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Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities
12 Months Ended
Dec. 31, 2013
Supplemental Cash Flow Elements [Abstract]  
Supplemental disclosure of cash flow and non-cash investing and financing activities
Supplemental Disclosure of Cash Flow and Non-Cash Investing and Financing Activities
Selected cash payments, receipts, and noncash activities are as follows:
 
Twelve Months Ended
December 31,
 
2013
 
2012
 
2011
Cash paid for interest
$
36,202

 
$
13,322

 
$
15,456

Income taxes paid
61,129

 

 

Purchases of equipment financed through capital leases
355,144

 
84,650

 

Stock issuance of 167,086 shares in lieu of Directors' fees

 
184,653

 

Deferred financing costs
27,236

 
20,449

 

Convertible Secured Promissory Notes issued in conjunction with the acquisition of Surgical Biologics

 

 
1,250,000

Warrants issued for placement fees associated with Senior Secured Promissory Notes

 

 
14,885

Beneficial conversion related to Note Payable with related party

 

 
80,000

Beneficial conversion related to convertible debt issued with regard to acquisition of Surgical Biologics

 

 
437,500

Beneficial conversion related to Line of Credit with related party

 
514,456

 

Stock issuance of 5,250,000 shares in conjunction with acquisition of Surgical Biologics

 

 
7,087,500

Stock issuance in connection of Earn-Out Liability of 1,174, 915 shares for 2013 and 2,632,576 shares for 2012
5,792,330

 
3,185,223

 

Stock issuance in exchange for convertible debt of 5,272,004 shares in 2013 and 406,664 shares in 2011
5,272,004

 

 
406,663

Stock issuance of 1,403,630 shares for payment of Line of Credit with related party

 
1,403,630

 

Stock issuance of 216,085 shares for exercise of cashless warrants

 
216

 

Stock issuance of 893,267 shares in payment of Convertible
 
 
 
 
 
Secured Promissory Notes related to acquisition of Surgical Biologics

 
893,267

 
2,278,052

Tenant improvement incentive
996,866

 

 

Legal fees paid for public offering
101,694

 

 

Legal fees related to public offering included in accounts payable
30,100

 

 

Legal fees related to public offering included in accrued expenses
62,396