Note 16 - Restructuring Charges

12 Months Ended

Dec. 31, 2013

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

16. Restructuring

 On December 28, 2012 the Company announced the closure of its tissue engineering facility in Abano Terme, Italy due to the inability to meet strict regulatory standards, established by the EMA, which became effective January 1, 2013. As a result of the plan, the Company recorded restructuring and associated impairment charges in the fourth quarter 2012 of approximately $2.5 million. Of the total restructuring and associated impairment charges, approximately $1.6 million related to the abandonment and noncash impairment of assets. The remaining $0.9 million related to cash payments anticipated to occur primarily in 2013 and for employee termination costs.

We were completed with the restructuring plan in 2013. Settlements for employee dismissals were lower than anticipated and previously impaired and written-off assets were sold, resulting in a restructuring credit of $286,843 for the twelve months ended December 31, 2013. The carrying value of the restructuring accrual approximated fair value at December 31, 2013.

The following table summarizes restructuring accrual activity for the twelve months ended December 31, 2013:

	Restructuring Accrual
	Employee Severance and Related Benefits			Activity Termination and Facility Closure Costs			Total
December 31, 2012	$	801,453		$	132,279		$	933,732
Cash Proceeds, Disbursements		(724,064	)		(46,776	)		(770,840	)
Write Offs and Abandonments		(56,549	)		(82,691	)		(139,240	)
Foreign Exchange Impact		869			117			986
December 31, 2013	$	21,709		$	2,929		$	24,638