Exit Activities

12 Months Ended

Dec. 31, 2011

Exit Activities [Abstract]

Exit Activities

8. Exit Activities

In September 2005, the Company relocated its headquarters from Boston to Hopkinton, Massachusetts. The Company amended its lease dated January 28, 2002 with Brentwood Properties, Inc. (the “Landlord”) for the property located on Newbury Street in Boston. In May 2011, the landlord agreed to the termination of the Company’s lease obligation on Newbury Street which was scheduled to expire on May 31, 2012. In consideration for the early termination of the lease, the Company waived all rights under the Lease Agreement to the security deposit and accrued interest of approximately $89,200.

As a result of the Company’s relocation, an expense had been recorded for the cost associated with the exit activity at its fair value in the period in which the liability was incurred. The liability recorded was calculated by discounting the estimated cash flows for the two sublease agreements and the Lease Agreement using an estimated credit-adjusted risk-free rate of 15%. As of the early termination date, the remaining accrual balance of approximately $76,100 was written-off resulting in net expense of $13,100 included in general and administrative expense in the accompanying Consolidated Statements of Operations.

	December 31, 2010		Cash payments, net of sublease receipts		December 31, 2011
Lease Amendment	$	96,425	$	96,425	$	—
Short-term portion of lease accrual		65,922				—
Long-term portion of lease accrual	$	30,503			$	—

For the years ended December 31, 2011 and 2010, the Company recorded approximately $17,300 and $19,000, respectively of expense related to the imputed cost of the lease expense accrual included in general and administrative expense in the accompanying Consolidated Statements of Operations.