Note 13 - Restructuring Credits

6 Months Ended

Jun. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

13. Restructuring Credits

In December 2012, the Company announced the closure of its tissue engineering facility in Abano Terme, Italy due to the Company’s inability to meet strict regulatory standards established by the European Medicines Agency (“EMA”) for Advanced Therapy Medicinal Products, which became effective on January 1, 2013. The restructuring plan involved a workforce reduction as well as associated asset abandonments. The Company recorded restructuring and impairment charges in the fourth quarter of 2012 of approximately $2.5 million. Of the total restructuring and impairment charges related to the tissue engineering operation, approximately $1.2 million was related to the non-cash termination and related impairment of an IPR&D project, $0.3 million was related to the disposal of property and equipment, and $0.1 million was related to the disposal of inventory. We completed the restructuring plan and related activities in 2013. Certain previously impaired and written-off equipment was sold, resulting in a restructuring credit of $111,178 and $246,785  in the three and six-month periods ended June 30, 2013, respectively.

The following table summarizes restructuring accrual activity for the six-period ended June 30, 2014:

	Restructuring Accrual
	Employee Severance and Related Benefits			Activity Termination and Facility Closure Costs			Total
December 31, 2013	$	21,709		$	2,929		$	24,638
Cash Proceeds, Disbursements		(6,827	)		(1,424	)		(8,251	)
Foreign Exchange Impact		(159	)		(20	)		(179	)
June 30, 2014	$	14,723		$	1,485		$	16,208