v2.4.0.6
Significant Accounting Policies (Tables)
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12 Months Ended |
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Significant Accounting Policies [Abstract] |
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Allocation of Depreciation to Operating Departments |
The following table shows the allocation of depreciation for the years ended December 31, 2012 and 2011, to operating departments:
| | Year Ended December 31, | | Depreciation expense included in: | | 2012 | | | 2011 | | Cost of products sold | | $ | 155,987 | | | $ | 104,950 | | Research and development | | | 120,260 | | | | 118,565 | | Selling, general and administrative | | | 189,120 | | | | 222,987 | | | | $ | 465,367 | | | $ | 446,502 | |
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Allocation of Share-based Compensation |
Share-based compensation for the years ended December 31, 2012 and 2011, was approximately $2,539,000 and $1,659,000, respectively, an increase of approximately $880,000 or 53.0%. Increased employee stock option grants reflecting management's philosophy of aligning employee compensation with investor objectives and the increase in the market price of MiMedx common stock was the primary reason for the increase in expense. The following table shows the allocation of share-based compensation for the years ended December 31, 2012 and 2011, to operating departments: | | Year Ended December 31, | | Share-based compensation included in: | | 2012 | | | 2011 | | Cost of products sold | | $ | 97,970 | | | $ | 98,366 | | Research and development | | | 289,341 | | | | 254,997 | | Selling, General and administrative | | | 2,151,410 | | | | 1,305,720 | | | | $ | 2,538,721 | | | $ | 1,659,083 | |
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Computation of basic and diluted net loss per share |
The following table sets forth the computation of basic and diluted net loss per share for the fiscal years ended December 31, 2012 and 2011: | | | | | | 2012 | | | 2011 | | Net loss | | $ | (7,662,376 | ) | | $ | (10,193,986 | ) | Denominator for basic earnings per share - weighted average shares | | | 81,646,295 | | | | 72,450,337 | | Effect of dilutive securities: Stock options and warrants outstanding and convertible debt (a) | | | — | | | | — | | Denominator for diluted earnings per share - weighted average shares adjusted for dilutive securities | | | 81,646,295 | | | | 72,450,337 | | Loss per common share - basic and diluted | | $ | (0.09 | ) | | $ | (0.14 | ) |
(a) Securities outstanding that were excluded from the computation, prior to the use of the treasury stock method, because they would have been anti-dilutive are as follows: |
Summary of antidilutive securities |
(a) Securities outstanding that were excluded from the computation, prior to the use of the treasury stock method, because they would have been anti-dilutive are as follows:
| | | | | | | Outstanding Stock Options | | | 13,614,135 | | | | 10,333,583 | | Outstanding Warrants | | | 3,129,168 | | | | 9,388,817 | | Convertible Debt, promissory notes | | | 5,313,645 | | | | 5,007,732 | | Convertible Line of Credit with Related Party | | | - | | | | 1,342,726 | | Convertible Debt, Acquisition | | | - | | | | 1,299,315 | | | | | 22,056,948 | | | | 27,372,173 | |
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- Definition
Tabular disclosure of the allocation of depreciation costs to a given line item on the income statement for the period.
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- Definition
Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-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.
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+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph A240
-Subparagraph g(1)
-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.
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64
-Subparagraph b
-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.
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 14.F)
-URI http://asc.fasb.org/extlink&oid=6793087&loc=d3e301413-122809
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