new facility
construction fund and will be characterized as additional paid-in
capital for the Company&amp;#x2019;s 51% interest in Erye, and 6% will
be distributed to the Company. For undistributed profits generated
prior to the acquisition date: (i) the 49% of undistributed profits
(after tax) of the joint venture due EET will be distributed to EET
and lent back to Erye to help finance costs in connection with its
construction of and relocation to a new facility (to be repaid
gradually after construction is completed); and (ii) of the net
profit (after tax) of the joint venture due the Company, 51% will
be provided to Erye as part of the new facility construction fund
and will be characterized as additional paid-in capital for the
Company&amp;#x2019;s 51% interest in Erye. It was contemplated by the
Joint Venture Agreement that the construction would continue for
three years. As such, 45% of the dividend we would be entitled to
by reason of our 51% ownership would remain in Erye through 2012 to
complete the construction while EET would loan back their dividend
during the same period at a prevailing bank interest rate. Upon a
liquidity event of Erye, as contemplated in the joint venture
agreement, the Company will be entitled to the return of its
dividend reinvestments to the extent of the proceeds generated by
the liquidity event. Repayment of such loans from EET would occur
gradually after the construction is completed. In January 2011, a
dividend totaling approximately $13,671,100 based on earnings for
Fiscal Year 2009 was declared and approximately $6,698,800 was
distributed to EET and lent back to Erye and approximately
$6,972,300 due the Company was reinvested and re-characterized as
additional paid-in capital in the business. In April 2011, a
dividend totaling $10,259,700 based on earnings for Fiscal Year
2010 was declared and approximately $5,027,300 was distributed to
EET and lent back to Erye, and approximately $5,232,400 due the
Company was reinvested and re-characterized as additional paid-in
capital in the business. A 10% withholding tax was required on
dividends payable to the Company. As a result, Erye withheld
approximately $1,220,500 in taxes related to the Company&amp;#x2019;s
Fiscal Year 2009 and 2010 dividend amounts, and such amount has
been paid to the local Chinese tax authorities as of December 31,
2011.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"&gt;
Effective March 10, 2011, Matthew Henninger entered into a
consulting agreement with PCT, pursuant to which Mr. Henninger was
engaged for a three month term to serve as an advisor to PCT with
regard to the development of the &amp;#x201C;Family Plan,&amp;#x201D; a
multi-generational stem cell collection and storage service. The
agreement was subsequently amended and extended with the approval
of the Audit Committee through December 31, 2011. The term was
further extended to March 31, 2012 with the approval of the Audit
Committee, in connection with which Mr. Henninger was granted an
option to purchase 75,000 shares of NeoStem Common Stock under the
2009 Plan at $0.52 per share (Black Scholes value $20,696) vesting
over the term of the extension, $10,000 per month for a three month
period and continued insurance reimbursement. Mr. Henninger is in
an exclusive relationship with the CEO of NeoStem.&lt;/p&gt;
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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>7
<FILENAME>nbs-20120331.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
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<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Schema, based on XBRL 2.1  http://www.edgar-online.com/ -->
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<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
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        <link:usedOn>link:presentationLink</link:usedOn>
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  <element name="SupplementalPropertyAndEquipmentNet" id="nbs_SupplementalPropertyAndEquipmentNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="WeightedAverageNumberBasicDilutedSharesOutstanding" id="nbs_WeightedAverageNumberBasicDilutedSharesOutstanding" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>nbs-20120331_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Calculation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.14.9 -->
<!-- Round: c0ffbc21-6f68-4de8-b24d-167e8d19c67f -->
<!-- Creation date: 2012-05-10T22:02:55Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#DocumentDocumentandEntityInformation" roleURI="http://www.neostem.com/taxonomy/role/DocumentDocumentandEntityInformation"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_StatementOfFinancialPositionClassified" roleURI="http://www.neostem.com/taxonomy/role/StatementOfFinancialPositionClassified"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_StatementOfFinancialPositionClassifiedParen" roleURI="http://www.neostem.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_StatementOfIncome" roleURI="http://www.neostem.com/taxonomy/role/StatementOfIncome"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_StatementOfOtherComprehensiveIncome" roleURI="http://www.neostem.com/taxonomy/role/StatementOfOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome" roleURI="http://www.neostem.com/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_StatementOfCashFlowsIndirect" roleURI="http://www.neostem.com/taxonomy/role/StatementOfCashFlowsIndirect"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsNatureOfOperations" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsNatureOfOperations"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsSignificantAccountingPoliciesTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsBusinessCombinationDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsBusinessCombinationDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsCashAndCashEquivalentsDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsCashAndCashEquivalentsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsInventoryDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsEarningsPerShareTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsDebtDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsPreferredStockTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsPreferredStockTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="nbs-20120331.xsd#Role_NotesToFinancialStatementsSubsequentEventsTextBlock" roleURI="http://www.neostem.com/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.neostem.com/taxonomy/role/DocumentDocumentandEntityInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.neostem.com/taxonomy/role/StatementOfFinancialPositionClassified">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="us-gaap_AccruedIncomeTaxesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent" xlink:label="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesCurrent" xlink:label="us-gaap_DeferredTaxLiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:label="us-gaap_DeferredTaxLiabilitiesNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeLiabilitiesNoncurrent" xlink:label="us-gaap_DerivativeLiabilitiesNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DueToRelatedPartiesNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansPayableToBankCurrent" xlink:label="us-gaap_LoansPayableToBankCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermNotesPayable" xlink:label="us-gaap_LongTermNotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TemporaryEquityCarryingAmount" xlink:label="us-gaap_TemporaryEquityCarryingAmount"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TemporaryEquityValueExcludingAdditionalPaidInCapital" xlink:label="us-gaap_TemporaryEquityValueExcludingAdditionalPaidInCapital"/>
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    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent" order="1.0400" weight="1.00" priority="2" use="optional"/>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>9
<FILENAME>nbs-20120331_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Definition Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.14.9 -->
<!-- Round: c0ffbc21-6f68-4de8-b24d-167e8d19c67f -->
<!-- Creation date: 2012-05-10T22:02:55Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>nbs-20120331_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Labels Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.14.9 -->
<!-- Round: c0ffbc21-6f68-4de8-b24d-167e8d19c67f -->
<!-- Creation date: 2012-05-10T22:02:55Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US" id="id_22922_454109_1_1">Accounts Payable And Accrued Liabilities Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US" id="id_22922_454109_2_1">Accrued Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" id="id_22922_455957_1_1">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" id="id_22922_455957_2_1">Accounts payable</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" id="id_22922_445011_1_1">Accounts Receivable Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" id="id_22922_445011_2_1">Accounts receivable trade, net of allowance for doubtful accounts of $630,707 and $501,841, respectively</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="us-gaap_AccruedIncomeTaxesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_lbl" xml:lang="en-US" id="id_22922_445635_1_1">Accrued Income Taxes Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_lbl" xml:lang="en-US" id="id_22922_445635_2_1">Income taxes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="us-gaap_AccruedIncomeTaxesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_22922_444341_1_1">Accrued Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_22922_444341_2_1">Accrued liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" id="id_22922_442171_1_1">Accumulated Other Comprehensive Income Loss Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" id="id_22922_442171_2_1">Accumulated other comprehensive income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_22922_443982_1_1">Accumulated Other Comprehensive Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_22922_443982_2_1">Accumulated Other Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_22922_450188_1_1">Additional Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_22922_450188_2_1">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" id="id_22922_453698_1_1">Additional Paid In Capital [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" id="id_22922_453698_2_1">Additional Paid in Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="nbs-20120331.xsd#nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax" xlink:label="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" id="id_22922_459030_3_1">Overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" id="id_22922_459030_1_1">Adjustment Income Loss From Discontinued Operations Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" id="id_22922_459030_2_1">Loss on exit of segment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax" xlink:to="nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_456429_1_1">Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_456429_2_1">Adjustments to reconcile net loss to net cash used in operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" id="id_22922_450809_1_1">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" id="id_22922_450809_2_1">Accounts receivable trade, allowance for doubtful accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" id="id_22922_440685_1_1">Amendment Flag</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" id="id_22922_440685_2_1">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US" id="id_22922_455425_1_1">Amortization Of Financing Costs And Discounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US" id="id_22922_455425_2_1">Amortization of preferred stock discount and issuance cost</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" id="id_22922_445113_1_1">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" id="id_22922_445113_6_1">Assets, Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" id="id_22922_450333_1_1">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" id="id_22922_450333_2_1">ASSETS</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" id="id_22922_447705_1_1">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" id="id_22922_447705_6_1">Total current assets</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" id="id_22922_448471_1_1">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" id="id_22922_448471_2_1">Current Assets</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_lbl" xml:lang="en-US" id="id_22922_453539_1_1">Assets Of Disposal Group Including Discontinued Operation Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_lbl" xml:lang="en-US" id="id_22922_453539_2_1">Assets related to discontinued operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent" xlink:label="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_CashPaidDuringPeriodForAbstract_lbl" xml:lang="en-US" id="id_22922_457105_3_1">Cash Paid During Period For [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" id="id_22922_446374_1_1">Commitments And Contingencies</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US" id="id_22922_443397_1_1">Commitments And Contingencies Disclosure [Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_CommonStockIssuedToAcquireBusinesses_lbl" xml:lang="en-US" id="id_22922_463786_3_1">Common Stock Issued To Acquire Businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_CommonStockIssuedToAcquireBusinesses_lbl" xml:lang="en-US" id="id_22922_463786_1_1">Common Stock Issued To Acquire Businesses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="id_22922_444581_1_1">Common Stock [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
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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" id="id_22922_454829_2_1">Common stock, authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" id="id_22922_453540_1_1">Common Stock Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" id="id_22922_453540_2_1">Common stock, issued</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="id_22922_447408_1_1">Common Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="id_22922_447408_2_1">Common stock, outstanding</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" id="id_22922_445860_1_1">Common Stock Value</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion" xlink:label="us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US" id="id_22922_445998_1_1">Inventory Net</label>
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    <loc xlink:type="locator" xlink:href="nbs-20120331.xsd#nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementShares" xlink:label="nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementShares_lbl" xml:lang="en-US" id="id_22922_466709_3_1">Issuance Of Common Stock In Connection With Preferred Stock Settlement, Shares</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementValue_lbl" xml:lang="en-US" id="id_22922_463061_3_1">Issuance Of Common Stock In Connection With Preferred Stock Settlement, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementValue_lbl" xml:lang="en-US" id="id_22922_463061_1_1">Issuance Of Common Stock In Connection With Preferred Stock Settlement Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_IssuanceOfCommonStockInExchangeForConvertiblePreferredStock_lbl" xml:lang="en-US" id="id_22922_463049_3_1">Issuance Of Common Stock In Exchange For Convertible Preferred Stock</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="id_22922_452563_1_1">Liabilities And Stockholders Equity</label>
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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" id="id_22922_445804_1_1">Liabilities And Stockholders 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" id="id_22922_445804_2_1">LIABILITIES AND EQUITY</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" id="id_22922_442283_1_1">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" id="id_22922_442283_6_1">Total current liabilities</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US" id="id_22922_453630_1_1">Liabilities Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US" id="id_22922_453630_2_1">Current Liabilities</label>
    <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"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xml:lang="en-US" id="id_22922_446802_1_1">Liabilities Noncurrent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xml:lang="en-US" id="id_22922_453371_1_1">Liabilities Noncurrent [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US" id="id_22922_446163_2_1">Noncontrolling interests</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="us-gaap_NatureOfOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US" id="id_22922_450968_1_1">Nature Of Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US" id="id_22922_450968_2_1">The Business</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" id="id_22922_455588_1_1">Net Cash Provided By Used In Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" id="id_22922_455588_6_1">Net cash provided by financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_441258_1_1">Net Cash Provided By Used In Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_441258_2_1">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" id="id_22922_442115_1_1">Net Cash Provided By Used In Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" id="id_22922_442115_6_1">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_446874_1_1">Net Cash Provided By Used In Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_446874_2_1">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_22922_444138_1_1">Net Cash Provided By Used In Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_22922_444138_6_1">Net cash provided by (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_455701_1_1">Net Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_455701_2_1">Cash flows from operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_22922_448373_1_1">Net Income 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" id="id_22922_448373_6_1">Net loss attributable to NeoStem, Inc.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" id="id_22922_441875_1_1">Net Income Loss Attributable To Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" id="id_22922_441875_2_1">Less - net income attributable to noncontrolling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_22922_450174_1_1">Net Income Loss Available To Common Stockholders Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_22922_450174_6_1">Net loss attributable to NeoStem, Inc. common shareholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoncashContributionExpense" xlink:label="us-gaap_NoncashContributionExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashContributionExpense_lbl" xml:lang="en-US" id="id_22922_455987_1_1">Noncash Contribution Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoncashContributionExpense_lbl" xml:lang="en-US" id="id_22922_455987_2_1">Contributions paid with common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashContributionExpense" xlink:to="us-gaap_NoncashContributionExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="nbs-20120331.xsd#nbs_NoncashFinancingActivitiesAbstract" xlink:label="nbs_NoncashFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_NoncashFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457106_3_1">Noncash Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_NoncashFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457106_1_1">Noncash Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="nbs_NoncashFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457106_2_1">Supplemental schedule of non-cash financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="nbs_NoncashFinancingActivitiesAbstract" xlink:to="nbs_NoncashFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="nbs-20120331.xsd#nbs_NoncashInvestingActivitiesAbstract" xlink:label="nbs_NoncashInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_NoncashInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457107_3_1">Noncash Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_NoncashInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457107_1_1">Noncash Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="nbs_NoncashInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_22922_457107_2_1">Supplemental Schedule of non-cash investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="nbs_NoncashInvestingActivitiesAbstract" xlink:to="nbs_NoncashInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="us-gaap_NoncontrollingInterestMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US" id="id_22922_443747_1_1">Noncontrolling Interest [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US" id="id_22922_443747_2_1">Non-Controlling Interest in Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="us-gaap_NoncontrollingInterestMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US" id="id_22922_448410_1_1">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" id="id_22922_448410_6_1">Nonoperating Income (Expense), Total</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_22922_451121_1_1">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" id="id_22922_451121_2_1">Other income (expense):</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:label="us-gaap_NotesPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesPayableCurrent_lbl" xml:lang="en-US" id="id_22922_455336_1_1">Notes Payable Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotesPayableCurrent_lbl" xml:lang="en-US" id="id_22922_455336_2_1">Notes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableCurrent" xlink:to="us-gaap_NotesPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="nbs-20120331.xsd#nbs_NotesToFinancialStatementsAbstract" xlink:label="nbs_NotesToFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US" id="id_22922_457102_3_1">Notes to Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US" id="id_22922_457102_1_1">Notes To Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="nbs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US" id="id_22922_457102_2_1">Notes to Financial Statements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="nbs_NotesToFinancialStatementsAbstract" xlink:to="nbs_NotesToFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_22922_454286_1_1">Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_22922_454286_6_1">Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" id="id_22922_451396_1_1">Operating Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" id="id_22922_451396_6_1">Operating loss</label>
    <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"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US" id="id_22922_441001_1_1">Other Assets Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US" id="id_22922_441001_2_1">Other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US" id="id_22922_443296_1_1">Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeOtherNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeOtherNetOfTax"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeOtherNetOfTax_lbl" xml:lang="en-US" id="id_22922_441561_2_1">Foreign currency translation elimination on discontinued operations</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherIntangibleAssetsNet" xlink:label="us-gaap_OtherIntangibleAssetsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherIntangibleAssetsNet_lbl" xml:lang="en-US" id="id_22922_451719_1_1">Other Intangible Assets Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherIntangibleAssetsNet_lbl" xml:lang="en-US" id="id_22922_451719_2_1">Land use rights, net</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ParentMember_lbl" xml:lang="en-US" id="id_22922_442763_1_1">Parent [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="id_22922_454155_2_1">Preferred stock, par value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="nbs_PreferredStockSharesDesignated_lbl" xml:lang="en-US" id="id_22922_477027_3_1">Preferred Stock, Shares Designated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="nbs_PreferredStockSharesDesignated_lbl" xml:lang="en-US" id="id_22922_477027_1_1">Preferred Stock Shares Designated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="nbs_PreferredStockSharesDesignated_lbl" xml:lang="en-US" id="id_22922_477027_2_1">Preferred stock, shares designated</label>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>nbs-20120331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Presentation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
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<!-- Creation date: 2012-05-10T22:02:55Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
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          <div style="width: 200px;"><strong>Subsequent Events<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2012</div>
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<b><u>Note 18 &#x2013; Subsequent Events</u></b></p>
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&#xA0;</p>
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On April 4, 2012, the underwriter from the March 29, 2012 public
offering (previously disclosed in our Form 8-K filed on March 29,
2012) of 15,000,000 units exercised its over-allotment option for
an additional 2,000,000 units (previously disclosed in our Form 8-K
filed on April 5, 2012). Each unit consists of one share of common
stock and a warrant to purchase one share of common stock with a
per share exercise price of $0.51. Additionally in April 2012, the
warrants issued in connection with the offering initially
exercisable beginning on September 30, 2012, were accelerated and
are now exercisable immediately. The Company received additional
gross proceeds of $800,000, prior to deducting underwriting
discounts, for net proceeds of approximately $744,000.</p>
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On April 26, 2012 (the &#x201C;Effective Date&#x201D;), the
Compensation Committee of the Board of Directors adopted a program
(the &#x201C;2012 Option Program&#x201D;) whereby each participating
officer was issued on April 26, 2012 an option (the
&#x201C;Option&#x201D;) to purchase that number of shares of Common
Stock equal to that portion of the participating officer&#x2019;s
gross salary (the &#x201C;Participating Salary&#x201D;) for the
period May 1, 2012 &#x2013; July 31, 2012 (the &#x201C;Election
Period&#x201D;) elected by the participating officer divided by
$0.25, the Black-Scholes value of an Option issued under the 2012
Option Program. The Option, the issuance of which is in lieu of
payment of the Participating Salary, vests at the end of the month
in which the Participating Salary to which it relates would have
been paid and has a term of ten years despite any termination of
employment of the participating officer. The per share exercise
price is $0.36, the closing price of the Common Stock on the date
of issuance of the Options. The gross Participating Salary for all
participating officers is $181,309 and the total number of Options
granted under the 2012 Option Program was 725,235.</p>
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                <p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <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">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_SignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><u>Note 2 &#x2013; Summary of Significant Accounting
Policies</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<i>&#xA0;</i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In addition to the policies below, our significant accounting
policies are described in Note 2 of the Notes to Consolidated
Financial Statements included in our Annual Report on Form 10-K for
the year ended December 31, 2011. There were no changes during the
three months ended March 31, 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><i>Accounts Receivable</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Accounts receivable are carried at original invoice amount less an
estimate made for doubtful accounts. The Company applies judgment
in connection with establishing the allowance for doubtful
accounts. Specifically, the Company analyzes the aging of accounts
receivable balances, historical bad debts, customer concentration
and credit-worthiness, current economic trends and changes in the
Company&#x2019;s customer payment terms. Significant changes in
customer concentrations or payment terms, deterioration of customer
credit-worthiness or weakening economic trends could have a
significant impact on the collectability of the receivables and the
Company&#x2019;s operating results. If the financial condition of
the Company&#x2019;s customers were to deteriorate, resulting in an
impairment of their ability to make payments, additional allowances
may be required. Management regularly reviews the aging of
receivables and changes in payment trends by its customers, and
records a reserve when it believes collection of amounts due are at
risk.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><i>Revenue Recognition</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<i>Prescription drugs and intermediary pharmaceutical products:</i>
The Company recognizes revenue from pharmaceutical and
pharmaceutical intermediary products sales when title has passed,
the risks and rewards of ownership have been transferred to the
customer, the fee is fixed and determinable, and the collection of
the related receivable is reasonably assured which is generally at
the time of delivery.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<i>Stem cell related service revenues:</i> The Company recognizes
revenue for its cell development and manufacturing services based
on the terms of individual contracts. Cell development services
generally contain multiple stages, which the Company evaluates for
multiple elements. Each stage does not have stand-alone value and
are dependent upon one another; therefore the Company recognizes
revenue on a completed contract basis. Manufacturing services
represent separate and distinct arrangements, and the Company is
paid for time and materials or for fixed monthly amounts and
revenue is recognized when efforts are expended or contractual
terms have been met. The Company separately charges the customers
for reimbursable expenses that are specified in each contract. On a
monthly basis, the Company bills customers for reimbursable
expenses and immediately recognizes reimbursement revenue, as the
revenue is deemed earned as reimbursable expenses are incurred.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company recognizes revenue related to the collection and
cryopreservation of cord blood and autologous adult stem cells when
the cryopreservation process is completed which is approximately
twenty four hours after cells have been collected. Revenue related
to advance payments of storage fees is recognized ratably over the
period covered by the advance payments.</p>
</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_SignificantAccountingPoliciesTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <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 all significant accounting policies of the reporting 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18743-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18854-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 22<br><br> -Paragraph 8<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18861-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>16
<FILENAME>Financial_Report.xls
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<DOCUMENT>
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>The Business<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_NatureOfOperations', window );">The Business</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><u>Note 1&#xA0;&#xA0;&#x2013; The Business</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Overview</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<i>&#xA0;</i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
NeoStem, Inc. (&#x201C;NeoStem&#x201D; or the &#x201C;Company&#x201D;)
was incorporated under the laws of the State of Delaware in
September 1980 under the name Fidelity Medical Services, Inc. The
Company&#x2019;s corporate headquarters are located at 420 Lexington
Avenue, Suite 450, New York, NY 10170. The Company&#x2019;s
telephone number is (212) 584-4180 and its website address is
<i>www.neostem.com</i>.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
NeoStem, Inc. is an international biopharmaceutical company. In
2011, we operated our business in three reportable segments: (i)
Cell Therapy&#xA0;&#x2014;&#xA0;United States; (ii) Regenerative
Medicine&#xA0;&#x2014;&#xA0;China; and (iii) Pharmaceutical
Manufacturing&#xA0;&#x2014;&#xA0;China. Effective March 31, 2012, we
committed to discontinue operations in the Regenerative Medicine
&#x2013; China reportable segment, which is now reported in
discontinued operation (see Note 15). We also continue to pursue
the divestiture of the Pharmaceutical Manufacturing - China segment
and anticipate it will have been exited by the close of 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<i>&#xA0;</i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Basis of Presentation</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The accompanying unaudited Consolidated Financial Statements have
been prepared in accordance with accounting principles generally
accepted in the United States of America (&#x201C;generally accepted
accounting principles&#x201D;) for interim financial information and
with the instructions to Form 10-Q and Article 8 of Regulation S-X
of the Securities and Exchange Commission for interim financial
information. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of
management, the accompanying Consolidated Financial Statements of
the Company and its subsidiaries, which are unaudited, include all
normal and recurring adjustments considered necessary to present
fairly the Company&#x2019;s financial position as of March 31, 2012
and the results of its operations and its cash flows for the
periods presented. The unaudited consolidated financial statements
herein should be read together with the historical consolidated
financial statements of the Company for the years ended December
31, 2011 and 2010 included in our Annual Report on Form 10-K for
the year ended December 31, 2011. Operating results for the three
month period ended March 31, 2012 are not necessarily indicative of
the results that may be expected for the year ending December 31,
2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Use of Estimates</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The preparation of financial statements in conformity with
generally accepted accounting principles in the United States of
America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the
consolidated financial statements. Estimates also affect the
reported amounts of revenues and expenses during the reporting
period. Accordingly, actual results could differ from those
estimates.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Principles of Consolidation</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
The consolidated financial statements include the accounts of
NeoStem, Inc. and its wholly owned and partially owned subsidiaries
and affiliates as listed below:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse">
<tr>
<td nowrap="nowrap" style="width: 42%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
Entity</td>
<td nowrap="nowrap" style="width: 1%; vertical-align: bottom; text-autospace: none">
&#xA0;</td>
<td nowrap="nowrap" style="width: 32%; vertical-align: top; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
Percentage of Ownership</td>
<td nowrap="nowrap" style="width: 1%; vertical-align: bottom; text-autospace: none">
&#xA0;</td>
<td nowrap="nowrap" style="width: 24%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
Location</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">NeoStem, Inc.</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">Parent&#xA0;
Company</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">NeoStem Therapies,
Inc.</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100%</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">Stem Cell
Technologies, Inc.</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100%</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">Amorcyte, LLC</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100%</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">CBH Acquisition
LLC</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
100%</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr>
<td nowrap="nowrap" style="text-autospace: none">China
Biopharmaceuticals Holdings, Inc. (CBH)&#xA0;&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100% owned by CBH
Acquisition LLC</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr>
<td nowrap="nowrap" style="text-autospace: none">Suzhou Erye
Pharmaceuticals Company Ltd.</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">51% owned by CBH</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">People&#x2019;s
Republic of China</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">Progenitor Cell
Therapy, LLC (PCT)</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100%</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">NeoStem Family
Storage, LLC</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100% owned by PCT</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">Athelos
Corporation</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">80.1% owned by PCT</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap" style="text-autospace: none">PCT Allendale,
LLC</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">100% owned by PCT</td>
<td nowrap="nowrap" style="text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none">United States of
America</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Pursuant to the Joint Venture Agreement that governs the ownership
and management of Erye, through 2012: (i) 49% of undistributed
profits (after tax) will be distributed to Suzhou Erye Economy and
Trading Co Ltd. (&#x201C;EET&#x201D;), the owner of the remaining 49%
interest in Erye and loaned back to Erye for use in connection with
its construction of the new Erye facility (to be repaid gradually
after construction is completed); (ii) 45% of the net profit after
tax due to the Company will be provided to Erye as part of the new
facility construction fund, which will be characterized as paid-in
capital for our 51% interest in Erye; and (iii) only 6% of the net
profit will be distributed to us directly for our operating
expenses. The Company is pursuing the divestiture of Erye.</p>
</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_NatureOfOperations">
        <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 the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</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> -Name Statement of Position (SOP)<br><br> -Publisher AICPA<br><br> -Number 94-6<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592<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><nobr>us-gaap_NatureOfOperations</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EMKBG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 21,771,389<span></span></td>
        <td class="nump">$ 12,642,147<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 trade, net of allowance for doubtful accounts of $630,707 and $501,841, respectively</a></td>
        <td class="nump">10,438,972<span></span></td>
        <td class="nump">6,536,176<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">17,982,323<span></span></td>
        <td class="nump">17,153,396<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_DeferredTaxAssetsNetCurrent', window );">Deferred income taxes</a></td>
        <td class="nump">628,499<span></span></td>
        <td class="nump">463,689<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_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaids and other current assets</a></td>
        <td class="nump">2,154,614<span></span></td>
        <td class="nump">1,427,328<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_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent', window );">Assets related to discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,793,457<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">52,975,797<span></span></td>
        <td class="nump">40,016,193<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, plant and equipment, net</a></td>
        <td class="nump">47,327,890<span></span></td>
        <td class="nump">48,106,439<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_OtherIntangibleAssetsNet', window );">Land use rights, net</a></td>
        <td class="nump">4,875,876<span></span></td>
        <td class="nump">4,872,444<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_Goodwill', window );">Goodwill</a></td>
        <td class="nump">19,666,460<span></span></td>
        <td class="nump">19,613,470<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_IntangibleAssetsNetExcludingGoodwill', window );">Intangible assets, net</a></td>
        <td class="nump">36,273,850<span></span></td>
        <td class="nump">36,932,431<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_OtherAssetsNoncurrent', window );">Other assets</a></td>
        <td class="nump">6,164,428<span></span></td>
        <td class="nump">5,786,803<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 );">Assets, Total</a></td>
        <td class="nump">167,284,301<span></span></td>
        <td class="nump">155,327,780<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">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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">19,395,210<span></span></td>
        <td class="nump">10,237,524<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_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
        <td class="nump">3,430,310<span></span></td>
        <td class="nump">2,796,018<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_LoansPayableToBankCurrent', window );">Bank loans</a></td>
        <td class="nump">15,810,000<span></span></td>
        <td class="nump">15,712,000<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_NotesPayableCurrent', window );">Notes payable</a></td>
        <td class="nump">254,387<span></span></td>
        <td class="nump">148,062<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_SecuredDebtCurrent', window );">Mortgages payable</a></td>
        <td class="nump">3,582,072<span></span></td>
        <td class="nump">3,635,061<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_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
        <td class="nump">1,073,313<span></span></td>
        <td class="nump">621,553<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_DeferredTaxLiabilitiesCurrent', window );">Deferred income taxes</a></td>
        <td class="nump">655,125<span></span></td>
        <td class="nump">651,064<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 );">Unearned revenues</a></td>
        <td class="nump">2,934,966<span></span></td>
        <td class="nump">2,436,532<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_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent', window );">Liabilities related to discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">208,830<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_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">47,135,383<span></span></td>
        <td class="nump">36,446,644<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_LiabilitiesNoncurrentAbstract', window );"><strong>Long-term Liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_DeferredTaxLiabilitiesNoncurrent', window );">Deferred income taxes</a></td>
        <td class="nump">9,171,633<span></span></td>
        <td class="nump">9,300,945<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 );">Unearned revenues</a></td>
        <td class="nump">156,466<span></span></td>
        <td class="nump">169,198<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 );">Notes payable</a></td>
        <td class="nump">50,775<span></span></td>
        <td class="text">&#xA0;<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_DerivativeLiabilitiesNoncurrent', window );">Derivative liabilities</a></td>
        <td class="nump">387,172<span></span></td>
        <td class="nump">474,463<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_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent', window );">Acquisition-related contingent consideration</a></td>
        <td class="nump">3,130,000<span></span></td>
        <td class="nump">3,130,000<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_DueToRelatedPartiesNoncurrent', window );">Amount due related parties</a></td>
        <td class="nump">21,293,056<span></span></td>
        <td class="nump">20,862,686<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_LiabilitiesNoncurrent', window );">Total long-term liabilities</a></td>
        <td class="nump">34,189,102<span></span></td>
        <td class="nump">33,937,292<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_CommitmentsAndContingencies', window );">Commitments and Contingencies</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<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_TemporaryEquityAbstract', window );"><strong>Redeemable Securities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_TemporaryEquityValueExcludingAdditionalPaidInCapital', window );">Convertible Redeemable Series E Preferred Stock; 10,582,011 shares designated, liquidation value $1.00 per share; issued and outstanding 5,486,969 and 6,662,748 shares, at March 31, 2012 and December 31, 2011, respectively</a></td>
        <td class="nump">4,182,482<span></span></td>
        <td class="nump">4,811,326<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_TemporaryEquityCarryingAmount', window );">Temporary Equity, Carrying Amount, Total</a></td>
        <td class="nump">4,182,482<span></span></td>
        <td class="nump">4,811,326<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</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_PreferredStockValue', window );">Preferred stock; authorized, 20,000,000 shares Series B convertible redeemable preferred stock liquidation value, 1 share of common stock, $.01 par value; 825,000 shares designated; issued and outstanding, 10,000 shares at March 31, 2012 and December 31, 2011</a></td>
        <td class="nump">100<span></span></td>
        <td class="nump">100<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 );">Common stock, $.001 par value, authorized 500,000,000 shares; issued and outstanding, 129,887,148 and 109,329,587 shares, at March 31, 2012 and December 31, 2011, respectively</a></td>
        <td class="nump">129,887<span></span></td>
        <td class="nump">109,330<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_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump">211,635,762<span></span></td>
        <td class="nump">200,858,638<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_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
        <td class="num">(152,550,831)<span></span></td>
        <td class="num">(143,094,854)<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_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">4,156,186<span></span></td>
        <td class="nump">4,152,343<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 NeoStem, Inc. shareholders' equity</a></td>
        <td class="nump">63,371,104<span></span></td>
        <td class="nump">62,025,557<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_MinorityInterest', window );">Noncontrolling interests</a></td>
        <td class="nump">18,406,230<span></span></td>
        <td class="nump">18,106,961<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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total equity</a></td>
        <td class="nump">81,777,334<span></span></td>
        <td class="nump">80,132,518<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 );">Liabilities and Equity, Total</a></td>
        <td class="nump">$ 167,284,301<span></span></td>
        <td class="nump">$ 155,327,780<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_AccountsPayableCurrent">
        <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 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 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 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 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><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 4<br><br><br><br> -Article 5<br><br><br><br><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 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><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><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_AccruedIncomeTaxesCurrent">
        <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 as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax 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 SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph b(1)<br><br><br><br><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> -Article 9<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br><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 20<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Section Appendix E<br><br><br><br> -Paragraph 289<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Interpretation (FIN)<br><br><br><br> -Number 48<br><br><br><br> -Paragraph 15, 21<br><br><br><br> -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.<br><br><br><br><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><nobr>us-gaap_AccruedIncomeTaxesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_AccruedLiabilitiesCurrent">
        <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 obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. 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).</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 S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_AccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <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 change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</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 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 130<br><br><br><br> -Paragraph 14, 17, 26<br><br><br><br> -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.<br><br><br><br><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 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Staff Position (FSP)<br><br><br><br> -Number FAS115-1/124-1<br><br><br><br> -Paragraph 15D<br><br><br><br> -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.<br><br><br><br><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 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br><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 04<br><br><br><br> -Article 3<br><br><br><br><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 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br><br><br><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><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_AdditionalPaidInCapital">
        <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>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred 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 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><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 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br> -Section S99<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Publisher FASB<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -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.<br><br><br><br><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 18<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><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 9<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><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><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent">
        <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 value (measured at the lower of net carrying value or fair value less cost of disposal) for current assets (assets with expected useful life shorter than one year or one operating cycle, whichever is longer) of a disposal group, including a component of the entity (discontinued operation), to be sold or that has subsequently been disposed of through sale, as of the financial statement 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 Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 144<br><br><br><br> -Paragraph 46<br><br><br><br> -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.<br><br><br><br><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 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1107-107759<br><br><br><br><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><nobr>us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent">
        <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>Noncurrent portion of the fair value as of the acquisition date of potential payments under the contingent consideration arrangement, including cash and shares as applicable.</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><nobr>us-gaap_BusinessAcquisitionContingentConsiderationAtFairValueNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the 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> -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><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 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -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.<br><br><br><br><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 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=6943989&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -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.<br><br><br><br><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 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=6361293&amp;loc=d3e6676-107765<br><br><br><br><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 Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7, 26<br><br><br><br> -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.<br><br><br><br><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> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><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><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_CommitmentsAndContingencies">
        <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 caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</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 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><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 17<br><br><br><br> -Article 9<br><br><br><br><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> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br><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 25<br><br><br><br> -Article 5<br><br><br><br><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 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><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 450<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=6952336&amp;loc=d3e14326-108349<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 5<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -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.<br><br><br><br><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 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><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><nobr>us-gaap_CommitmentsAndContingencies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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 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><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><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><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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=6361293&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7, 8<br><br><br><br> -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.<br><br><br><br><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><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.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6600647&amp;loc=d3e214044-122780<br><br><br><br><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><nobr>us-gaap_DeferredRevenueCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 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=6600647&amp;loc=d3e214044-122780<br><br><br><br><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 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7, 8<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 4: 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><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 48<br><br><br><br> -Paragraph 6<br><br><br><br> -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.<br><br><br><br><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><nobr>us-gaap_DeferredRevenueNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
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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 current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset.</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 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><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 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -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.<br><br><br><br><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 740<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=6907571&amp;loc=d3e31958-109318<br><br><br><br><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 740<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=6907571&amp;loc=d3e31917-109318<br><br><br><br><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 740<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=6907571&amp;loc=d3e31931-109318<br><br><br><br><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><nobr>us-gaap_DeferredTaxAssetsNetCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_DeferredTaxLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, is classified according to the expected reversal date of the temporary difference.</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 740<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=6907571&amp;loc=d3e31917-109318<br><br><br><br><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 740<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=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -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.<br><br><br><br><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 740<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=6907571&amp;loc=d3e31958-109318<br><br><br><br><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 740<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=6907707&amp;loc=d3e32632-109319<br><br><br><br><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 740<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=6907707&amp;loc=d3e32621-109319<br><br><br><br><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><nobr>us-gaap_DeferredTaxLiabilitiesCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference.</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 740<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=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42<br><br><br><br> -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.<br><br><br><br><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 740<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=6907571&amp;loc=d3e31917-109318<br><br><br><br><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 740<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=6907571&amp;loc=d3e31931-109318<br><br><br><br><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><nobr>us-gaap_DeferredTaxLiabilitiesNoncurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>credit</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>
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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>Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements.</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 815<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=6945355&amp;loc=d3e41271-113958<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 107<br><br><br><br> -Paragraph 10<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Staff Position (FSP)<br><br><br><br> -Number FIN39-1<br><br><br><br> -Paragraph 10A, 10B<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7<br><br><br><br> -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.<br><br><br><br><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 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br><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 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 133<br><br><br><br> -Paragraph 4, 17<br><br><br><br> -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.<br><br><br><br><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 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13495-108611<br><br><br><br><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><nobr>us-gaap_DerivativeLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Portion of the carrying amount as of the balance sheet date of obligations due all related parties that is payable after one year or beyond 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 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.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br><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 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br><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> -Article 4<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br><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 210.5-02.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 57<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph d<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 6: 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 23<br><br><br><br> -Article 5<br><br><br><br><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><nobr>us-gaap_DueToRelatedPartiesNoncurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <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_Goodwill">
        <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 as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.</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 Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 45<br><br><br><br> -Subparagraph e<br><br><br><br> -Clause 1<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 43<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 68<br><br><br><br> -Subparagraph l<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 45<br><br><br><br> -Subparagraph e<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 34<br><br><br><br> -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.<br><br><br><br><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 350<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=6905597&amp;loc=d3e13816-109267<br><br><br><br><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 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388280&amp;loc=d3e13770-109266<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 72<br><br><br><br> -Subparagraph d<br><br><br><br> -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.<br><br><br><br><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><nobr>us-gaap_Goodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_IntangibleAssetsNetExcludingGoodwill">
        <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 of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</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 Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 42, 45<br><br><br><br> -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.<br><br><br><br><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 2<br><br><br><br> -Subparagraph ((a)(1),(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br><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 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br><br><br><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><nobr>us-gaap_IntangibleAssetsNetExcludingGoodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one 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><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=6386567&amp;loc=d3e3927-108312<br><br><br><br><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=6361293&amp;loc=d3e6676-107765<br><br><br><br><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><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), 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 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 32<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br><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><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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 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 21<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
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                </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 );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_LiabilitiesNoncurrent">
        <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 is expected to be repaid beyond the following twelve months or one business cycle.</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 S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22, 23, 24, 25, 26, 27<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.22-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_LiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_LiabilitiesNoncurrentAbstract">
        <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><nobr>us-gaap_LiabilitiesNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent">
        <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 current obligations (due less than one year or one operating cycle, if longer) arising from the sale, disposal or planned sale in the near future (generally within one year) of a disposal group, including a component of the entity (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 Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 144<br><br><br><br> -Paragraph 46<br><br><br><br> -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.<br><br><br><br><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 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1107-107759<br><br><br><br><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 205<br><br><br><br> -SubTopic 20<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=6360339&amp;loc=d3e1361-107760<br><br><br><br><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><nobr>us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_LoansPayableToBankCurrent">
        <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 current portion of long-term loans payable to bank due within one year or 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 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 19, 20<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_LoansPayableToBankCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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 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 22<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_LongTermNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_MinorityInterest">
        <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 of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest).</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)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><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 27<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 38<br><br><br><br> -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.<br><br><br><br><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> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Publisher AICPA<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 26<br><br><br><br> -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.<br><br><br><br><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><nobr>us-gaap_MinorityInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NotesPayableCurrent">
        <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 the portions of long-term notes payable due within one year or 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 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 19, 20<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_NotesPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_OtherAssetsNoncurrent">
        <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 carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after 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 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 17<br><br><br><br> -Article 5<br><br><br><br><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><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><nobr>us-gaap_OtherAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_OtherIntangibleAssetsNet">
        <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 carrying amount as of the balance sheet date of other indefinite-lived and finite-lived intangible assets that are not separately presented on the statement of financial position.</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><nobr>us-gaap_OtherIntangibleAssetsNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PreferredStockValue">
        <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 preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred 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 Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -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.<br><br><br><br><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 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=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -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.<br><br><br><br><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 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: 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> -Article 5<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br><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><nobr>us-gaap_PreferredStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets 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 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><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 4<br><br><br><br> -Chapter 3<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><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><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</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><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> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br><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><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph b, c<br><br><br><br> -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.<br><br><br><br><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 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><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><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -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.<br><br><br><br><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 31<br><br><br><br> -Article 5<br><br><br><br><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 04<br><br><br><br> -Article 3<br><br><br><br><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><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_SecuredDebtCurrent">
        <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 the portion of long-term, collateralized debt obligations due within one year or the operating cycle, if longer. Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.</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 S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br><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 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><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><nobr>us-gaap_SecuredDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_StockholdersEquity">
        <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 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 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><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><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 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: 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><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 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=6228006&amp;loc=d3e74512-122707<br><br><br><br><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><nobr>us-gaap_StockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_StockholdersEquityAbstract">
        <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><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <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 of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. 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 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4568740-111683<br><br><br><br><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 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4I<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4590271-111686<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Publisher AICPA<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 26<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 25<br><br><br><br> -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.<br><br><br><br><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 810<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=6921628&amp;loc=SL4568447-111683<br><br><br><br><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><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>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_TemporaryEquityAbstract">
        <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><nobr>us-gaap_TemporaryEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_TemporaryEquityCarryingAmount">
        <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 (book value) of an entity's issued and outstanding stock which is not included within permanent equity in Stockholders Equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.</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 210.5-02.27(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Emerging Issues Task Force (EITF)<br><br><br><br> -Number D-98<br><br><br><br> -Paragraph 2<br><br><br><br> -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.<br><br><br><br><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> -Article 4<br><br><br><br> -Section 08<br><br><br><br> -Paragraph i<br><br><br><br><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 28<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><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><nobr>us-gaap_TemporaryEquityCarryingAmount</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TemporaryEquityValueExcludingAdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Value of temporary equity outstanding, excluding additional paid in capital. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</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 Emerging Issues Task Force (EITF)<br><br><br><br> -Number D-98<br><br><br><br> -Paragraph 2,4,5,6<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2,3,4,5,6,7,8<br><br><br><br> -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.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -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.<br><br><br><br><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> -Article 4<br><br><br><br> -Section 08<br><br><br><br> -Paragraph d<br><br><br><br><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 28<br><br><br><br> -Article 5<br><br><br><br><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>
                    <td><nobr>us-gaap_TemporaryEquityValueExcludingAdditionalPaidInCapital</nobr></td>
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  <head>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E2WBG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF EQUITY (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
        <th class="th">
          <div>Series B Convertible Preferred Stock</div>
        </th>
        <th class="th">
          <div>Common Stock</div>
        </th>
        <th class="th">
          <div>Additional Paid in Capital</div>
        </th>
        <th class="th">
          <div>Accumulated Other Comprehensive Income</div>
        </th>
        <th class="th">
          <div>Accumulated Deficit</div>
        </th>
        <th class="th">
          <div>Total NeoStem, Inc. Shareholders' Equity</div>
        </th>
        <th class="th">
          <div>Non-Controlling Interest in Subsidiary</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning Balance at Dec. 31, 2011</a></td>
        <td class="nump">$ 80,132,518<span></span></td>
        <td class="nump">$ 100<span></span></td>
        <td class="nump">$ 109,330<span></span></td>
        <td class="nump">$ 200,858,638<span></span></td>
        <td class="nump">$ 4,152,343<span></span></td>
        <td class="num">$ (143,094,854)<span></span></td>
        <td class="nump">$ 62,025,557<span></span></td>
        <td class="nump">$ 18,106,961<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Beginning Balance (in shares) at Dec. 31, 2011</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">10,000<span></span></td>
        <td class="nump">109,329,587<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_ProfitLoss', window );">Net loss</a></td>
        <td class="num">(9,206,868)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(9,348,133)<span></span></td>
        <td class="num">(9,348,133)<span></span></td>
        <td class="nump">141,265<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_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Foreign currency translation</a></td>
        <td class="nump">161,847<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,843<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,843<span></span></td>
        <td class="nump">158,004<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Share-based compensation (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">861,004<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Share-based compensation</a></td>
        <td class="nump">2,476,666<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">861<span></span></td>
        <td class="nump">2,475,805<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,476,666<span></span></td>
        <td class="text">&#xA0;<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_StockIssuedDuringPeriodSharesNewIssues', window );">Proceeds from issuance of common stock (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18,465,404<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_StockIssuedDuringPeriodValueNewIssues', window );">Proceeds from issuance of common stock</a></td>
        <td class="nump">7,691,059<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18,465<span></span></td>
        <td class="nump">7,672,594<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7,691,059<span></span></td>
        <td class="text">&#xA0;<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_nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementShares', window );">Repayment of Series E Preferred Principal and Dividends (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,231,153<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementValue', window );">Repayment of Series E Preferred Principal and Dividends</a></td>
        <td class="nump">522,112<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,231<span></span></td>
        <td class="nump">628,725<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(107,844)<span></span></td>
        <td class="nump">522,112<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending Balance at Mar. 31, 2012</a></td>
        <td class="nump">$ 81,777,334<span></span></td>
        <td class="nump">$ 100<span></span></td>
        <td class="nump">$ 129,887<span></span></td>
        <td class="nump">$ 211,635,762<span></span></td>
        <td class="nump">$ 4,156,186<span></span></td>
        <td class="num">$ (152,550,831)<span></span></td>
        <td class="nump">$ 63,371,104<span></span></td>
        <td class="nump">$ 18,406,230<span></span></td>
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      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Ending Balance (in shares) at Mar. 31, 2012</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">10,000<span></span></td>
        <td class="nump">129,887,148<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Issuance Of Common Stock In Connection With Preferred Stock Settlement, Shares</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><nobr>nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementShares</nobr></td>
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                    <td>nbs_</td>
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                    <td>xbrli:sharesItemType</td>
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                    <td>na</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Issuance Of Common Stock In Connection With Preferred Stock Settlement, Value</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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                    <td><strong> Name:</strong></td>
                    <td><nobr>nbs_IssuanceOfCommonStockInConnectionWithPreferredStockSettlementValue</nobr></td>
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                    <td>nbs_</td>
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                    <td>xbrli:monetaryItemType</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 24<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 19, 26<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -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.<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><nobr>us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
                    <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_ProfitLoss">
        <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 consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921930&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569616-111683<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><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_SharesOutstanding">
        <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 issued and outstanding as of the 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><nobr>us-gaap_SharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <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 of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4568740-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4590271-111686<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Publisher AICPA<br><br> -Number 51<br><br> -Paragraph 26<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 25<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4568447-111683<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><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_StockIssuedDuringPeriodSharesNewIssues">
        <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 new stock issued 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<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><nobr>us-gaap_StockIssuedDuringPeriodSharesNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation">
        <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 (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 5<br><br> -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.<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><nobr>us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
        <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>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
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              </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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -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.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Discontinued Operations<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock', window );">Discontinued Operations</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><u>Note 15 &#x2013; Discontinued Operations</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In 2009, the Company began its Regenerative Medicine-China business
in the People&#x2019;s Republic of China (&#x201C;China&#x201D; or
&#x201C;PRC&#x201D;) through its subsidiary, a wholly foreign owned
entity (&#x201C;WFOE&#x201D;) and entered into contractual
arrangements with certain variable interest entities
(&#x201C;VIEs&#x201D;). Foreign companies have commonly used VIE
structures to operate in the PRC, and while such structures are not
uncommon, recently they have drawn greater scrutiny from the local
Chinese business community in the PRC who have urged the PRC State
Council to clamp down on these structures. In addition, in December
2011, China&#x2019;s Ministry of Health announced its intention to
more tightly regulate stem cell clinical trials and stem cell
therapeutic treatments in the PRC, which has created uncertainty
regarding the ultimate regulatory environment in the PRC.
Accordingly, the Company has been taking steps to restrict, with
the expectation of ultimately eliminating, its regenerative
medicine business in the PRC. The Company has concluded that as a
result of these steps, to discontinue operations in its
Regenerative Medicine-China business. The Company has determined
that any liability arising from the activities of the WFOE and the
VIEs will likely be limited to the net assets currently held by
each entity. As of March 31, 2012, the Company recognized the
following loss on exit of the Regenerative Medicine-China business
(in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 76%">Cash</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 20%; text-align: right">195.1</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Prepaid expenses and other current
assets</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">14.9</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Property, plant and equipment,
net</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">1,023.7</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other Assets</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">330.5</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Accounts payable</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(177.1</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Accrued liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(79.2</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Accumulated
comprehensive income</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(169.9</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 2.5pt">Loss on exit of
segment</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1,138.0</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The operations and cash flows of the Regenerative Medicine - China
business will be eliminated from ongoing operations as a result of
our exit decision. The Company expects to have no continuing
involvement in this business going forward. <font style="color: black">The operating results of the Regenerative Medicine
&#x2013; China business for the three months ended March 31, 2012
and 2011, which are included in discontinued operations, were as
follows (in thousands):</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 56%">Revenue</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">52.3</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">50.2</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Cost of revenues</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(30.6</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(18.1</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Research and development</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(103.3</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(158.1</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Selling, general, and
administrative</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(497.3</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(790.1</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Other income (expense)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(6.8</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(12.7</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1pt">Loss on exit of
segment</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(1,138.0</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 2.5pt">Loss from
discontinued operations</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
(1,723.7</td>
<td style="padding-bottom: 2.5pt; text-align: left">)</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
(928.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">)</td>
</tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The summary of the assets and liabilities related to discontinued
operations as of December 31, 2011 was as follows (in
thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">December 31,
2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="font-weight: bold">Assets</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 78%; text-align: left; padding-left: 9.35pt">Cash
and cash equivalents</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">103.3</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-left: 9.35pt">Prepaid expenses
and other current assets</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">284.4</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9.35pt">Property, plant
and equipment, net</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">1,256.8</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Other
Assets</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
149.0</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 9.35pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1,793.5</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="font-weight: bold">Liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9.35pt">Accounts
payable</td>
<td>&#xA0;</td>
<td style="text-align: left">$</td>
<td style="text-align: right">177.8</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">
Accrued liabilities</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
31.0</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
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$</td>
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208.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
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            <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 facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2941-110230<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1436-107760<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2443-110228<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43-48<br><br> -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.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1474-107760<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1020-107759<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1510-107760<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1012-107759<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <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">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><u>Note 17 &#x2013; Commitments and Contingencies</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Lease Commitments</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company leases office and laboratory facilities and certain
equipment under certain noncancelable operating leases that expire
from time to time through 2017. A summary of future minimum rental
payments required under operating leases that have initial or
remaining terms in excess of one year as of March 31, 2012 are as
follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid">Years ended</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Operating
Leases</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 78%; text-align: left; padding-left: 9pt">
2012</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 18%; text-align: right">1,056.0</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9pt">2013</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">974.3</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-left: 9pt">2014</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">606.3</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9pt">2015</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">560.1</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-left: 9pt">2016</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">563.9</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1pt; padding-left: 9pt">Thereafter</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
293.2</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 2.5pt">Total minimum
lease payments</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
4,053.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Expense incurred under operating leases was approximately $464,000
and $412,600 for the three months ended March 31, 2012 and March
31, 2011, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Contingencies</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Under license agreements with third parties the Company is
typically required to pay maintenance fees, make milestone payments
and/or pay other fees and expenses and pay royalties upon
commercialization of products. The Company also sponsors research
at various academic institutions, which research agreements
generally provide us with an option to license new technology
discovered during the course of the sponsored research.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In connection with the issuance to investors and service providers
of many of the shares of the Company&#x2019;s common stock and
warrants to purchase common stock previously disclosed and
described herein, the Company granted the holders registration
rights providing for the registration of such shares of common
stock and shares of common stock underlying warrants on a
registration statement to be filed with the Securities and Exchange
Commission (&#x201C;SEC&#x201D;) so as to permit the resale of those
shares. Certain of the registration rights agreements provided for
penalties for failure to file or failure to obtain an effective
registration statement. With respect to satisfying its obligations
to the holders of these registration rights, the Company has been
in various situations. The Company had previously filed a
registration statement as required for some of the holders, and in
May 2011 filed a registration statement for all of the holders
(except for holders whose shares of Common Stock were currently
salable under Rule 144 of the Securities Act or who waived certain
rights); such registration statement was declared effective by the
SEC on September 30, 2011. The Company has certain obligations to
maintain the effectiveness of this registration statement. Certain
holders who had outstanding registration rights had previously
waived their registration rights or were subject to lock-up
agreements. No holder has yet asserted any claim against the
Company with respect to a failure to satisfy any registration
obligations. Were someone to assert a claim against the Company for
breach of registration obligations, the Company believes it has
several defenses that would result in relieving it from some or any
liability, although no assurances can be given. The Company also
notes that damage claims may be limited, as (i) most shares of
Common Stock as to which registration rights attached are either
now registered or currently salable under Rule 144 of the
Securities Act or are otherwise currently subject to other
restrictions on sale and (ii) the shares of Common Stock underlying
warrants with registration rights are now registered, and during
much of the relevant periods the warrants with registration rights
generally have been out of the money, were subject to lock-up
agreements and/or the underlying shares of Common Stock were
otherwise subject to restrictions on resale. Accordingly, were
holders to assert claims against the Company based on breach of the
Company&#x2019;s obligation to register, the Company believes that
the Company&#x2019;s maximum exposure would not be material.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<i>Chinese regulatory approvals</i>&#xA0;&#x2014;&#xA0;The Company
has determined that it did not obtain all Chinese regulatory
approvals (and associated registrations) required to reflect the
legal title of its interest in Erye as being held by the proper
entity within our group which is its current beneficial owner as
that term is used under U.S. law. The Company believes it has now
determined what governmental approvals (and associated
registrations) will need to be issued by the Suzhou Municipal
Bureau of Foreign Investment and Commerce and the Suzhou
Administration for Industry and Commerce to remediate these
deficiencies and the Company has had counsel in China prepare these
filings. The Company&#x2019;s management believes these regulatory
deficiencies can be remediated and should not delay a possible
divestiture of the Company&#x2019;s interests in Erye that is
currently under evaluation. However, the Company requires the
cooperation of the officers of Erye, as to which no assurance can
be given, and we could be compelled to seek to replace those
officers or to commence legal action to obtain the required
consents or otherwise move forward with requisite filings. In
addition, even if the filings are made, no assurance can be given
that any unremediated regulatory deficiencies would not have an
adverse effect on the operating results and liquidity of Erye and
the Company and will not impede or delay efforts to divest the
Company&#x2019;s interest in Erye. In addition, the remediation
process is expected to trigger certain tax liabilities and
penalties, however the ultimate liability will be based on future
discussions with the relevant Chinese authorities. The Company
cannot reasonably assess the exposure as of March 31, 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<i>Xiangbei Welman Pharmaceutical Co., Ltd. v Suzhou Erye
Pharmaceutical Co., Ltd. and Hunan Weichu Pharmacy Co., Ltd.</i>
involves a patent infringement dispute with respect to a particular
antibiotics complex manufactured by Erye (the "Product"). The
Changsha Intermediate Court ruled initially in Welman's favor and
Erye appealed that judgment to the Hunan High Court. The Supreme
Court of PRC recently rendered a final ruling that Welman is not
entitled to the disputed patent right, and on January 16, 2012 the
Hunan High Court rejected Welman's suit against Erye on that
claimed patent infringement. The initial judgment was rendered on
May 13, 2010 in the amount of approximately 5 million RMB
(approximately $778,500), which was fully accrued for previously in
2011 and reversed in the fourth quarter of 2011 based on these
subsequent rulings.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In 2009, Welman brought a copyright infringement lawsuit against
Erye claiming the package inserts with respect to the Product
infringed their copyright. Erye was enjoined from copying and using
the package inserts on the Product and from selling the Product
with the package inserts and Welman was awarded RMB 50,000. Erye
has filed application for a retrial of the previous lawsuit brought
by Welman to the Hunan High Court, which application filing was
accepted by the court, with the court opening date for retrial not
determined yet.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In July 2011, a new copyright infringement lawsuit was brought by
Welman against Erye claiming that Erye was not complying with the
earlier judgment enjoining them from copying and using the package
inserts for the Product. The Changsha Intermediate Court was
applied to for property preservation and issued a civil decision
freezing Erye's bank deposit of up to RMB 50 million (approximately
US $7.9 million), or to seal up or detain Erye's other properties
of equal value. As of March 31, 2012, approximately 16,808,000RMB
(approximately $2,657,400) of cash had been frozen in six Erye bank
accounts. Erye has contended that jurisdiction is not proper, and
the case is now in review of the Hunan High Court.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
A similar copyright infringement lawsuit was recently instituted by
Welman against Erye in the Guangzhou Intermediate Court to (i)
enjoin Erye from copying and using the package inserts from the
Product and selling the drugs with the aforesaid package inserts;
and (ii) award Welman economic losses of approximately RMB
2,000,000 (approximately $320,000) against Erye. Now the case was
withdrawn by Welman. Welman made an application for preliminary
injunction to prohibit Erye from copying and using the package
inserts from the Product and selling the drugs with the aforesaid
package inserts and Welman's application was denied by the Court on
September 6, 2011. Welman subsequently obtained a preliminary
injunction from a lower court Guangzhou Haizhu District Court on
September 14, 2011. But on October 28, 2011, upon the appeal by
Erye, the Haizhu District Court issued a decision withdrawing the
preliminary injunction. Welman again applied for on April 13, 2012
and obtained on April 17, 2012 a preliminary injunction from
another lower court Guangzhou Baiyun District Court. Erye has
applied for court reconsideration on that granted preliminary
injunction, during which period the said preliminary injunction is
still in enforcement.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14435-108349<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 14<br><br> -Paragraph 3<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br></p>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E3MBG">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br></strong></div>
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        <th class="th" colspan="2">3 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
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        <th class="th">
          <div>Mar. 31, 2011</div>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net loss</a></td>
        <td class="num">$ (9,206,868)<span></span></td>
        <td class="num">$ (9,699,758)<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_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Common stock, stock options and warrants issued as payment for compensation, services rendered and interest expense</a></td>
        <td class="nump">2,476,666<span></span></td>
        <td class="nump">2,018,902<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_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump">2,170,111<span></span></td>
        <td class="nump">2,203,684<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_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of preferred stock discount and issuance cost</a></td>
        <td class="nump">471,934<span></span></td>
        <td class="nump">676,123<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_UnrealizedGainLossOnDerivatives', window );">Changes in fair value of derivative liability</a></td>
        <td class="num">(87,291)<span></span></td>
        <td class="nump">262,667<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_nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax', window );">Loss on exit of segment</a></td>
        <td class="nump">1,138,006<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_ResearchAndDevelopmentInProcess', window );">Write off of acquired in-process research and development</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">927,000<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_PaidInKindInterest', window );">Non-cash interest expense</a></td>
        <td class="nump">335,107<span></span></td>
        <td class="nump">83,207<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_NoncashContributionExpense', window );">Contributions paid with common stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">607,363<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_nbs_ProvisionForReductionOfDoubtfulAccounts', window );">Bad debt expense (recovery)</a></td>
        <td class="nump">347,927<span></span></td>
        <td class="num">(1,516)<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_DeferredIncomeTaxExpenseBenefit', window );">Deferred income taxes</a></td>
        <td class="num">(325,905)<span></span></td>
        <td class="num">(228,352)<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_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities, net of the effect of acquisitions:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
        <td class="num">(614,672)<span></span></td>
        <td class="num">(125,791)<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_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
        <td class="num">(4,218,650)<span></span></td>
        <td class="num">(822,776)<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_IncreaseDecreaseInInventories', window );">Inventory</a></td>
        <td class="num">(726,303)<span></span></td>
        <td class="num">(3,050,771)<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_IncreaseDecreaseInDeferredRevenue', window );">Unearned revenues</a></td>
        <td class="nump">477,635<span></span></td>
        <td class="num">(573,210)<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_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
        <td class="num">(362,258)<span></span></td>
        <td class="text">&#xA0;<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_nbs_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities', window );">Accounts payable, accrued expenses and other current liabilities</a></td>
        <td class="nump">10,230,966<span></span></td>
        <td class="num">(2,471,865)<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_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by (used in) operating activities</a></td>
        <td class="nump">2,106,405<span></span></td>
        <td class="num">(10,195,093)<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_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_CashAcquiredFromAcquisition', window );">Cash received in acquisitions</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">227,942<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_IncreaseDecreaseInRestrictedCash', window );">Change in restricted cash used as collateral for notes payable</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,625,344)<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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Acquisition of property and equipment</a></td>
        <td class="num">(110,071)<span></span></td>
        <td class="num">(707,224)<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_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(110,071)<span></span></td>
        <td class="num">(3,104,626)<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_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_ProceedsFromIssuanceOrSaleOfEquity', window );">Net proceeds from issuance of capital stock</a></td>
        <td class="nump">7,691,059<span></span></td>
        <td class="nump">3,592,723<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_RepaymentsOfSecuredDebt', window );">Repayment of mortgage loan</a></td>
        <td class="num">(52,988)<span></span></td>
        <td class="num">(2,320)<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_ProceedsFromBankDebt', window );">Proceeds of bank loan</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,518,000<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_ProceedsFromNotesPayable', window );">Proceeds from notes payable</a></td>
        <td class="nump">223,433<span></span></td>
        <td class="nump">7,249,117<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_RepaymentsOfNotesPayable', window );">Repayment of notes payable</a></td>
        <td class="num">(66,333)<span></span></td>
        <td class="num">(2,277,000)<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_RepaymentsOfRelatedPartyDebt', window );">Repayment of debt to related party</a></td>
        <td class="num">(34,673)<span></span></td>
        <td class="num">(3,000,000)<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_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock', window );">Repayment of preferred stock</a></td>
        <td class="num">(575,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">7,185,498<span></span></td>
        <td class="nump">7,080,520<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_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Impact of changes of foreign exchange rates</a></td>
        <td class="num">(52,590)<span></span></td>
        <td class="nump">18,679<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_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase/(decrease) in cash and cash equivalents</a></td>
        <td class="nump">9,129,242<span></span></td>
        <td class="num">(6,200,520)<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 at beginning of year</a></td>
        <td class="nump">12,642,147<span></span></td>
        <td class="nump">15,612,391<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 at end of period</a></td>
        <td class="nump">21,771,389<span></span></td>
        <td class="nump">9,411,871<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_nbs_CashPaidDuringPeriodForAbstract', window );"><strong>Cash paid during the period for:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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</a></td>
        <td class="nump">620,000<span></span></td>
        <td class="nump">34,500<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_IncomeTaxesPaid', window );">Taxes</a></td>
        <td class="nump">286,100<span></span></td>
        <td class="nump">1,295,800<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_nbs_NoncashInvestingActivitiesAbstract', window );"><strong>Supplemental Schedule of non-cash investing activities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_nbs_SupplementalPropertyAndEquipmentNet', window );">Acquisition of property and equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">389,300<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_InterestPaidCapitalized', window );">Capitalized interest</a></td>
        <td class="nump">55,400<span></span></td>
        <td class="nump">130,100<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_nbs_NoncashFinancingActivitiesAbstract', window );"><strong>Supplemental schedule of non-cash financing activities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_nbs_CommonStockIssuedToAcquireBusinesses', window );">Common stock and warrants issued with the acquisition of PCT</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">17,866,200<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_nbs_IssuanceOfCommonStockInExchangeForConvertiblePreferredStock', window );">Common stock issued pursuant to the redemption of Convertible Redeemable Series E 7% Preferred Stock</a></td>
        <td class="nump">525,800<span></span></td>
        <td class="nump">783,900<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_nbs_DividendOnPreferredStockSharesOfCommonStockIssuable', window );">Common stock issued in payment of dividends for the Convertible Redeemable Series E 7% Preferred Stock</a></td>
        <td class="nump">$ 104,200<span></span></td>
        <td class="nump">$ 308,700<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax">
        <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>Overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</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><nobr>nbs_AdjustmentIncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_CashPaidDuringPeriodForAbstract">
        <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><nobr>nbs_CashPaidDuringPeriodForAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_CommonStockIssuedToAcquireBusinesses">
        <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>Common Stock Issued To Acquire Businesses</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><nobr>nbs_CommonStockIssuedToAcquireBusinesses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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>duration</td>
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              </div>
            </div>
          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_DividendOnPreferredStockSharesOfCommonStockIssuable">
        <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>Dividend On Preferred Stock, Shares Of Common Stock Issuable</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><nobr>nbs_DividendOnPreferredStockSharesOfCommonStockIssuable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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>
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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_nbs_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities">
        <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 change during the reporting period in the aggregate amount of accounts payable accrued expenses and other liabilities incurred but not paid.</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><nobr>nbs_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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_nbs_IssuanceOfCommonStockInExchangeForConvertiblePreferredStock">
        <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>Issuance Of Common Stock In Exchange For Convertible Preferred Stock</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><nobr>nbs_IssuanceOfCommonStockInExchangeForConvertiblePreferredStock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
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      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_NoncashFinancingActivitiesAbstract">
        <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><nobr>nbs_NoncashFinancingActivitiesAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td>na</td>
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                    <td>duration</td>
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              </div>
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        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_NoncashInvestingActivitiesAbstract">
        <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><nobr>nbs_NoncashInvestingActivitiesAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>na</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_ProvisionForReductionOfDoubtfulAccounts">
        <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>Provision For Reduction Of Doubtful Accounts</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><nobr>nbs_ProvisionForReductionOfDoubtfulAccounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_SupplementalPropertyAndEquipmentNet">
        <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>Supplemental Property And Equipment Net</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><nobr>nbs_SupplementalPropertyAndEquipmentNet</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <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_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 );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <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>The component of interest expense representing the noncash expenses charged against earnings in the period 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_AmortizationOfFinancingCostsAndDiscounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_CashAcquiredFromAcquisition">
        <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 acquisition of business during the period (for example, cash that was held by the acquired 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 16, 17<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<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><nobr>us-gaap_CashAcquiredFromAcquisition</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7, 26<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<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><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
                    <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_DeferredIncomeTaxExpenseBenefit">
        <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 component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 289<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6889476&amp;loc=d3e330036-122817<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><nobr>us-gaap_DeferredIncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_DepreciationAndAmortization">
        <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 current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<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><nobr>us-gaap_DepreciationAndAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_EffectOfExchangeRateOnCashAndCashEquivalents">
        <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 effect of exchange rate changes on cash balances held in foreign currencies.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 25<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&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><nobr>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
            <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 during the current period to foreign, federal, state, and local authorities as taxes on 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (f)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph f<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<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><nobr>us-gaap_IncomeTaxesPaid</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></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 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IncreaseDecreaseInDeferredRevenue</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IncreaseDecreaseInInventories</nobr></td>
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        <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>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IncreaseDecreaseInOtherOperatingAssets</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></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>
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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 net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 16, 17<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<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><nobr>us-gaap_IncreaseDecreaseInRestrictedCash</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data 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>
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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 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<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><nobr>us-gaap_InterestPaid</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amount of cash paid during the current period for interest that is capitalized.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<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><nobr>us-gaap_InterestPaidCapitalized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>The fair value of restricted stock or stock options 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NetCashProvidedByUsedInFinancingActivities">
        <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 cash inflow or outflow from financing activity 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<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><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <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><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NetCashProvidedByUsedInInvestingActivities">
        <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 cash inflow or outflow from investing 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<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><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <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><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NetCashProvidedByUsedInOperatingActivities">
        <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 cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
                    <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_NetCashProvidedByUsedInOperatingActivitiesAbstract">
        <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><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_NoncashContributionExpense">
        <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>Noncash charitable contributions made by the entity 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_NoncashContributionExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_PaidInKindInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock">
        <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 reacquire preferred stock 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<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><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ProceedsFromBankDebt">
        <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 bank borrowing during the year.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_ProceedsFromBankDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ProceedsFromIssuanceOrSaleOfEquity">
        <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 issuance of common stock, preferred stock, treasury stock, stock options, and other types of 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_ProceedsFromIssuanceOrSaleOfEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ProceedsFromNotesPayable">
        <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 borrowing supported by a written promise to pay an obligation.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_ProceedsFromNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ProfitLoss">
        <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 consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921930&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569616-111683<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><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_RepaymentsOfNotesPayable">
        <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 a borrowing supported by a written promise to pay an obligation.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_RepaymentsOfNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_RepaymentsOfRelatedPartyDebt">
        <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 the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_RepaymentsOfRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_RepaymentsOfSecuredDebt">
        <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 repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<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><nobr>us-gaap_RepaymentsOfSecuredDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ResearchAndDevelopmentInProcess">
        <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 purchased research and development assets that are acquired in a business combination have no alternative future use and are therefore written off in the period of acquisition.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 4<br><br> -Paragraph 5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph g<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 2<br><br> -Paragraph 13<br><br> -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.<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><nobr>us-gaap_ResearchAndDevelopmentInProcess</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_UnrealizedGainLossOnDerivatives">
        <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 change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&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><nobr>us-gaap_UnrealizedGainLossOnDerivatives</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EXKAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable trade, allowance for doubtful accounts</a></td>
        <td class="nump">$ 630,707<span></span></td>
        <td class="nump">$ 501,841<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_TemporaryEquitySharesAuthorized', window );">Convertible Redeemable Series E Preferred Stock, shares designated</a></td>
        <td class="nump">10,582,011<span></span></td>
        <td class="nump">10,582,011<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_TemporaryEquityLiquidationPreferencePerShare', window );">Convertible Redeemable Series E Preferred Stock, liquidation value per share</a></td>
        <td class="nump">$ 1.00<span></span></td>
        <td class="nump">$ 1.00<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_TemporaryEquitySharesIssued', window );">Convertible Redeemable Series E Preferred Stock, issued</a></td>
        <td class="nump">5,486,969<span></span></td>
        <td class="nump">6,662,748<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_TemporaryEquitySharesOutstanding', window );">Convertible Redeemable Series E Preferred Stock, outstanding</a></td>
        <td class="nump">5,486,969<span></span></td>
        <td class="nump">6,662,748<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_PreferredStockSharesAuthorized', window );">Preferred stock, authorized</a></td>
        <td class="nump">20,000,000<span></span></td>
        <td class="nump">20,000,000<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_ConvertiblePreferredStockSharesIssuedUponConversion', window );">Preferred stock, Series B convertible redeemable preferred stock liquidation value, share of common stock</a></td>
        <td class="nump">1<span></span></td>
        <td class="nump">1<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_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value</a></td>
        <td class="nump">$ 0.01<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_nbs_PreferredStockSharesDesignated', window );">Preferred stock, shares designated</a></td>
        <td class="nump">825,000<span></span></td>
        <td class="nump">825,000<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_PreferredStockSharesIssued', window );">Preferred stock, issued</a></td>
        <td class="nump">10,000<span></span></td>
        <td class="nump">10,000<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_PreferredStockSharesOutstanding', window );">Preferred stock, outstanding</a></td>
        <td class="nump">10,000<span></span></td>
        <td class="nump">10,000<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_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<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_CommonStockSharesAuthorized', window );">Common stock, authorized</a></td>
        <td class="nump">500,000,000<span></span></td>
        <td class="nump">500,000,000<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_CommonStockSharesIssued', window );">Common stock, issued</a></td>
        <td class="nump">129,887,148<span></span></td>
        <td class="nump">109,329,587<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_CommonStockSharesOutstanding', window );">Common stock, outstanding</a></td>
        <td class="nump">129,887,148<span></span></td>
        <td class="nump">109,329,587<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_PreferredStockSharesDesignated">
        <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>Preferred Stock, Shares Designated</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><nobr>nbs_PreferredStockSharesDesignated</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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_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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6965416&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<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><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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 of common stock per share; generally not indicative of the fair market value per share.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<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><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_CommonStockSharesAuthorized">
        <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 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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<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><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<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><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<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><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_ConvertiblePreferredStockSharesIssuedUponConversion">
        <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 issued for each share of convertible preferred stock that is converted.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -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.<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><nobr>us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PreferredStockParOrStatedValuePerShare">
        <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 nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<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> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -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.<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><nobr>us-gaap_PreferredStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PreferredStockSharesAuthorized">
        <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 number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) 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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<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><nobr>us-gaap_PreferredStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PreferredStockSharesIssued">
        <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 nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as 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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<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><nobr>us-gaap_PreferredStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_PreferredStockSharesOutstanding">
        <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 share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<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;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The per share liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -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.<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>
                    <td><nobr>us-gaap_TemporaryEquityLiquidationPreferencePerShare</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of securities classified as temporary equity that are permitted to be issued by an entity's charter and bylaws. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 28<br><br> -Subparagraph b<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.27(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of securities classified as temporary equity that have been sold (or granted) to the entity's shareholders. Securities issued include securities outstanding and securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 28<br><br> -Subparagraph b<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.27(b))<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;">
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                  <tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of securities classified as temporary equity that have been issued and are held by the entity's shareholders. Securities outstanding equals securities issued minus securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 28<br><br> -Subparagraph b<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.27(b))<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>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Debt<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_DebtDisclosureTextBlock', window );">Debt</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 10 &#x2013; Debt</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Bank Loans</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In June 2011, Erye obtained a bank loan of approximately $1,571,200
from the Agricultural Bank of China according to People&#x2019;s
Bank benchmark interest rates and is due in June 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In October 2011, Erye obtained a bank loan of approximately
$8,641,600 from the CITIC Bank International according to
People&#x2019;s Bank benchmark interest rates with additional rate
up to 10% and is due in October 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In October 2011, Erye obtained a bank loan of approximately
$1,571,200 from the China Merchants Bank according to
People&#x2019;s Bank benchmark interest rates with additional rate
up to 10% and is due in July 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In November 2011, Erye obtained a bank loan of approximately
$3,928,000 from Commercial Bank of China according to
People&#x2019;s Bank benchmark interest rates and is due in November
2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Notes Payable</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<font style="color: black">As of March 31, 2012 and December 31,
2011, the Company had notes payable of approximately
$</font>305,200<font style="color: black">and
$</font>148,100<font style="color: black">, respectively. The notes
relate to certain insurance policies and equipment financings,
require monthly payments, and mature within one to five
years.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Mortgages Payable</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<font style="color: black">On October 31, 2007, PCT issued a note
to borrow $3,120,000 (the &#x201C;Note&#x201D;) in connection with
its $3,818,500 purchase of condominium units in an existing
building in Allendale, New Jersey (the &#x201C;Property&#x201D;) that
PCT uses as a laboratory and stem cell processing facility. The
Note is payable in 239 consecutive monthly payments of principal
and interest, based on a 20 year amortization schedule; and one
final payment of all outstanding principal plus accrued interest
then due. The current monthly installment is $20,766, which
includes interest at an initial rate of 5.00%; the interest rate
and monthly installments payments are subject to adjustment on
October 1, 2017. On that date, upon prior written notice, the
lender has the option to declare the entire outstanding principal
balance, together with all outstanding interest, due and payable in
full. The Note is secured by substantially all of the assets of
PCT, including a first mortgage on the Property and assignment of
an amount approximately equal to eighteen months debt service held
in escrow. The Note matures on October 1, 2027 if not called by the
lender on October 1, 2017. The note is subject to certain debt
service coverage and total debt to tangible net worth financial
covenant ratios measured semi-annually. PCT was not in compliance
with such covenants at the measurement date of December 31, 2011,
and obtained a covenant waiver letter from the lender for all
periods through December 31, 2011. The outstanding balance was
approximately $</font>2,680,100 <font style="color: black">at March
31, 2012 of which $</font>116,000 <font style="color: black">is
payable within twelve months. On December 6, 2010 PCT Allendale, a
wholly-owned subsidiary of PCT, entered into a note for a second
mortgage in the amount of $1 million on the Allendale Property with
TD Bank, N.A. This loan is guaranteed by PCT, DomaniCell (a
wholly-owned subsidiary of PCT, now known as NeoStem Family
Storage, LLC), Northern New Jersey Cancer Associates
(&#x201C;NNJCA&#x201D;) and certain partners of NNJCA and is subject
to a financial covenant starting December 31, 2011. PCT was not in
compliance with such covenants at the measurement date of December
31, 2011, and obtained a covenant waiver letter from the lender for
all periods through December 31, 2011. The loan is for 124 months
at a fixed rate of 6% for the first 64 months. The loan is callable
for a certain period prior to the interest reset date. The initial
four months was interest only. The outstanding balance as of March
31, 2012 is $</font>901,900 <font style="color: black">of which
$</font>77,700 <font style="color: black">is payable within twelve
months. Both mortgages are classified as current liabilities as of
March 31, 2012.</font></p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <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 information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><nobr>us-gaap_DebtDisclosureTextBlock</nobr></td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E2CAE">
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          <div style="width: 200px;"><strong>Document and Entity Information<br></strong></div>
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      <tr>
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          <div>May 04, 2012</div>
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        <td class="text">&#xA0;<span></span></td>
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         2012<span></span></td>
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        <td class="text">NBS<span></span></td>
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      <tr class="ro">
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        <td class="text">0000320017<span></span></td>
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        <td class="text">--12-31<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_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
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        <td class="text">&#xA0;<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document as 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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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --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;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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                <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;">
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                <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">
                  <tr>
                    <td><strong> Name:</strong></td>
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                <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;">
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                <p>The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and 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;">
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                    <td><strong> Name:</strong></td>
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                <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> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [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">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
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                    <td>dei_</td>
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            <div class="body" style="padding: 2px;"><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, or (4) Smaller Reporting Company. 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>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<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><nobr>dei_EntityRegistrantName</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</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>
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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_dei_TradingSymbol">
        <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>Trading symbol of an instrument as listed on an exchange.</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><nobr>dei_TradingSymbol</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</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>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Preferred Stock<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_PreferredStockTextBlock', window );">Preferred Stock</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 11 &#x2013; Preferred Stock</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Convertible Redeemable Series E 7% Preferred
Stock</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
On November 19, 2010, the Company sold 10,582,011 Preferred
Offering Units consisting of (i) one share (&#x201C;Preferred
Share&#x201D;) of Series E 7% Senior Convertible Preferred Stock,
par value $0.01 per share, of the Company, (ii) a warrant to
purchase 0.25 of a share of Common Stock (consisting of at issuance
an aggregate of 1,322,486 warrants, adjusted to an aggregate of
1,633,466 as of March 31, 2012); and (iii) 0.0155 of a share of
Common Stock (an aggregate of 164,418 shares). Each Preferred
Offering Unit was priced at $0.945 and total gross and net proceeds
received by the Company were $10,000,000 and $8,876,700,
respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Dividends on the Preferred Shares accrue at a rate of 7% per annum
and are payable monthly in arrears. The Company is required to
redeem 1/27 of the Preferred Shares monthly. Monthly dividend and
principal payments began on March 21, 2011 and continue on the 19th
of each month thereafter with the final payment due on May 20,
2013. Payments can be made in cash or, upon notification to the
holders, in shares of Company common stock, provided certain
conditions are satisfied or holders of Preferred Shares agree to
waive the conditions for that payment period. As of March 31, 2012,
the Company had issued 6,388,885 shares of Company common stock in
payment of monthly dividends and principal, including required
advanced payments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company may pre-pay the outstanding balance of the Preferred
Shares in full or in part (in increments of no less than
$1,000,000) at 110% of the then outstanding balance with notice of
not less than thirty days and adequate opportunity to convert. If
the Company chooses to pre-pay, the outstanding balance must be
paid in cash and the premium may be paid in cash or shares of
Company common stock. An aggregate of $2,500,000 of the proceeds
from the Preferred Offering was placed in escrow for a maximum of
2.5 years as security for the Company&#x2019;s obligations relative
to the Preferred Shares, and is included in other assets.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Upon issuance, the Preferred Shares were convertible at an initial
conversion price of $2.0004. The conversion price is subject to
certain weighted average adjustments upon the occurrence of
specific events, including stock dividends, stock splits,
combinations and reclassifications of the Company&#x2019;s common
stock and if (with certain exceptions) the Company issues or sells
any additional shares of common stock or common stock equivalents
at a price per share less than the conversion price then in effect,
or without consideration. As of March 31, 2012, the conversion
price had been adjusted to $1.36.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The characteristics of the Series E Preferred Stock require that
this instrument be treated as mezzanine equity. The Company
bifurcated the fair value of the embedded conversion options and
redemption options from the preferred stock since the conversion
options and certain redemption options were determined to not be
clearly and closely related to the Series E Preferred Stock and
recorded the fair value of the embedded conversion and redemption
options as long-term derivative liabilities. The Company also
recorded the fair value of the warrants as a long-term derivative
liability. The fair value of the preferred stock (net of issuance
costs and discounts), the embedded derivatives, and warrant
derivative were approximately $4,182,500, $315,300 and $71,900,
respectively, as of March 31, 2012. The Company will report changes
in the fair value of the embedded derivatives and warrant
derivative in earnings within other income (expense), net. For the
three months ended March 31, 2012, the Company recorded a decrease
in the fair value of the embedded derivatives of approximately
$76,500 and a decrease in the warrant derivative of approximately
$10,800.</p>
</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_PreferredStockTextBlock">
        <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 terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock.</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><nobr>us-gaap_PreferredStockTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <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>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E25AE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
        <td class="nump">$ 22,056,768<span></span></td>
        <td class="nump">$ 19,590,958<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_CostOfRevenue', window );">Cost of revenues</a></td>
        <td class="nump">16,321,520<span></span></td>
        <td class="nump">14,276,501<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_GrossProfit', window );">Gross profit</a></td>
        <td class="nump">5,735,248<span></span></td>
        <td class="nump">5,314,457<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_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
        <td class="nump">2,714,507<span></span></td>
        <td class="nump">2,755,192<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_SellingGeneralAndAdministrativeExpense', window );">Selling, general, and administrative</a></td>
        <td class="nump">9,452,200<span></span></td>
        <td class="nump">9,634,895<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_OperatingExpenses', window );">Operating Expenses</a></td>
        <td class="nump">12,166,707<span></span></td>
        <td class="nump">12,390,087<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_OperatingIncomeLoss', window );">Operating loss</a></td>
        <td class="num">(6,431,459)<span></span></td>
        <td class="num">(7,075,630)<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_NonoperatingIncomeExpenseAbstract', window );"><strong>Other income (expense):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_OtherNonoperatingIncomeExpense', window );">Other income (expense), net</a></td>
        <td class="nump">166,703<span></span></td>
        <td class="num">(250,437)<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">(1,096,133)<span></span></td>
        <td class="num">(852,243)<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 );">Nonoperating Income (Expense), Total</a></td>
        <td class="num">(929,430)<span></span></td>
        <td class="num">(1,102,680)<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Loss from continuing operations before provision for income taxes and noncontrolling interests</a></td>
        <td class="num">(7,360,889)<span></span></td>
        <td class="num">(8,178,310)<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_IncomeTaxExpenseBenefit', window );">Provision for income taxes</a></td>
        <td class="nump">122,261<span></span></td>
        <td class="nump">592,648<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_IncomeLossFromContinuingOperations', window );">Net loss from continuing operations</a></td>
        <td class="num">(7,483,150)<span></span></td>
        <td class="num">(8,770,958)<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_IncomeLossFromDiscontinuedOperationsNetOfTax', window );">Loss from discontinued operations - net</a></td>
        <td class="num">(1,723,718)<span></span></td>
        <td class="num">(928,800)<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_ProfitLoss', window );">Net loss</a></td>
        <td class="num">(9,206,868)<span></span></td>
        <td class="num">(9,699,758)<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_NetIncomeLossAttributableToNoncontrollingInterest', window );">Less - net income attributable to noncontrolling interests</a></td>
        <td class="nump">141,265<span></span></td>
        <td class="nump">473,233<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 attributable to NeoStem, Inc.</a></td>
        <td class="num">(9,348,133)<span></span></td>
        <td class="num">(10,172,991)<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_PreferredStockDividendsIncomeStatementImpact', window );">Preferred dividends</a></td>
        <td class="nump">107,844<span></span></td>
        <td class="nump">186,633<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_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net loss attributable to NeoStem, Inc. common shareholders</a></td>
        <td class="num">$ (9,455,977)<span></span></td>
        <td class="num">$ (10,359,624)<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_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>Basic and diluted (loss) per share attributable to:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare', window );">Continuing operations</a></td>
        <td class="num">$ (0.07)<span></span></td>
        <td class="num">$ (0.12)<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_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare', window );">Discontinued operations</a></td>
        <td class="num">$ (0.02)<span></span></td>
        <td class="num">$ (0.01)<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 );">NeoStem, Inc. common shareholders</a></td>
        <td class="num">$ (0.08)<span></span></td>
        <td class="num">$ (0.14)<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_nbs_WeightedAverageNumberBasicDilutedSharesOutstanding', window );">Weighted average common shares outstanding</a></td>
        <td class="nump">111,806,949<span></span></td>
        <td class="nump">73,654,165<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nbs_WeightedAverageNumberBasicDilutedSharesOutstanding">
        <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>Weighted Average Number of Shares Outstanding where Basic and Diluted are the same and reported as a single 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><nobr>nbs_WeightedAverageNumberBasicDilutedSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nbs_</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>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
        <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 cost of goods produced and sold and services rendered 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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 2<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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><nobr>us-gaap_CostOfRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_EarningsPerShareBasicAndDiluted">
        <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 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>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>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_EarningsPerShareBasicAndDilutedAbstract">
        <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><nobr>us-gaap_EarningsPerShareBasicAndDilutedAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_GrossProfit">
        <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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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><nobr>us-gaap_GrossProfit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_IncomeLossFromContinuingOperations">
        <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>This element represents the income or loss from continuing operations attributable to the parent which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4613673-111683<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 28<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph b(1)<br><br> -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.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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><nobr>us-gaap_IncomeLossFromContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <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 operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph h<br><br> -Subparagraph 1(i)<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<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><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare">
        <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 net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.</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><nobr>us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>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_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <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>This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph c<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 15<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<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><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare">
        <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 income (loss) derived from discontinued operations during the period, net of related tax effect, per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.</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><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>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_IncomeTaxExpenseBenefit">
        <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 sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph a, b<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<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><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
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        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cost of borrowed funds accounted for as interest that was charged against earnings 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Chapter V<br><br> -Section 563c.102<br><br> -Paragraph 9<br><br> -Subsection II<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<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><nobr>us-gaap_InterestExpense</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<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><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921930&amp;loc=SL4573702-111684<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591551-111686<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<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><nobr>us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated 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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 9<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1377-109256<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><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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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            <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><nobr>us-gaap_NonoperatingIncomeExpenseAbstract</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</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><nobr>us-gaap_OperatingExpenses</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>duration</td>
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          <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>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</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>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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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><nobr>us-gaap_OtherNonoperatingIncomeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</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>The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders.</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><nobr>us-gaap_PreferredStockDividendsIncomeStatementImpact</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <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>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <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 consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921930&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569616-111683<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><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
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      <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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph g<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 2<br><br> -Paragraph 12, 13<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 86<br><br> -Paragraph 11, 12<br><br> -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.<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><nobr>us-gaap_ResearchAndDevelopmentExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <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>Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.</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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 1<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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><nobr>us-gaap_Revenues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
        <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 costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</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> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 4<br><br> -Paragraph 5A<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 30<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386349&amp;loc=d3e3636-108311<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><nobr>us-gaap_SellingGeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></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>duration</td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Inventories<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_InventoryDisclosureTextBlock', window );">Inventories</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 5 &#x2013; Inventories</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Inventories consisted of the following (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">March 31,
2012</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">December 31,
2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 60%; text-align: left">Raw materials and
supplies</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 16%; text-align: right">6,864.9</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 16%; text-align: right">2,974.8</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Work in process</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">5,037.9</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">5,086.4</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Finished
goods</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
6,079.5</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
9,092.2</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 2.5pt">Total
inventory</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
17,982.3</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
17,153.4</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<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> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 3<br><br> -Section A<br><br> -Paragraph 9<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Cash and Cash Equivalents<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_CashAndCashEquivalentsDisclosureTextBlock', window );">Cash and Cash Equivalents</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 4 &#x2013; Cash and Cash Equivalents</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<font style="color: black">Cash and cash equivalents include
short-term, highly liquid, investments with maturities of ninety
days or less when purchased. As of March 31, 2012, and December 31,
2011, the Company had approximately $764,700 and $791,100,
respectively in bank deposits covered by the Federal Deposit
Insurance Corporation. As of March 31, 2012 and December 31, 2011,
cash and short-term investments held by Erye, our 51%-owned foreign
subsidiary, that are not available to fund domestic operations
unless repatriated were $</font>14,766,600 <font style="color: black">and $8,707,500, respectively.</font></p>
</div><span></span></td>
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          <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 cash and cash equivalent footnotes,  which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) 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. Generally, only investments maturing within three months from the date of acquisition qualify.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9, 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 6.H.3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13728-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section H<br><br> -Subsection 3<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Related Party Transactions<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
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<b><u>Note 16 &#x2013; Related Party Transactions</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
At March 31, 2012 and December 31, 2011, Erye owed EET, the 49%
shareholder of Erye, approximately $21,293,100 and $20,862,700,
respectively, which represents dividends paid and loaned back to
Erye. At March 31, 2012 and December 31, 2011 the interest rate on
this loan was 6.831% and 6.56% , respectively. In June 2011 Erye
paid EET approximately $875,100 consisting of the net of the
following: $1,115,000 of unpaid accrued interest at June 30, 2011,
approximately $408,700 repayment of a non interest bearing loan due
in 2011 and recovery of cash advances to EET of approximately
$648,600. In December 2011 Erye paid EET approximately $125,100 of
unpaid accrued interest with bank draft due in June 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Pursuant to the terms and conditions of the October 2009 Erye Joint
Venture Agreement, dividend distributions to EET and the
Company&#x2019;s subsidiary will be made in proportion to their
respective ownership interests in Erye; provided, however, that for
the three-year period commencing on the first day of the first
fiscal quarter after the Joint Venture Agreement became effective
distributions are made as follows: for undistributed profits
generated subsequent to the acquisition date: (i) the 49% of
undistributed profits (after tax) of the joint venture due EET will
be distributed to EET and lent back to Erye to help finance costs
in connection with its construction of and relocation to a new
facility (to be repaid gradually after construction is completed);
and (ii) of the net profit (after tax) of the joint venture due the
Company, 45% will be provided to Erye as part of the new facility
construction fund and will be characterized as additional paid-in
capital for the Company&#x2019;s 51% interest in Erye, and 6% will
be distributed to the Company. For undistributed profits generated
prior to the acquisition date: (i) the 49% of undistributed profits
(after tax) of the joint venture due EET will be distributed to EET
and lent back to Erye to help finance costs in connection with its
construction of and relocation to a new facility (to be repaid
gradually after construction is completed); and (ii) of the net
profit (after tax) of the joint venture due the Company, 51% will
be provided to Erye as part of the new facility construction fund
and will be characterized as additional paid-in capital for the
Company&#x2019;s 51% interest in Erye. It was contemplated by the
Joint Venture Agreement that the construction would continue for
three years. As such, 45% of the dividend we would be entitled to
by reason of our 51% ownership would remain in Erye through 2012 to
complete the construction while EET would loan back their dividend
during the same period at a prevailing bank interest rate. Upon a
liquidity event of Erye, as contemplated in the joint venture
agreement, the Company will be entitled to the return of its
dividend reinvestments to the extent of the proceeds generated by
the liquidity event. Repayment of such loans from EET would occur
gradually after the construction is completed. In January 2011, a
dividend totaling approximately $13,671,100 based on earnings for
Fiscal Year 2009 was declared and approximately $6,698,800 was
distributed to EET and lent back to Erye and approximately
$6,972,300 due the Company was reinvested and re-characterized as
additional paid-in capital in the business. In April 2011, a
dividend totaling $10,259,700 based on earnings for Fiscal Year
2010 was declared and approximately $5,027,300 was distributed to
EET and lent back to Erye, and approximately $5,232,400 due the
Company was reinvested and re-characterized as additional paid-in
capital in the business. A 10% withholding tax was required on
dividends payable to the Company. As a result, Erye withheld
approximately $1,220,500 in taxes related to the Company&#x2019;s
Fiscal Year 2009 and 2010 dividend amounts, and such amount has
been paid to the local Chinese tax authorities as of December 31,
2011.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Effective March 10, 2011, Matthew Henninger entered into a
consulting agreement with PCT, pursuant to which Mr. Henninger was
engaged for a three month term to serve as an advisor to PCT with
regard to the development of the &#x201C;Family Plan,&#x201D; a
multi-generational stem cell collection and storage service. The
agreement was subsequently amended and extended with the approval
of the Audit Committee through December 31, 2011. The term was
further extended to March 31, 2012 with the approval of the Audit
Committee, in connection with which Mr. Henninger was granted an
option to purchase 75,000 shares of NeoStem Common Stock under the
2009 Plan at $0.52 per share (Black Scholes value $20,696) vesting
over the term of the extension, $10,000 per month for a three month
period and continued insurance reimbursement. Mr. Henninger is in
an exclusive relationship with the CEO of NeoStem.</p>
</div><span></span></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 entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 3A<br><br> -Section 04<br><br> -Paragraph b<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 1-4<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph k<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<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><nobr>us-gaap_RelatedPartyTransactionsDisclosureTextBlock</nobr></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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<DOCUMENT>
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<SEQUENCE>32
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Shareholders' Equity<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_StockholdersEquityNoteDisclosureTextBlock', window );">Shareholders' Equity</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 12 &#x2013; Shareholders&#x2019; Equity</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>&#xA0;</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Common Stock</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company raised an aggregate of approximately $2.25 million in a
private placement consummated in February 2012 pursuant to which
three entities acquired an aggregate of 3,465,404 shares of Common
Stock.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In March 2012, the Company completed an underwritten offering of
15,000,000 units at a purchase price of $0.40 per unit, with each
unit consisting of one share of Common Stock and a five year
warrant to purchase one share of Common Stock at an exercise price
of $0.51 per share (the &#x201C;Offering&#x201D;). The Company sold
securities in the Offering under the Company&#x2019;s previously
filed shelf registration statement on Form S-3 (333-173855), which
was declared effective by the Securities and Exchange Commission on
June 13, 2011. The Company received gross proceeds of $6,000,000,
prior to deducting underwriting discounts and offering expenses
payable by the Company, for net proceeds of approximately
$5,297,000. In April 2012, the underwriters in the Offering
exercised their over-allotment option for an additional 2,000,000
units. The Company received additional gross proceeds of $800,000,
prior to deducting underwriting discounts, for net proceeds of
approximately $744,000.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Warrants</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company has issued common stock purchase warrants from time to
time to investors in private placements and public offerings, and
to certain vendors, underwriters, placement agents and consultants
of the Company. A total of 52,695,366 shares of common stock are
reserved for issuance upon exercise of outstanding warrants as of
March 31, 2012 at prices ranging from $0.51 to $7.00 and expiring
through October 2018.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
During the three months ended March 31, 2012 and 2011, the Company
issued warrants for services as follows ($ in thousands, except
share data):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="width: 56%; text-align: left; padding-bottom: 2.5pt">Number of
Common Stock Purchase Warrants Issued</td>
<td style="width: 2%; padding-bottom: 2.5pt">&#xA0;</td>
<td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right">
125,000</td>
<td style="width: 1%; padding-bottom: 2.5pt; text-align: left">
&#xA0;</td>
<td style="width: 2%; padding-bottom: 2.5pt">&#xA0;</td>
<td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right">
270,000</td>
<td style="width: 1%; padding-bottom: 2.5pt; text-align: left">
&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 2.5pt">Value of Common
Stock Purchase Warrants Issued</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
50.6</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
280.9</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The weighted average estimated fair value of warrants issued for
services in the three months ended March 31, 2012 was $0.41. The
fair value of warrants at the date of grant was estimated using the
Black-Scholes option pricing model. The expected volatility is
based upon historical volatility of the Company&#x2019;s stock. The
expected term is based upon the contractual term of the
warrants.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The range of assumptions used in calculating the fair values of
warrants issued for services during the three months ended March
31, 2012 and 2011 was as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse">
<tr>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" colspan="3" style="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center">
Three Months Ended March 31,</td>
</tr>
<tr>
<td nowrap="nowrap" style="width: 60%; vertical-align: bottom; text-autospace: none">
&#xA0;</td>
<td nowrap="nowrap" style="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
2012</td>
<td nowrap="nowrap" style="width: 2%; vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
2011</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" colspan="2" style="text-autospace: none">
Expected term (in years)</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">5</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">3 to 5</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">Expected
volatility</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
82%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
82% - 86%</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" colspan="2" style="vertical-align: bottom; text-autospace: none">Expected dividend
yield</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0%</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">Risk-free interest
rate</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0.88%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
1.29% - 2.24%</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Activity related to warrants outstanding was as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">
Number&#xA0;of&#xA0;Shares</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Exercise&#xA0;Price</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Remaining&#xA0;Contractual<br />
Term&#xA0;(years)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">
Aggregate&#xA0;Intrinsic<br />
Value</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="width: 24%">Balance at December 31,
2011</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">37,389,825</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">2.35</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Granted</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">15,305,541</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">0.52</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td>Exercised</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Expired</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 1pt">Cancelled</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Balance at March 31, 2012</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
52,695,366</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1.82</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
4.01</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
-</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
At March 31, 2012, the outstanding warrants by range of exercise
prices were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Warrants Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Warrants Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Range of</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Prices</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 0.51 - $&#xA0; 1.45</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">26,388,500</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">0.90</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">10,855,500</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.2</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.44</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 1.46 - $&#xA0; 2.10</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8,114,176</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.72</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8,114,176</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.72</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 2.11 - $&#xA0; 2.53</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">13,032,512</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2.50</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">13,032,512</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2.50</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 2.54 - $&#xA0; 5.99</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2,929,928</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.2</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.73</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2,929,928</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.2</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">3.73</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="padding-bottom: 1pt; text-align: center">
<font style="font-size: 8pt">$&#xA0; 6.00 - $&#xA0;
7.00</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">2,230,250</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">3.1</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">6.51</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">1,230,250</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">0.9</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">6.11</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: right; width: 18%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">52,695,366</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">4.0</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1.82</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">36,162,366</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">3.6</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">2.23</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company&#x2019;s results include share-based compensation
expense of approximately $12,500 and $172,800 for the three months
ended March 31, 2012 and 2011, respectively. The total fair value
of shares vested for warrants issued for services during the three
months ended March 31, 2012 was approximately $17,800. As of March
31, 2012, there was approximately $56,700 of total unrecognized
service cost related to unvested warrants of which approximately
$56,700 is related to warrants that vest over a weighted average
life of 1.0 years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Options</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company&#x2019;s results include share-based compensation
expense of approximately $1,751,200 and $1,130,300 for the three
months ended March 31, 2012 and 2011, respectively. Options vesting
on the accomplishment of business milestones will not be recognized
for compensation purposes until such milestones are deemed probable
of accomplishment. At March 31, 2012 there were options to purchase
404,928 shares outstanding that will vest upon the accomplishment
of business milestones and will be accounted for as an operating
expense when such business milestones are deemed probable of
accomplishment.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The weighted average estimated fair value of stock options granted
in the three months ended March 31, 2012 was $0.36. The fair value
of options at the date of grant was estimated using the
Black-Scholes option pricing model. The expected volatility is
based upon historical volatility of the Company&#x2019;s stock. The
expected term is based upon observation of actual time elapsed
between date of grant and exercise of options for all
employees.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The range of assumptions used in calculating the fair values of
options granted during the three months ended March 31, 2012 and
2011 was as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, Serif; width: 65%; border-collapse: collapse">
<tr>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" colspan="3" style="border-bottom: windowtext 1pt solid; vertical-align: top; text-autospace: none; text-align: center">
Three Months Ended March 31,</td>
</tr>
<tr>
<td nowrap="nowrap" style="width: 60%; vertical-align: bottom; text-autospace: none">
&#xA0;</td>
<td nowrap="nowrap" style="width: 2%; vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
2012</td>
<td nowrap="nowrap" style="width: 2%; vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="width: 18%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-autospace: none; text-align: center">
2011</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" colspan="2" style="text-autospace: none">
Expected term (in years)</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">3 to 10</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">&#xA0;</td>
<td nowrap="nowrap" style="text-autospace: none; text-align: center">2 to 6</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">Expected
volatility</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
82% - 83%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
82% - 85%</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" colspan="2" style="vertical-align: bottom; text-autospace: none">Expected dividend
yield</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0%</td>
</tr>
<tr style="background-color: White">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
&#xA0;</td>
</tr>
<tr style="background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">Risk-free interest
rate</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none">&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0.02% - 2.00%</td>
<td nowrap="nowrap" style="vertical-align: top; text-autospace: none; text-align: center">
&#xA0;</td>
<td nowrap="nowrap" style="vertical-align: bottom; text-autospace: none; text-align: center">
0.80% - 2.53%</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
Activity related to stock options outstanding under the U.S. Equity
Plan was as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Number&#xA0;of&#xA0;Shares</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Exercise&#xA0;Price</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Remaining&#xA0;Contractual<br />
Term&#xA0;(years)</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Aggregate&#xA0;Intrinsic&#xA0;Value</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="width: 24%">Balance at December 31,
2011</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">15,043,505</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">1.68</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Granted</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">4,075,452</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">0.53</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td>Exercised</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Expired</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 1pt">Cancelled</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(11,000</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
0.57</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Balance at March 31, 2012</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
19,107,957</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1.44</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
7.5</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
-</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
At March 31, 2012, the outstanding options under the U.S. Equity
Plan by range of exercise prices were as follows:&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Options Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Options Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Range of</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Prices</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 0.52 - $&#xA0;&#xA0;&#xA0;
0.71</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">5,188,052</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">0.56</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,630,990</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">0.54</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 0.72 - $&#xA0;&#xA0;&#xA0;
1.50</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2,879,100</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.46</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,126,232</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.44</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 1.51 - $&#xA0;&#xA0;&#xA0;
1.80</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">6,629,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.71</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4,877,252</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.71</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 1.81 - $&#xA0;&#xA0;&#xA0;
2.00</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2,874,255</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.91</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2,705,994</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">4.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.91</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="padding-bottom: 1pt; text-align: center">
<font style="font-size: 8pt">$&#xA0; 2.01 - $&#xA0;
15.00</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">1,537,550</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">6.8</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">2.29</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">1,430,883</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">6.7</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">2.30</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: right; width: 18%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">19,107,957</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">7.5</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1.44</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">11,771,351</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">6.9</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1.64</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Activity related to stock options outstanding under the Non U.S.
Plan was as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Number&#xA0;of&#xA0;Shares</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Exercise&#xA0;Price</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Weighted&#xA0;Average<br />
Remaining&#xA0;Contractual<br />
Term</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Aggregate&#xA0;Intrinsic&#xA0;Value</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td nowrap="nowrap" style="width: 24%">Balance at December 31,
2011</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">2,100,000</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">1.95</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 16%; text-align: right">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Granted</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">195,000</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">0.52</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td>Exercised</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Expired</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 1pt">Cancelled</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
&#xA0;</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Balance at March 31, 2012</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
2,295,000</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1.83</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
8.12</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
-</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
At March 31, 2012, the outstanding options under the Non U.S. Plan
by range of exercise prices were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Options Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Options Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="color: red"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="color: red"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="color: red"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Range of</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Remaining</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center">
<font style="font-size: 8pt">Weighted Average</font></td>
<td nowrap="nowrap"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Prices</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Outstanding</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Exercisable</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Contractual Life (years)</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td nowrap="nowrap" style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 0.52 - $&#xA0; 1.42</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">295,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">9.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">0.83</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">145,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">9.8</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">0.52</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 1.43 - $&#xA0; 1.71</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">600,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.65</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">200,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.65</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 1.72 - $&#xA0; 2.08</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">350,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.74</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">175,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1.74</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">$&#xA0; 2.09&#xA0;&#xA0; $&#xA0; 2.22</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">650,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.8</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2.16</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">300,000</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">2.16</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td colspan="2" style="padding-bottom: 1pt; text-align: center">
<font style="font-size: 8pt">$&#xA0; 2.23 - $&#xA0;
2.36</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">400,000</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">8.2</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">2.36</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">400,000</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">8.2</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">2.36</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: right; width: 18%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">2,295,000</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">8.1</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1.83</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1,220,000</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">8.2</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; width: 2%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right; width: 18%">
<font style="font-size: 8pt">1.89</font></td>
<td style="padding-bottom: 2.5pt; text-align: left; width: 1%">
<font style="font-size: 8pt">&#xA0;</font></td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The total fair value of shares vested during the three months ended
March 31, 2012 and 2011 was approximately $1,650,300 and $378,800,
respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
As of March 31, 2012, there was approximately $3,837,800 of total
unrecognized compensation costs related to unvested stock option
awards of which approximately $3,829,400 is related to stock
options that vest over a weighted average life of 1.83 years. The
remaining balance of unrecognized compensation costs of $8,400 is
related to stock options that vest based on the accomplishment of
business milestones which expense begins to be recognized when such
milestones become probable of being achieved.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Restricted Stock</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
During the three months ended March 31, 2012 and 2011, the Company
issued restricted stock for services as follows ($ in thousands,
except share data):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 56%; text-align: left; padding-bottom: 2.5pt">
Number of Restricted Stock Issued</td>
<td style="width: 2%; padding-bottom: 2.5pt">&#xA0;</td>
<td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right">
189,814</td>
<td style="width: 1%; padding-bottom: 2.5pt; text-align: left">
&#xA0;</td>
<td style="width: 2%; padding-bottom: 2.5pt">&#xA0;</td>
<td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="width: 18%; border-bottom: Black 2.5pt double; text-align: right">
550,320</td>
<td style="width: 1%; padding-bottom: 2.5pt; text-align: left">
&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt">Value of Restricted Stock
Issued</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
91.2</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
819.3</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The weighted average estimated fair value of restricted stock
issued for services in the three months ended March 31, 2011 was
$0.48. The fair value of the restricted stock was determined using
the Company&#x2019;s closing stock price on the date of issuance.
The vesting terms of restricted stock issuances are generally
within one year. The Company&#x2019;s results include share-based
compensation expense of approximately $663,900 and $691,600 for the
three months ended March 31, 2012 and 2011, respectively. As of
March 31, 2012, there was approximately $88,500 of unrecognized
service cost related to unvested restricted stock.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><i>Shares Remaining Under Equity Plans</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
The number of remaining shares authorized to be issued under the
various equity plans at March 31, 2012 are as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">U.S. Equity
Plan</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Non-U.S.
Plan</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 56%; text-align: left">Shares Authorized for
Issuance under 2003 Equity Plan</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 18%; text-align: right">2,500,000</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 18%; text-align: right">-</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Shares Authorized for Issuance under
2009 Equity Plan</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">23,750,000</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Shares Authorized
for Issuance under Non-U.S. Plan</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
5,700,000</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">26,250,000</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">5,700,000</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Outstanding Options - U.S. Equity
Plan</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(19,107,957</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Exercised Options</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(97,500</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Outstanding Options - Non-U.S.
Plan</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(2,295,000</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1pt">Restricted stock
or equity grants issued under Equity Plans</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(4,092,577</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(885,000</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 2.5pt">Total common
shares remaining to be issued under the Equity Plans</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
2,951,966</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
2,520,000</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><i>Share-Based Compensation</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
The following table summarizes the components of share-based
compensation expense in the Consolidated Statements of Income for
the three months ended March 31, 2012 and 2011 (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 56%">Cost of revenues</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">83.9</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 2%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">12.5</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Research and development</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">161.3</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">260.1</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Selling, general,
and administrative</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
2,223.4</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
1,638.8</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
2,468.6</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
1,911.4</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
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        <tr>
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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 shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 15<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph d<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 1<br><br> -Section B<br><br> -Paragraph 7, 11A<br><br> -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.<br><br><br><br>Reference 20: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 21: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 22: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 23: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Goodwill and Other Intangible Assets<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 8&#xA0;&#x2013;&#xA0;Goodwill and Other Intangible
Assets</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The changes in the carrying amount of goodwill, by reportable
segment during 2012 were as follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Cell Therapy
-<br />
United States</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">
Pharmaceutical<br />
Manufacturing -<br />
China</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Total</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 49%">Balance as of December 31, 2011</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">11,117.8</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">8,495.7</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">19,613.5</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Foreign currency
exchange rate changes</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
53.0</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
53.0</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt">Balance as of March 31, 2012</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
11,117.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
8,548.7</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
19,666.5</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
As of March 31, 2012 and December 31, 2011, the Company&#x2019;s
intangible assets and related accumulated amortization consisted of
the following (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt; padding-left: 0pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="11" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">March 31, 2012</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="10" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2011</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1pt"></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-bottom: 1pt; padding-left: 0pt">
<font style="font-size: 8pt">Useful Life</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Gross</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Accumulated<br />
Amortization</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Net</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Gross</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Accumulated<br />
Amortization</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Net</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 21%; text-align: left"><font style="font-size: 8pt">Customer list</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 12%; text-align: center; padding-left: 0pt">
<font style="font-size: 8pt">10 Years</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">19,488.4</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">(4,588.1</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">14,900.3</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">19,373.8</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">(4,076.1</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="width: 1%"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">15,297.7</font></td>
<td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><font style="font-size: 8pt">Manufacturing technology</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-left: 0pt"><font style="font-size: 8pt">10 Years</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8,810.3</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(1,595.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7,214.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">8,779.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(1,368.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">7,411.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td><font style="font-size: 8pt">Tradename</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-left: 0pt"><font style="font-size: 8pt">10 Years</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,825.5</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(343.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,481.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,819.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(296.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,522.1</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><font style="font-size: 8pt">In
process R&amp;D</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-left: 0pt"><font style="font-size: 8pt">Indefinite</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">11,201.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">-</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">11,201.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">11,190.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">-</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">11,190.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left"><font style="font-size: 8pt">Standard
operating procedures</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-left: 0pt"><font style="font-size: 8pt">10 Years</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,111.8</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(268.7</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">843.1</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">1,104.9</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(239.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">865.5</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><font style="font-size: 8pt">VSEL
patent rights</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-left: 0pt"><font style="font-size: 8pt">19 Years</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">669.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(149.6</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">519.4</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">669.0</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(140.8</font></td>
<td style="text-align: left"><font style="font-size: 8pt">)</font></td>
<td><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: right"><font style="font-size: 8pt">528.2</font></td>
<td style="text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">Patents</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="text-align: center; padding-bottom: 1pt; padding-left: 0pt">
<font style="font-size: 8pt">8 Years</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">205.5</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">(92.5</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">113.0</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">204.3</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">(86.8</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: left">
<font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 1pt solid; text-align: right">
<font style="font-size: 8pt">117.5</font></td>
<td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 2.5pt"><font style="font-size: 8pt">Total Intangible Assets</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt; padding-left: 0pt"></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">43,312.1</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">(7,038.2</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">36,273.9</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">43,141.3</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">(6,208.9</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td>
<td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#xA0;</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
<font style="font-size: 8pt">$</font></td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
<font style="font-size: 8pt">36,932.4</font></td>
<td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#xA0;</font></td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
Total intangible amortization expense was classified in the
operating expense categories for the periods included below as
follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 66%">Cost of revenue</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">248.1</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">341.0</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Research and development</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">13.9</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">13.7</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt">Selling, general
and administrative</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
533.2</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
521.7</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Total</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
795.2</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
876.4</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
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          <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 aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final.  May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905597&amp;loc=d3e13816-109267<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16265-109275<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 42, 43, 44, 45, 46, 47<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16373-109275<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905597&amp;loc=d3e13854-109267<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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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Loss Per Share<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_EarningsPerShareTextBlock', window );">Loss Per Share</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 6 &#x2013; Loss Per Share</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Basic loss per share is based on the weighted effect of all common
shares issued and outstanding, and is calculated by dividing net
loss attributable to common shareholders by the weighted average
shares outstanding during the period. Diluted loss per share, which
is calculated by dividing net loss attributable to common
shareholders by the weighted average number of common shares used
in the basic loss per share calculation plus the number of common
shares that would be issued assuming conversion of all potentially
dilutive securities outstanding, is not presented as such
potentially dilutive securities are anti-dilutive in all periods
presented. For the three months ended March 31, 2012 and 2011, the
Company incurred net losses and therefore no common stock
equivalents were utilized in the calculation of loss per share. At
March 31, 2012 and 2011, the Company excluded the following
potentially dilutive securities:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 66%; text-align: left">Stock Options</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 14%; text-align: right">21,402,957</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 14%; text-align: right">15,080,095</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Warrants</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">52,695,366</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">25,129,066</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Series E Preferred Stock, Common stock
equivalents</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">4,034,536</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">5,149,889</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Restricted Shares</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">401,167</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">186,666</td>
<td style="text-align: left">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
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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 earnings per share.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945512&amp;loc=d3e4984-109258<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1278-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&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;">
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<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurements<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_FairValueDisclosuresTextBlock', window );">Fair Value Measurements</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 7 &#x2013; Fair Value Measurements</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Fair value of financial assets and liabilities that are being
measured and reported are defined as the exchange price that would
be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants in the principal
market at the measurement date (exit price). The Company is
required to classify fair value measurements in one of the
following categories:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Level 1 inputs which are defined as quoted prices (unadjusted) in
active markets for identical assets or liabilities that the
reporting entity has the ability to access at the measurement
date.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Level 2 inputs which are defined as inputs other than quoted prices
included within Level 1 that are observable for the assets or
liabilities, either directly or indirectly.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Level 3 inputs are defined as unobservable inputs for the assets or
liabilities. Financial assets and liabilities are classified based
on the lowest level of input that is significant to the fair value
measurement. The Company&#x2019;s assessment of the significance of
a particular input to the fair value measurement requires judgment,
and may affect the valuation of the fair value of assets and
liabilities and their placement within the fair value hierarchy
levels.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company determined the fair value of funds invested in short
term investments, which are considered trading securities, to be
level 1 inputs measured by quoted prices of the securities in
active markets. The short term investments are included within
prepaids and other current assets on the balance sheet. The Company
determined the fair value of funds invested in money market funds
to be level 1. The Company determined the fair value of the
embedded derivative liabilities and warrant derivative liabilities
to be level 3 inputs. These inputs require material subjectivity
because value is derived through the use of a lattice model that
values the derivatives based on probability weighted discounted
cash flows. The following table sets forth by level within the fair
value hierarchy the Company&#x2019;s financial assets and
liabilities that were accounted for at fair value on a recurring
basis as of March 31, 2012, and December 31, 2011 (in
thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="10" style="text-align: center; border-bottom: Black 1pt solid">March 31,
2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Fair Value
Measurements Using Fair Value Hierarchy</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 1</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 2</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 3</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 49%; text-align: left">Money market
investments</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">2,497.6</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">-</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">-</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Short term investments</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">0.6</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Embedded derivative liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">315.3</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Warrant derivative liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">71.9</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Contingent consideration</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">3,130.0</td>
<td style="text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="10" style="text-align: center; border-bottom: Black 1pt solid">December 31,
2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">Fair Value
Measurements Using Fair Value Hierarchy</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 1</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 2</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Level 3</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 49%; text-align: left">Money market
investments</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">2,497.4</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">-</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">-</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Short term investments</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">0.6</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Embedded derivative liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">391.7</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Warrant derivative liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">82.7</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Contingent consideration</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">-</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">3,130.0</td>
<td style="text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The fair value measurement of the contingent consideration
obligations is determined using Level 3 inputs. The fair value of
contingent consideration obligations is based on a discounted cash
flow model using a probability-weighted income approach. The
measurement is based upon unobservable inputs supported by little
or no market activity based on our own assumptions and experience.
The value of our contingent consideration is valued using a
discount rate of 30%. We base the timing to complete the
development and approval of this product on the current development
stage of the product and the inherent difficulties and
uncertainties in developing a product candidate, such as obtaining
U.S. Food and Drug Administration (FDA) and other regulatory
approvals. In determining the probability of regulatory approval
and commercial success, we utilize data regarding similar milestone
events from several sources, including industry studies and our own
experience. These fair value measurements represent Level 3
measurements as they are based on significant inputs not observable
in the market. Significant judgment is employed in determining the
appropriateness of these assumptions as of the acquisition date and
for each subsequent period. Accordingly, changes in assumptions
could have a material impact on the amount of contingent
consideration expense we record in any given period. Changes in the
fair value of the contingent consideration obligations are recorded
in our consolidated statement of operations. Contingent
consideration was recognized on October 17, 2011 in connection with
the Amorcyte merger (see Note 3). There were no changes in
contingent consideration fair value as of March 31, 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
For those financial instruments with significant Level 3 inputs,
the following table summarizes the activity for the three months
ended March 31, 2012 by type of instrument (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 82%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td colspan="6" style="text-align: center">Three Months Ended</td>
<td>&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">March 31,
2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Embedded
Derivatives</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Warrants</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 66%; text-align: left">Beginning liability
balance</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">391.7</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">82.7</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1pt">Change in fair
value recorded in earnings</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(76.4</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(10.8</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt">Ending liability balance</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
315.3</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
71.9</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Some of the Company&#x2019;s financial instruments are not measured
at fair value on a recurring basis, but are recorded at amounts
that approximate fair value due to their liquid or short-term
nature, such as cash and cash equivalents, restricted cash,
accounts receivable, accounts payable, notes payable and bank
loans.</p>
</div><span></span></td>
      </tr>
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            <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 fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19296-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 17-22, 27, 28<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15C, 15D<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13504-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -Subparagraph a-d<br><br> -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.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44A, 44B<br><br> -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.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19207-110258<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 3, 10, 14, 15<br><br> -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.<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15B<br><br> -Subparagraph a, b<br><br> -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.<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32, 33, 34<br><br> -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.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <head>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Accrued Liabilities<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
<b><u>Note 9 &#x2013; Accrued Liabilities</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Accrued liabilities are as follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">March 31,
2012</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td nowrap="nowrap" style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1pt solid">December 31,
2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 66%; text-align: left">VAT and other taxes</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">1,020.5</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">705.2</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Customer security deposits</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">445.6</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">444.4</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Salaries, employee benefits and
related taxes</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">595.4</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">365.7</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1pt">Other</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
1,368.8</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
1,280.7</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
3,430.3</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
2,796.0</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><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> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 24<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                    <td><strong> Balance Type:</strong></td>
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<DOCUMENT>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Segment Information<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_SegmentReportingDisclosureTextBlock', window );">Segment Information</a></td>
        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 14 &#x2013; Segment Information</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company operates in two reportable segments: (i) Cell
Therapy&#xA0;&#x2014;&#xA0;United States; and (ii) Pharmaceutical
Manufacturing&#xA0;&#x2014;China. Effective March 31, 2012, the
Company no longer operated in the Regenerative Medicine &#x2013;
China reportable segment, which is now reported in discontinued
operations (see Note 15). The Company&#x2019;s operating businesses
are organized based on the nature of markets and customers. The
Company&#x2019;s CEO, as chief operating decision maker, evaluates
the results of operations along these reporting segments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">
The Company&#x2019;s financial information broken down by reportable
segment was as follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="6" style="text-align: center; border-bottom: Black 1pt solid">Three Months
Ended March 31,</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom">
<td>&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="font-weight: bold">Revenues</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 58%; text-align: left; padding-left: 9.35pt">
Pharmaceutical Manufacturing - China (products)</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">18,284.0</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">18,141.9</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">Cell
Therapy - United States (services)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
3,772.8</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
1,449.1</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt; padding-left: 9.35pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
22,056.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
19,591.0</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="font-weight: bold; text-align: left">Income (loss) from
operations</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9.35pt">Pharmaceutical
Manufacturing - China</td>
<td>&#xA0;</td>
<td style="text-align: left">$</td>
<td style="text-align: right">1,110.9</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">$</td>
<td style="text-align: right">2,119.5</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-left: 9.35pt">Cell Therapy -
United States</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(3,065.6</td>
<td style="text-align: left">)</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">(3,776.0</td>
<td style="text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">
Corporate office</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(4,476.8</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
(5,419.1</td>
<td style="padding-bottom: 1pt; text-align: left">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt; padding-left: 9.35pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
(6,431.5</td>
<td style="padding-bottom: 2.5pt; text-align: left">)</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
(7,075.6</td>
<td style="padding-bottom: 2.5pt; text-align: left">)</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="font-weight: bold; padding-bottom: 1pt">Total
assets</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">March 31,
2012</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">December 31,
2011</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 58%; text-align: left; padding-left: 9.35pt">
Pharmaceutical Manufacturing - China</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">116,405.5</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 18%; text-align: right">106,284.8</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-left: 9.35pt">Cell Therapy -
United States</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">41,347.1</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">40,653.1</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left; padding-left: 9.35pt">Corporate
office</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">9,531.7</td>
<td style="text-align: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">6,596.4</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1pt; padding-left: 9.35pt">
Assets related to discontinued operations</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
-</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 1pt">&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: left">
&#xA0;</td>
<td style="border-bottom: Black 1pt solid; text-align: right">
1,793.5</td>
<td style="padding-bottom: 1pt; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="padding-bottom: 2.5pt; padding-left: 9.35pt">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
167,284.3</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
<td style="padding-bottom: 2.5pt">&#xA0;</td>
<td style="border-bottom: Black 2.5pt double; text-align: left">
$</td>
<td style="border-bottom: Black 2.5pt double; text-align: right">
155,327.8</td>
<td style="padding-bottom: 2.5pt; text-align: left">&#xA0;</td>
</tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
<font style="color: black">The Cell Therapy &#x2013; United States
revenues include approximately $</font>1,106,900 <font style="color: black">and $</font>489,300 <font style="color: black">for
stem cell related services reimbursed expenses for the three months
ended March 31, 2012 and 2011, respectively.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Concentration of Risks</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
For the three months ended March 31, 2012, three major suppliers
provided approximately 38.6% of Erye&#x2019;s purchases of raw
materials with each supplier individually accounting for
approximately 14.3%, 12.6% and 11.7%, respectively. As of March 31,
2012, the total accounts payable to the three major suppliers
represented 37.7% of the total accounts payable balance.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Approximately 85% of Erye&#x2019;s revenues are derived from
products that use penicillin or cephalosporin as the key active
ingredient. These products are manufactured on two of the eight
production lines in Erye&#x2019;s manufacturing facility. Any issues
or incidents that might disrupt the manufacturing of products
requiring penicillin or cephalosporin could have a material impact
on the operating results of Erye. Any interruption or cessation in
production could impact market sales.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
In March 2011, the National Development and Reform Commission in
China issued insurance reimbursement price cuts which impacted two
of Erye products. The Company recognizes that there will be
continuous pressure on Erye product pricing as a result of such
actions.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<i>&#xA0;</i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Statutory Reserves</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Pursuant to laws applicable to entities incorporated in the PRC,
the PRC subsidiaries are prohibited from distributing their
statutory capital and are required to appropriate from PRC GAAP
profit after tax to other non-distributable reserve funds. These
reserve funds include one or more of the following: (i) a general
reserve, (ii) an enterprise expansion fund and (iii) a staff bonus
and welfare fund. Subject to certain cumulative limits (i.e., 50%
of the registered capital of the relevant company), the general
reserve fund requires annual appropriation at 10% of after tax
profit (as determined under accounting principles generally
accepted in the PRC at each year-end); the appropriation to the
other funds are at the discretion of the subsidiaries.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The general reserve is used to offset extraordinary losses. Subject
to approval by the relevant authorities, a subsidiary may, upon a
resolution passed by the shareholders, convert the general reserve
into registered capital provided that the remaining general reserve
after the conversion shall be at least 25% of the registered
capital of the subsidiary before the capital increase as a result
of the conversion. The staff welfare and bonus reserve is used for
the collective welfare of the employees of the subsidiary. The
enterprise expansion reserve is for the expansion of the
subsidiary&#x2019;s operations and can also be converted to
registered capital upon a resolution passed by the shareholders
subject to approval by the relevant authorities. These reserves
represent appropriations of the retained earnings determined in
accordance with Chinese law, and are not distributable as cash
dividends to the parent company, NeoStem. Statutory reserves are
$2,478,000 and $2,488,000 as of March 31, 2012 and December 31,
2011, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Relevant PRC statutory laws and regulations permit payment of
dividends by the Company&#x2019;s PRC subsidiaries only out of their
accumulated earnings, if any, as determined in accordance with PRC
accounting standards and regulations. As a result of these PRC laws
and regulations, the Company&#x2019;s PRC subsidiaries are
restricted in their ability to transfer a portion of their net
assets either in the form of dividends, loans or advances. The
restricted amount was $186,000 at March 31, 2012 and $185,000 at
December 31, 2011.</p>
</div><span></span></td>
      </tr>
    </table>
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          <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 reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8595-108599<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8538-108599<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 33<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8971-108599<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 34<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8981-108599<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 29<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8864-108599<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8380-108599<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 35<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8984-108599<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 41<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9038-108599<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 32<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8933-108599<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 131<br><br> -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.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8906-108599<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8844-108599<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 40<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9031-108599<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 42<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9054-108599<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 31<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8924-108599<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EILAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net loss</a></td>
        <td class="num">$ (9,206,868)<span></span></td>
        <td class="num">$ (9,699,758)<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_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive income (loss):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<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_OtherComprehensiveIncomeOtherNetOfTax', window );">Foreign currency translation elimination on discontinued operations</a></td>
        <td class="num">(169,993)<span></span></td>
        <td class="text">&#xA0;<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_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax', window );">Foreign currency translation</a></td>
        <td class="nump">331,841<span></span></td>
        <td class="nump">1,517,669<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_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease', window );">Total other comprehensive income</a></td>
        <td class="nump">161,848<span></span></td>
        <td class="nump">1,517,669<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_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive loss</a></td>
        <td class="num">(9,045,020)<span></span></td>
        <td class="num">(8,182,089)<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_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income attributable to noncontrolling interests</a></td>
        <td class="nump">158,005<span></span></td>
        <td class="nump">1,216,900<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_ComprehensiveIncomeNetOfTax', window );">Comprehensive net loss attributable to NeoStem, Inc. common shareholders</a></td>
        <td class="num">$ (9,203,025)<span></span></td>
        <td class="num">$ (9,398,989)<span></span></td>
      </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e540-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 8, 9, 10, 11, 12, 13, 14<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508144<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e557-108580<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4613674-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569643-111683<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity for the period being reported, net of tax. If an entity's functional currency is a foreign currency, translation adjustments result from the process of translating that entity's financial statements into the reporting currency. Includes gain (loss) on foreign currency forward exchange contracts. Includes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. Includes the gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) and that have been designated and have qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign 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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 17<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 45<br><br> -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.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32157-110900<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32022-110900<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents Other Comprehensive Income or Loss, Net of Tax, for the period.  Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 22, 23, 24, 25<br><br> -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.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e599-108580<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -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.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in other comprehensive income during the reporting period, net of tax, for an item that is not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591551-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -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.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -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.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921930&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6922042&amp;loc=SL4591552-111686<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -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.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4569616-111683<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Acquisitions<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</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_BusinessCombinationDisclosureTextBlock', window );">Acquisitions</a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 3 &#x2013; Acquisitions</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><i>Amorcyte Acquisition</i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b>&#xA0;</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
On October 17, 2011 (the &#x201C;Closing Date&#x201D;), Amo
Acquisition Company I, Inc. (&#x201C;Subco&#x201D;), a newly-formed
wholly-owned subsidiary of NeoStem, Inc. (&#x201C;NeoStem&#x201D; or
the &#x201C;Company&#x201D;), merged (the &#x201C;Amorcyte
Merger&#x201D;) with and into Amorcyte, Inc., a Delaware corporation
(&#x201C;Amorcyte&#x201D;), in accordance with the terms of the
Agreement and Plan of Merger, dated as of July 13, 2011 (the
&#x201C;Amorcyte Merger Agreement&#x201D;), among NeoStem, Amorcyte,
Subco, and Amo Acquisition Company II, LLC (&#x201C;Subco
II&#x201D;). As a result of the consummation of the Amorcyte Merger,
Amorcyte is now a wholly-owned subsidiary of NeoStem. Amorcyte is a
development stage cell therapy company focusing on novel treatments
for cardiovascular disease.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The preliminary fair value of assets acquired and liabilities
assumed on October 17, 2011 is as follows (in thousands):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="width: 83%">Cash</td>
<td style="width: 1%">&#xA0;</td>
<td style="width: 1%; text-align: left">$</td>
<td style="width: 14%; text-align: right">92.9</td>
<td style="width: 1%; text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Prepaid Expenses</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">178.2</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">In Process R&amp;D</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">9,400.0</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Goodwill</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">4,104.5</td>
<td style="text-align: left">&#xA0;</td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204,255,204)">
<td style="text-align: left">Accounts Payable &amp; Accrued
Liabilities</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
<td style="text-align: right">1,177.1</td>
<td style="text-align: left">&#xA0;</td>
</tr>
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<td style="text-align: left">Deferred Tax Liability</td>
<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
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<td>&#xA0;</td>
<td style="text-align: left">&#xA0;</td>
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&#xA0;</p>
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The total cost of the acquisition, which is still preliminary, has
been allocated to the assets acquired and the liabilities assumed
based upon their estimated fair values at the date of the
acquisition. The final allocation is pending the receipt of this
valuation work and the completion of the Company&#x2019;s internal
review, which is expected during fiscal 2012.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</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> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51, 52<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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        <td class="text"><div style="font: 10pt Times New Roman, Times, Serif">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<b><u>Note 13 &#x2013; Income Taxes</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Tax Reform Act of 1986 enacted a complex set of rules limiting
the utilization of net operating loss carryforwards
(&#x201C;NOL&#x201D;) to offset future taxable income following a
corporate ownership change. The Company&#x2019;s ability to utilize
its NOL carryforwards is limited following a change in ownership in
excess of fifty percentage points during any three-year period.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
Since the year 2000, the Company has had several changes in
ownership which has resulted in a limitation on the Company&#x2019;s
ability to apply net operating losses to future taxable income. As
of December 31, 2011 the Company has lost $25,994,800 or $8,838,200
in tax benefits, of net operating losses applicable to Federal
income taxes which expired due to these limitations and expiration
of net operating loss carryforwards. At December 31, 2011, the
Company had net operating loss carryforwards of approximately
$47,427,300 applicable to future Federal income taxes. The tax loss
carryforwards are subject to annual limitations and expire at
various dates through 2030. The Company has recorded a full
valuation allowance against its net deferred tax asset because it
is more likely than not that such deferred tax assets will be
realized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
&#xA0;&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">
The Company has provided deferred income taxes for the estimated
U.S. federal and foreign income tax effects of earnings of
subsidiaries expected to be distributed to the Company. Deferred
income taxes have been provided on approximately $5,324,300 of
undistributed earnings of certain foreign subsidiaries as of
December 31, 2011 as such amounts are not considered to be
permanently reinvested.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</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> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 136, 172<br><br> -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.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 43, 44, 45, 46, 47, 48, 49<br><br> -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.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
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