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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2014	Oct. 20, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014
Entity Registrant Name	Stereotaxis, Inc.
Entity Central Index Key	0001289340
Current Fiscal Year End Date	--12-31
Trading Symbol	stxs
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		20,462,232

Balance Sheets - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 8,724,395	$ 13,775,130
Accounts receivable, net of allowance of $599,400 and $383,077 in 2014 and 2013, respectively	7,027,781	7,558,152
Inventories	6,586,303	4,879,039
Prepaid expenses and other current assets	1,435,121	1,945,206
Total current assets	23,773,600	28,157,527
Property and equipment, net	897,321	1,184,589
Intangible assets, net	1,454,611	1,679,486
Long-term receivables		20,431
Other assets	31,580	34,363
Total assets	26,157,112	31,076,396
Current liabilities:
Current maturities of long-term debt		49,733
Accounts payable	2,505,155	3,512,339
Accrued liabilities	6,526,610	7,079,381
Deferred revenue	8,015,860	7,519,754
Warrants	3,504,908	5,644,626
Total current liabilities	20,552,533	23,805,833
Long-term debt, less current maturities	18,435,843	18,481,478
Long-term deferred revenue	974,095	491,080
Stockholders' deficit:
Preferred stock, par value $0.001; 10,000,000 shares authorized, none outstanding at 2014 and 2013
Common stock, par value $0.001; 300,000,000 shares authorized, 20,465,997 and 19,311,390 shares issued at 2014 and 2013, respectively	20,466	19,311
Additional paid in capital	445,842,292	441,888,155
Treasury stock, 4,015 shares at 2014 and 2013	(205,999)	(205,999)
Accumulated deficit	(459,462,118)	(453,403,462)
Total stockholders' deficit	(13,805,359)	(11,701,995)
Total liabilities and stockholders' deficit	$ 26,157,112	$ 31,076,396

Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Balance Sheets [Abstract]
Accounts receivable, allowance	$ 599,400	$ 383,077
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	20,465,997	19,311,390
Treasury stock, shares	4,015	4,015

Statements Of Operations - USD ($)	3 Months Ended		9 Months Ended
Statements Of Operations - USD ($)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue:
Systems	$ 2,181,088	$ 4,449,598	$ 4,669,224	$ 10,000,926
Disposables, service and accessories	6,673,013	6,371,846	20,587,084	18,962,129
Total revenue	8,854,101	10,821,444	25,256,308	28,963,055
Cost of revenue:
Systems	1,318,456	2,338,175	2,958,668	5,132,007
Disposables, service and accessories	1,019,476	1,161,449	2,983,111	3,032,150
Total cost of revenue	2,337,932	3,499,624	5,941,779	8,164,157
Gross margin	6,516,169	7,321,820	19,314,529	20,798,898
Operating expenses:
Research and development	1,214,405	1,300,287	4,030,594	4,313,590
Sales and marketing	3,717,670	4,102,968	11,445,089	13,213,528
General and administrative	2,763,667	2,987,408	9,537,043	9,688,116
Total operating expenses	7,695,742	8,390,663	25,012,726	27,215,234
Operating loss	(1,179,573)	(1,068,843)	(5,698,197)	(6,416,336)
Other income (expense)	2,034,731	(48,160,084)	2,139,718	(46,660,340)
Interest income	1,736	1,306	5,665	3,973
Interest expense	(834,224)	(7,640,821)	(2,505,842)	(11,722,679)
Net income (loss)	$ 22,670	$ (56,868,442)	$ (6,058,656)	$ (64,795,382)
Net earnings (loss) per common share:
Basic	$ 0.00	$ (4.49)	$ (0.31)	$ (6.72)
Diluted	$ 0.00	$ (4.49)	$ (0.31)	$ (6.72)
Weighted average shares used in computing net earnings (loss) per common share:
Basic	20,326,169	12,666,414	19,767,545	9,640,249
Diluted	20,518,757	12,666,414	19,767,545	9,640,249

Statements Of Cash Flows - USD ($)	9 Months Ended
Statements Of Cash Flows - USD ($)	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities
Net loss	$ (6,058,656)	$ (64,795,382)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation	334,908	705,717
Amortization of intangible assets	224,875	224,875
Amortization of deferred finance costs and debt discount	183,568	7,702,681
Share-based compensation	1,070,049	670,873
Loss on asset disposal		16,886
Adjustment of warrants and convertible debt features	(2,139,718)	46,758,917
Interest due from issuance of stock		551,296
Changes in operating assets and liabilities:
Accounts receivable	550,802	3,527,328
Inventories	(1,707,264)	360,209
Prepaid expenses and other current assets	329,300	526,672
Accounts payable	(1,007,184)	(362,872)
Accrued liabilities	(552,771)	1,477,987
Deferred revenue	979,121	(2,287,620)
Net cash used in operating activities	(7,792,970)	(4,922,433)
Cash flows from investing activities
Purchase of equipment	(47,640)
Net cash used in investing activities	(47,640)
Cash flows from financing activities
Payments of term loan		(4,000,000)
Proceeds from revolving line of credit		37,237,131
Payments of revolving line of credit		(41,490,148)
Proceeds from Healthcare Royalty Partners debt		2,500,000
Payments of Healthcare Royalty Partners debt	(95,368)	(263,192)
Proceeds from issuance of stock and warrants, net of issuance costs	2,885,243	11,547,529
Net cash provided (used) by financing activities	2,789,875	5,531,320
Net increase (decrease) in cash and cash equivalents	(5,050,735)	608,887
Cash and cash equivalents at beginning of period	13,775,130	7,777,718
Cash and cash equivalents at end of period	$ 8,724,395	$ 8,386,605

Description Of Business	9 Months Ended
Description Of Business	Sep. 30, 2014
Description Of Business [Abstract]
Description Of Business	1. Description of Business Stereotaxis designs, manufactures and markets the Epoch Solution, which is an advanced remote robotic navigation system for use in a hospital’s interventional surgical suite, or “interventional lab”, that we believe revolutionizes the treatment of arrhythmias and coronary artery disease by enabling enhanced safety, efficiency and efficacy for catheter-based, or interventional, procedures. The Epoch Solution is comprised of the Niobe ES Robotic Magnetic Navigation System (“Niobe ES system”), Odyssey Information Management Solution (“Odyssey Solution”), and the Vdrive Robotic Navigation System (“Vdrive system”). The Niobe ES system is the latest generation of the Niobe Robotic Magnetic Navigation System (“Niobe system”), which is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied magnetic fields that govern the motion of the working tip of the catheter or guidewire, resulting in improved navigation, efficient procedures and reduced x-ray exposure. In addition to the Niobe system and its components, Stereotaxis also has developed the Odyssey Solution, which consolidates all lab information enabling doctors to focus on the patient for optimal procedure efficiency. The system also features a remote viewing and recording capability called the Odyssey Cinema solution, which is an innovative solution delivering synchronized content for optimized workflow, advanced care and improved productivity. This tool includes an archiving capability that allows clinicians to store and replay entire procedures or segments of procedures. This information can be accessed from locations throughout the hospital local area network and over the global Odyssey Network providing physicians with a tool for clinical collaboration, remote consultation and training. Our Vdrive system provides navigation and stability for diagnostic and therapeutic devices designed to improve interventional procedures. The Vdrive system complements the Niobe ES system control of therapeutic catheters for fully remote procedures and enables single-operator workflow and is sold as two options, the Vdrive system and the Vdrive Duo system. In addition to the Vdrive system and the Vdrive Duo system, we also manufacture and market various disposable components which can be manipulated by these systems. We promote the full Epoch Solution in a typical hospital implementation, subject to regulatory approvals or clearances. The full Epoch Solution implementation requires a hospital to agree to an upfront capital payment and recurring payments. The upfront capital payment typically includes equipment and installation charges. The recurring payments typically include disposable costs for each procedure, equipment service costs beyond the warranty period, and software licenses. In hospitals where the full Epoch Solution has not been implemented, equipment upgrade or expansion can be implemented upon purchasing of the necessary upgrade or expansion. The core components of Stereotaxis systems have received regulatory clearance in the U.S., European Union, Canada, China, Japan and elsewhere. The V-Sono™ ICE catheter manipulator and the V-Loop™ circular catheter manipulator have received U.S. clearance, and V-CAS™ catheter advancement system has been submitted for review by the U.S. Food and Drug Administration. Since our inception, we have generated significant losses. As of September 30, 2014 we had incurred cumulative net losses of approximately $459.5 million. In May 2011, the Company introduced the Niobe ES system and as of September 30, 2014, the Company had an installed base of 118 Niobe ES systems and has received positive feedback from the physicians at these sites. Between 2011 and 2013, the Company implemented a wide ranging plan to rebalance and reduce operating expenses by 15% to 20% on an annual run rate basis. We expect to incur additional losses throughout the remainder of 2014 as we continue the development and commercialization of our products, conduct our research and development activities and advance new products into clinical development from our existing research programs and marketing initiatives. During 2014, we expect operating expenses to be generally consistent with 2013. We may be required to raise capital or pursue other financing strategies to continue our operations. Until we can generate significant cash flow from our operations, we expect to continue to fund our operations with cash resources primarily generated from the proceeds of our past and future public offerings, private sales of our equity securities and working capital and equipment financing loans. In the future, we may finance cash needs through the sale of other equity securities or non-core assets, strategic collaboration agreements, debt financings or through distribution rights. We cannot accurately predict the timing and amount of our utilization of capital, which will depend on a number of factors outside of our control. Our existing cash, cash equivalents and borrowing facilities may not be sufficient to fund our operating expenses and capital equipment requirements through the next 12 months, which would require us to obtain additional financing before that time. We cannot assure that additional financing will be available on a timely basis on terms acceptable to us or at all, or that such financing will not be dilutive to our stockholders. If adequate funds are not available to us, we could be required to delay development or commercialization of new products, to license to third parties the rights to commercialize products or technologies that we would otherwise seek to commercialize ourselves or to reduce the sales, marketing, customer support or other resources devoted to our products, any of which could have a material adverse effect on our business, financial condition and results of operations. In addition, we could be required to cease operations.

Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements of Stereotaxis, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, they include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Operating results for the nine month period ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ended December 31, 2014 or for future operating periods.

These interim financial statements and the related notes should be read in conjunction with the annual financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the Securities and Exchange Commission (SEC) on March 27, 2014.

As described in Note 10, on July 10, 2012, the Company effected a one-for-ten reverse stock split of the Company’s common stock. All information set forth in the financial statements and related notes gives effect to such reverse stock split.

Financial Instruments

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including warrants and debt conversion features. General accounting principles for fair value measurement established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). See Note 11 for additional details.

The following methods and assumptions were used by the Company in estimating its fair value disclosures for other financial instruments as of September 30, 2014 and December 31, 2013.

Cash equivalents, accounts receivable, and accounts payable have carrying values which approximate fair value due to the short maturity or the financial nature of these instruments.

Long and short-term debt fair value estimates are based on estimated borrowing rates to discount the cash flows to their present value. See Note 9 for disclosure of the fair value of debt.

Revenue and Costs of Revenue

The Company accounts for revenue using Accounting Standards Codification Topic 605-25, Multiple-Element Arrangements (“ASC 605-25”).

ASC 605-25 permits management to estimate the selling price of undelivered components of a bundled sale for which it is unable to establish vendor-specific objective evidence (“VSOE”) or third-party evidence (“TPE”). This requires management to record revenue for certain elements of a transaction even though it might not have delivered other elements of the transaction, for which it was unable to meet the requirements for establishing VSOE or TPE. The Company believes that the guidance significantly improves the reporting of these types of transactions to more closely reflect the underlying economic circumstances. This guidance also prohibits the use of the residual method for allocating revenue to the various elements of a transaction and requires that the revenue be allocated proportionally based on the relative estimated selling prices.

Under our revenue recognition policy, a portion of revenue for Niobe systems, Vdrive systems and certain Odyssey systems is recognized upon delivery, provided that title has passed, there are no uncertainties regarding acceptance, persuasive evidence of an arrangement exists, the sales price is fixed and determinable, and collection of the related receivable is reasonably assured. Revenue is recognized for other types of Odyssey systems upon completion of installation, since there are no qualified third party installers. When installation is the responsibility of the customer, revenue from system sales is recognized upon shipment since these arrangements do not include an installation element or right of return privileges. The Company does not recognize revenue in situations in which inventory remains at a Stereotaxis warehouse or in situations in which title and risk of loss have not transferred to the customer. Amounts collected prior to satisfying the above revenue recognition criteria are reflected as deferred revenue. Revenue from services and license fees, whether sold individually or as a separate unit of accounting in a multiple-deliverable arrangement, is deferred and amortized over the service or license fee period, which is typically one year. Revenue from services is derived primarily from the sale of annual product maintenance plans. We recognize revenue from disposable device sales or accessories upon shipment and establish an appropriate reserve for returns. The return reserve, which is applicable only to disposable devices, is estimated based on historical experience which is periodically reviewed and updated as necessary. In the past, changes in estimate have had only a de minimis effect on revenue recognized in the period. We believe that the estimate is not likely to change significantly in the future.

Costs of systems revenue include direct product costs, installation labor and other costs, estimated warranty costs, and initial training and product maintenance costs. These costs are recorded at the time of sale. Costs of disposable revenue include direct product costs and estimated warranty costs and are recorded at the time of sale. Cost of revenue from services and license fees are recorded when incurred.

Share-Based Compensation

The Company accounts for its grants of stock options, stock appreciation rights, restricted shares, and restricted stock units and for its employee stock purchase plan in accordance with the provisions of general accounting principles for share-based payments. These accounting principles require the determination of the fair value of the share-based compensation at the grant date and the recognition of the related expense over the period in which the share-based compensation vests.

The Company utilizes the Black-Scholes valuation model to determine the fair value of stock options and stock appreciation rights at the date of grant. The resulting compensation expense is recognized over the requisite service period, which is generally four years. Compensation expense is recognized only for those awards expected to vest, with forfeitures estimated based on the Company’s historical experience and future expectations. Restricted shares granted to employees are valued at the fair market value at the date of grant. The Company amortizes the fair market value to expense over the service period. If the shares are subject to performance objectives, the resulting compensation expense is amortized over the anticipated vesting period and is subject to adjustment based on the actual achievement of objectives.

Net Earnings (Loss) per Common Share (“EPS”)

Basic and diluted net earnings (loss) per common share are computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period.

The following table sets forth the computation of basic and diluted EPS:


	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Numerator:
Numerator for basic EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Effect of dilutive securities:		—		—		—		—
Numerator for diluted EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Denominator:
Denominator for basic EPS—weighted average shares		20,326,169		12,666,414		19,767,545		9,640,249
Effect of dilutive securities:
Restricted stock units		156,525		—		—		—
Stock options, appreciation rights and warrants		36,063		—		—		—
Denominator for diluted EPS		20,518,757		12,666,414		19,767,545		9,640,249
Basic EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)
Diluted EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)

The following potential common shares were excluded from diluted EPS for the three months ended September 30, 2014 as they were antidilutive: 500,294 stock options and stock appreciation rights, 391,775 restricted stock units, and 2,111,618 warrants.

In addition, the Company did not include any portion of unearned restricted shares, outstanding options, stock appreciation rights or warrants in the calculation of diluted loss per common share because all such securities are anti-dilutive for the three and nine months ended September 30, 2013 and the nine months ended September 30, 2014. The application of the two-class method of computing earnings per share under general accounting principles for participating securities is not applicable during these periods because the Company’s unearned restricted shares do not contractually participate in its losses.

As of September 30, 2014, the Company had 500,919 shares of common stock issuable upon the exercise of outstanding options and stock appreciation rights at a weighted average exercise price of $18.38 per share and 2,197,883 shares of common stock issuable upon the exercise of outstanding warrants at a weighted average exercise price of $6.12 per share. The Company had no unearned restricted shares outstanding for the three and nine months ended September 30, 2014.

Recently Issued Accounting Pronouncements

In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU” or “Update”) No. 2014-15, to communicate amendments to FASB Account Standards Codification Subtopic 205-40, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The ASU requires management to evaluate relevant conditions, events and certain management plans that are known or reasonably knowable as of the evaluation date when determining whether substantial doubt about an entity’s ability to continue as a going concern exists. Management will be required to make this evaluation for both annual and interim reporting periods. Management will have to make certain disclosures if it concludes that substantial doubt exists or when it plans to alleviate substantial doubt about the entity’s ability to continue as a going concern. The standard is effective for annual periods ending after December 15, 2016 and for interim reporting periods starting in the first quarter of 2017. Early adoption is permitted. We are currently evaluating the impact of adopting this accounting standard update on our financial statement disclosures.

In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which converges the FASB's and the International Accounting Standards Board's current standards on revenue recognition. The standard provides companies with a single model to use in accounting for revenue arising from contracts with customers and supersedes current revenue guidance. The standard is effective for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The standard permits companies to either apply the adoption to all periods presented, or apply the requirements in the year of adoption through a cumulative adjustment. We are currently evaluating the impact of adopting this accounting standard update on our financial statements and disclosures.

In February 2013, the FASB issued Update 2013-02, “Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income (“AOCI”). The update requires that the Company present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of AOCI based on its source and the income statement line items affected by the reclassification. The guidance is effective for interim and annual reporting periods beginning on or after December 15, 2012. As the Company has no items of other comprehensive income, the Company is not required to report accumulated other comprehensive income.

Inventory

9 Months Ended

Sep. 30, 2014

Inventory [Abstract]

Inventory

3. Inventory

Inventory consists of the following:


	September 30, 2014	December 31, 2013

Raw materials	$ 2,966,762	$ 3,141,111
Work in process	444,550	364,779
Finished goods	3,222,377	1,453,362
Reserve for obsolescence	(47,386)	(80,213)
Total inventory	$ 6,586,303	$ 4,879,039

Prepaid Expenses And Other Current Assets

9 Months Ended

Sep. 30, 2014

Prepaid Expenses And Other Current Assets [Abstract]

Prepaid Expenses And Other Current Assets

4. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:



	September 30, 2014	December 31, 2013

Prepaid expenses	$ 445,408	$ 591,305
Deferred financing costs	549,419	622,949
Deposits	422,975	658,253
Other	17,319	72,699
Total prepaid expenses and other current assets	$ 1,435,121	$ 1,945,206

Property And Equipment

9 Months Ended

Sep. 30, 2014

Property And Equipment [Abstract]

Property And Equipment

5. Property and Equipment

Property and equipment consist of the following:


	September 30,	December 31,
	2014	2013

Equipment	$ 8,190,640	$ 8,143,000
Equipment held for lease	303,412	303,412
Leasehold improvements	2,328,381	2,328,381
	10,822,433	10,774,793
Less: Accumulated depreciation	(9,925,112)	(9,590,204)
Net property and equipment	$ 897,321	$ 1,184,589

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2014
Intangible Assets [Abstract]
Intangible Assets	6. Intangible Assets As of September 30, 2014, the Company had total intangible assets of $3,665,000. Accumulated amortization at September 30, 2014, was $2,210,389.

Accrued Liabilities

9 Months Ended

Sep. 30, 2014

Accrued Liabilities [Abstract]

Accrued Liabilities

7. Accrued Liabilities

Accrued liabilities consist of the following:


	September 30,	December 31,
	2014	2013

Accrued salaries, bonus, and benefits	$ 2,776,557	$ 3,565,385
Accrued rent	1,470,126	1,499,942
Accrued licenses and maintenance fees	752,623	302,384
Accrued interest	494,880	498,058
Accrued warranties	379,794	501,212
Accrued taxes	352,106	360,475
Other	300,524	351,925
Total accrued liabilities	$ 6,526,610	$ 7,079,381

Our primary company facilities are located in St. Louis, Missouri where we currently lease approximately 52,000 square feet of office and 12,000 square feet of demonstration and assembly space. In the third quarter of 2013, the Company modified the existing lease agreement to terminate approximately 13,000 square feet of unimproved space. The costs associated with the termination were $515,138 and were accrued as a rent liability as of September 30, 2013. As of September 30, 2014, the remaining accrued costs associated with the termination were $429,123.

Deferred Revenue

9 Months Ended

Sep. 30, 2014

Deferred Revenue [Abstract]

Deferred Revenue

8. Deferred Revenue

Deferred revenue consists of the following:


	September 30,	December 31,
	2014	2013

Product shipped, revenue deferred	$ 1,044,638	$ 1,368,007
Customer deposits	1,102,870	421,544
Deferred service and license fees	6,842,447	6,221,283
	8,989,955	8,010,834
Less: Long-term deferred revenue	(974,095)	(491,080)
Total current deferred revenue	$ 8,015,860	$ 7,519,754

Long-Term Debt And Credit Facilities

9 Months Ended

Sep. 30, 2014

Long-Term Debt And Credit Facilities [Abstract]

Long-Term Debt And Credit Facilities

9. Long-Term Debt and Credit Facilities

Debt outstanding consists of the following:


	September 30, 2014		December 31, 2013
	Carrying	Estimated	Carrying	Estimated
	Amount	Fair Value	Amount	Fair Value

Healthcare Royalty Partners debt	18,435,843	18,435,843	18,531,211	18,531,211
Total debt	18,435,843	18,435,843	18,531,211	18,531,211
Less current maturities	—	—	(49,733)	(49,733)
Total long term debt	$ 18,435,843	$ 18,435,843	$ 18,481,478	$ 18,481,478

In accordance with general accounting principles for fair value measurement, the Company’s debt and credit facilities were measured at fair value as of September 30, 2014 and December 31, 2013. Long-term debt fair value estimates are based on estimated borrowing rates to discount the cash flows to their present value (Level 3).

Revolving line of credit

On March 29, 2013, the Company amended its agreement with its primary lender, Silicon Valley Bank, to extend the maturity date of the $13 million working capital line of credit from March 31, 2013 to June 30, 2013. The Company also received from stockholders, who at the time were affiliates of two current and former members of our board of directors (the “Lenders”) and were considered to be related parties, an extension of their commitment to provide $3 million in loan guarantees until June 30, 2013. As a result of this extension, the Company issued the Lenders warrants to purchase 113,636 shares of common stock at $1.98 per share. Under the facility the Company was required to maintain a minimum “tangible net worth” and liquidity ratio as defined in the agreement. Interest on the facility accrued at the rate of prime plus 0.5% subject to a floor of 6% for the amount under guarantee and prime plus 1.75% subject to a floor of 7% for the remaining amounts.

On June 28, 2013, the Company amended its agreement with its primary lender. The amendment extended the maturity date of the working capital line of credit from June 30, 2013 to July 31, 2013, and decreased the amount of available advances from $13 million to $6 million. In addition, the primary lender waived the testing of the tangible net worth and liquidity ratio financial covenants under the Amended Loan Agreement for the period ended June 30, 2013. The Company and the Lenders also agreed to extend until July 31, 2013 the $3 million guarantee. As a result of this extension, the Company issued the Lenders warrants to purchase 48,387 shares of common stock at $1.55 per share.

On July 31, 2013, the Company amended its agreement with its primary lender. The amendment extended the maturity date of the working capital line of credit from July 31, 2013 to August 31, 2013. In addition, the primary lender waived the testing of the liquidity ratio financial covenant under the Amended Loan Agreement for the period ended July 31, 2013. The Company and the Lenders also agreed to extend until August 31, 2013 the $3 million guarantee. As a result of this extension, the Company issued the Lenders warrants to purchase 14,313 shares of common stock at $5.24 per share.

On August 30, 2013, the Company amended its agreement with its primary lender. The amendment extended the maturity date of the working capital line of credit from August 31, 2013 to March 31, 2014. In addition, the Company and the primary lender agreed to a reduction in the revolving credit line from $6.0 million to $3.0 million, the elimination of the $3.0 million sublimit guaranteed by the Lenders, and release of the guarantees by the Lenders in favor of the primary lender. The amendment eliminated the prepayment premium for the prepayment of the term loan and modified the financial covenants to (a) eliminate the minimum tangible net worth covenant, (b) substitute in lieu thereof an EBITDA test, requiring the Company to maintain a minimum EBITDA of no less than (no worse than) (i) negative $4.0 million for the trailing three-month period ending September 30, 2013 and (ii) negative $3.0 million for the trailing three-month period ending December 31, 2013, in each case tested quarterly on a trailing three month basis, and (c) revise the liquidity ratio covenant to require the Company to maintain a liquidity ratio of greater than 2:1, excluding certain short term advances from the calculation.

On March 28, 2014, the Company amended its agreement with its primary lender. The amendment extended the maturity date of the working capital line of credit from March 31, 2014 to March 31, 2015. In addition, the Company and the primary lender agreed to an increase in the revolving credit line from $3.0 million to $10.0 million and modified the financial covenants to (a) eliminate the EBITDA test, (b) substitute in lieu thereof a minimum tangible net worth test, requiring the Company to maintain a minimum tangible net worth of not less than (no worse than) negative $21 million, with such minimum requirement subject to increase under certain circumstances as described in the agreement, and (c) revise the liquidity ratio covenant to require the Company to maintain a liquidity ratio of greater than 1.75:1.00, excluding certain short term advances from the calculation.

As of September 30, 2014, the Company had no outstanding debt under the revolving line of credit. Draws on the line of credit are made based on the borrowing capacity one week in arrears. As of September 30, 2014 the Company had a borrowing capacity of $6.1 million based on the Company’s collateralized assets. As such, the Company had the ability to borrow $6.1 million under the revolving line of credit at September 30, 2014.

Term note

Under the 2010 amendment to the loan agreement, the Company entered into a $10 million term loan maturing on December 31, 2013, with $2 million of principal due in 2011 and $4 million of principal due in each of 2012 and 2013. Interest on the term loan accrued at the rate of the primary lender’s prime plus 3.5% until September 2011, at which point it was adjusted to the lender’s prime plus 5.5%. Under this agreement, the Company provided its primary lender with warrants to purchase 11,111 shares of common stock. The warrants are exercisable at $36.00 per share, beginning on December 17, 2010 and expiring on December 17, 2015. The fair value of these warrants of $228,332, calculated using the Black-Scholes method, was deferred and amortized to interest expense ratably over the life of the term loan. The term note was paid in full in September 2013.

Healthcare Royalty Partners Debt

In November 2011, the Company entered into a loan agreement with Healthcare Royalty Partners. Under the agreement the Company borrowed from Healthcare Royalty Partners $15 million. The Company was permitted to borrow up to an additional $5 million in the aggregate based on the achievement by the Company of certain milestones related to Niobe system sales in 2012. On August 8, 2012, the Company borrowed an additional $2.5 million based upon achievement of a milestone related to Niobe system sales for the three months ended June 30, 2012. On January 31, 2013, the Company borrowed an additional $2.5 million based upon achievement of a milestone related to Niobe system sales for the twelve months ended December 31, 2012. The loan will be repaid through, and secured by, royalties payable to the Company under its Development, Alliance and Supply Agreement with Biosense Webster, Inc. The Biosense Agreement relates to the development and distribution of magnetically enabled catheters used with Stereotaxis' Niobe system in cardiac ablation procedures. Under the terms of the Agreement, Healthcare Royalty Partners will be entitled to receive 100% of all royalties due to the Company under the Biosense Agreement until the loan is repaid. The loan is a full recourse loan, matures on December 31, 2018, and bears interest at an annual rate of 16% payable quarterly with royalties received under the Biosense Agreement. If the payments received by the Company under the Biosense Agreement are insufficient to pay all amounts of interest due on the loan, then such deficiency will increase the outstanding principal amount on the loan. After the loan obligation is repaid, the royalties under the Biosense Agreement will again be paid to the Company. The loan is also secured by certain assets and intellectual property of the Company. The Agreement also contains customary affirmative and negative covenants. The use of payments due to the Company under the Biosense Agreement was approved by our primary lender under the Amended Loan Agreement described above.

Subordinated Convertible Debentures

In May 2012, the Company entered into a securities purchase agreement with certain institutional investors whereby the Company agreed to sell an aggregate of approximately $8.5 million in aggregate principal amount of unsecured, subordinated, convertible debentures (the “Debentures”), which became convertible into shares of the Company’s common stock at a conversion price of $3.361 per share (or approximately 2.5 million shares in the aggregate), on July 10, 2012, the date that the Company received shareholder approval for the transaction. The purchasers of the Debentures also received six-year warrants to purchase an aggregate of approximately 2.5 million shares of the Company’s common stock at an exercise price of $3.361 per share (“Convert Warrants”). The Debentures bore interest at 8% per year and were to mature on May 7, 2014. In addition, the Company had the ability to issue shares of its common stock in lieu of cash interest payments under certain circumstances, and following the registration of the shares for resale, the Company issued shares in lieu of cash interest payments.

The Company recorded the Debentures on the balance sheet net of the debt discount. The debt discount of $7.6 million was due to warrants issued in conjunction with the Debentures and the debt conversion features. Upon issuance of the Debentures, the fair value of the warrants and derivative liability were $4.1 million and $3.5 million, respectively. The debt discount was amortized over the life of the loan using the effective interest method and the warrants and derivative liability were recorded at fair value on each reporting period. Refer to Note 11 for additional discussion of the fair value of the warrants.

On August 7, 2013, holders of Convert Warrants exercised all of their Convert Warrants for an aggregate of approximately 2.5 million shares of our common stock, resulting in cash proceeds of approximately $8.5 million. In addition, holders of all of the Debentures exchanged the balance of their unconverted Debentures for an aggregate of approximately 2.7 million shares of the Company’s common stock and additional warrants (the “Exchange Warrants”) to purchase approximately 2.5 million shares, having an exercise price of $3.361 per share. On August 8, 2013, certain former holders of the Debentures exercised Exchange Warrants to purchase an aggregate of 1.4 million shares of common stock in cashless net exercises as provided for in the Exchange Warrants, which resulted in the issuance to such funds of an aggregate of 0.8 million shares of common stock, but no net proceeds to the Company. The Company is relying on the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended, based on representations to the Company made by the warrant holders.

Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

The holders of common stock are entitled to one vote for each share held and to receive dividends whenever funds are legally available and when declared by the Board of Directors subject to the prior rights of holders of all classes of stock having priority rights as dividends and the conditions of the Revolving Credit Agreement. No dividends have been declared or paid as of September 30, 2014.

Listing Transfer to NASDAQ Capital Market

On August 15, 2013, the NASDAQ Listing Qualifications Panel (the “Panel”) granted approval of the Company’s request to transfer its listing to The NASDAQ Capital Market® from The NASDAQ Global Market®. The Company’s securities began trading on the NASDAQ Capital Market effective August 19, 2013.

Reverse Stock Split

On July 10, 2012, the Company filed a Certificate of Amendment to our Amended and Restated Certificate of Incorporation to implement a one-for-ten reverse split of our common stock (the “Reverse Stock Split”). The ratio for the Reverse Stock Split was determined by our Board of Directors pursuant to the approval of the stockholders at the Company’s special meeting of stockholders held on July 10, 2012, authorizing the Board to effect a reverse stock split within a range of one-for-four to one-for-ten shares of the Company’s common stock. The Reverse Stock Split was effective as of July 10, 2012, and the Company’s common stock began trading on the NASDAQ Global Market on a post-split basis on July 11, 2012.

As a result of the Reverse Stock Split, each ten shares of the Company’s issued and outstanding common stock were automatically combined and converted into one issued and outstanding share of common stock. The Reverse Stock Split affected all issued and outstanding shares of the Company’s common stock, as well as common stock underlying stock options, stock appreciation rights, restricted stock, restricted stock units, warrants and convertible debentures outstanding immediately prior to the effectiveness of the Reverse Stock Split. The Reverse Stock Split reduced the number of shares of the Company’s common stock outstanding from approximately 78 million to 7.8 million at the time of the Reverse Stock Split. In addition, the Amendment increased the number of authorized shares of the Company’s common stock from 100 million to 300 million. The Reverse Stock Split did not alter the par value of common stock, which remained $0.001 per share, or modify any voting rights or other terms of the Company’s common stock. Unless otherwise indicated, all information set forth herein gives effect to such Reverse Stock Split.

Private Offerings of Common Stock

In May 2012, the Company entered into a Stock and Warrant Purchase Agreement with certain institutional investors whereby it agreed to sell an aggregate of approximately 2.17 million shares of the Company's common stock (the “PIPE Common Stock”) at a price of $3.361 per share, together with six-year warrants at a price of $1.25 per share to purchase an aggregate of approximately 2.17 million shares of common stock having an exercise price of $3.361 per share (the “PIPE Warrants”). Each purchaser received a PIPE Warrant to purchase one share of common stock for every share of PIPE Common Stock purchased. Net proceeds from the sale of the securities were approximately $9.1 million, after placement agent fees and other offering expenses. The Company used the funds to repay $7 million of the revolving credit facility guaranteed by the Lenders and plans to use the balance for working capital and general corporate purposes.

On August 7, 2013, venture funds affiliated with Sanderling Ventures received an aggregate of 183,478 shares of common stock based upon the cashless exercise of warrants to purchase an aggregate of 262,450 shares of common stock. These warrants were comprised of 75,758 warrants with an exercise price of $1.98 per share, 156,204 warrants with an exercise price of $3.361 per share and 30,488 warrants with an exercise price of $4.10 per share. The warrants were issued by the Company in private placements in 2012 and 2013 in connection with the extension of previously disclosed guarantees.

On August 13, 2013, venture funds affiliated with Sanderling Ventures exercised PIPE Warrants to purchase an aggregate of 650,619 shares of common stock in a cashless net exercise as provided for in the PIPE Warrants, which resulted in the issuance to such funds of an aggregate of 308,194 shares of common stock. As a result, there were no net proceeds to the Company.

On August 16, 2013, certain affiliates of Franklin Templeton exercised PIPE Warrants to purchase an aggregate of 650,618 shares of common stock for cash. The Company received an aggregate of $2,186,727 gross proceeds from the sale.

On August 16, 2013, Alafi Capital Company exercised PIPE Warrants to purchase an aggregate of 261,241 shares of common stock for cash. The Company received an aggregate of $878,031 gross proceeds from the sale.

On November 27, 2013, the Company announced the results of its previously announced offering of subscription rights to purchase shares of its common stock, par value $0.001 per share. Pursuant to the rights offering, subscription rights to purchase approximately 3.4 million shares of common stock were exercised, resulting in gross proceeds to Stereotaxis of approximately $10.2 million.

Controlled Equity Offering

In May 2014, the Company entered into a Controlled Equity OfferingSM sales agreement (the “Sales Agreement”), with Cantor Fitzgerald & Co. (“Cantor”), as agent and/or principal, pursuant to which the Company could issue and sell, from time to time, shares of its common stock having an aggregate gross sales price of up to $18.0 million. The Company will pay Cantor a commission of 3.0% of the gross proceeds from any common stock sold through the Sales Agreement.

During the three months ended September 30, 2014, the Company sold an aggregate of 161,632 shares of common stock under the Sales Agreement, at an average price of approximately $3.38 per share for gross proceeds of $546,432 and net proceeds of $530,039, after deducting Cantor’s commission and related costs. As of September 30, 2014, $14.9 million of common stock remained available to be sold under this facility, subject to certain conditions as specified in the Sales Agreement.

Stock Award Plans

The Company has various stock plans that permit the Company to provide incentives to employees and directors of the Company in the form of equity compensation. In August 2012, the Board of Directors adopted a stock incentive plan (the 2012 Stock Incentive Plan “Plan”) which was subsequently approved by the Company’s shareholders. This plan replaces the 2002 Stock Incentive Plan which expired on March 25, 2012. On June 5, 2013, the shareholders approved an amendment to the Plan, which was previously approved and adopted by the Compensation Committee of the Board of Directors of the Company in April 2013. The amendment increased the number of shares authorized for issuance under the Plan by one million shares. On June 10, 2014, the shareholders approved an amendment to the Plan, which was previously approved and adopted by the Compensation Committee of the Board of Directors of the Company on March 27, 2014. The amendment increased the number of shares authorized for issuance under the Plan by one million shares. At September 30, 2014, the Company had 1,307,300 remaining shares of the Company’s common stock to provide for current and future grants under its various equity plans.

At September 30, 2014, the total compensation cost related to options, stock appreciation rights and non-vested stock granted to employees under the Company’s stock award plans but not yet recognized was approximately $1.9 million, net of estimated forfeitures of approximately $1.7 million. This cost will be amortized over a period of up to four years over the underlying estimated service periods and will be adjusted for subsequent changes in estimated forfeitures and anticipated vesting periods.

A summary of the option and stock appreciation rights activity for the nine month period ended September 30, 2014 is as follows:


	Number of Options/SARs	Range of Exercise Price	Weighted Average Exercise Price per Share

Outstanding, December 31, 2013	188,947	$1.69 - $116.40	$ 48.38
Granted	336,850	$4.04 - $5.19	$ 4.04
Exercised	-	-	-
Forfeited	(24,878)	$1.69 - $116.40	$ 52.18
Outstanding, September 30, 2014	500,919	$1.69 - $116.40	$ 18.38

As of September 30, 2014, there were no restricted shares outstanding. A summary of the restricted share grant activity for the nine month period ended September 30, 2014 is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value per Share

Outstanding, December 31, 2013	6,600	$ 35.20
Granted	-	-
Vested	(6,600)	$ 35.20
Forfeited	-	-
Outstanding, September 30, 2014	-	$ 0.00

A summary of the restricted stock unit activity for the nine month period ended September 30, 2014 is as follows:


	Number of Restricted Shares Units	Weighted Average Grant Date Fair Value per Unit

Outstanding, December 31, 2013	588,759	$ 2.05
Granted	398,400	$ 3.97
Vested	(280,758)	$ 2.01
Forfeited	(9,087)	$ 3.63
Outstanding, September 30, 2014	697,314	$ 3.14

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Fair Value Measurements

11. Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents and warrants. General accounting principles for fair value measurement established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The three levels of the fair value hierarchy are described below:

Level 1: Values are based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or other model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Values are generated from model-based techniques that use significant assumptions not observable in the market.

The following table sets forth the Company’s assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. As required by the Fair Value Measurements and Disclosures topic of the Accounting Standards Codification, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Fair Value Measurement Using
	Total		Quoted Prices in Active Markets for Identical Instruments (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets at September 30, 2014:
Cash equivalents	$	7,747,863	7,747,863	—	—
Total assets at fair value	$	7,747,863	7,747,863	—	—
Liabilities at September 30, 2014:
Warrants issued May 10, 2012		1,207,404	—	—	1,207,404
Warrants issued August 2013		2,297,504			2,297,504
Total liabilities at fair value:	$	3,504,908	—	—	3,504,908
Assets at December 31, 2013:
Cash equivalents	$	11,995,481	11,995,481	—	—
Total assets at fair value	$	11,995,481	11,995,481	—	—
Liabilities at December 31, 2013:
Warrants issued December 29, 2008	$	16,863	—	—	16,863
Warrants issued May 10, 2012		1,915,753	—	—	1,915,753
Warrants issued August 2013		3,712,010	—	—	3,712,010
Total liabilities at fair value:	$	5,644,626	—	—	5,644,626

Level 1

The Company’s financial assets consist of cash equivalents invested in money market funds in the amount of $7,747,863 and $11,995,481 at September 30, 2014 and December 31, 2013, respectively. These assets are classified as Level 1 as described above and total interest income recorded for these investments was insignificant during both the nine month periods ended September 30, 2014, and September 30, 2013. There were no transfers in or out of Level 1 during the period ended September 30, 2014.

Level 2

The Company does not have any financial assets or liabilities classified as Level 2.

Level 3

In conjunction with its December 29, 2008 registered direct offering, the Company issued warrants to purchase 179,241 shares of the Company’s common stock that contained a provision that required a reduction of the exercise price if certain equity events occurred. Under the provisions of general accounting principles for derivatives and hedging activities and determining whether an instrument (or embedded feature) is indexed to an entity’s own stock, such a reset provision does not meet the exemptions for equity classification and as such, the Company accounts for these warrants as derivative instruments. The calculated fair value of the warrants is classified as a liability and is periodically remeasured with any changes in value recognized in “Other income (expense)” in the Statement of Operations. General accounting principles for determining whether an instrument (or embedded feature) is indexed to an entity’s own stock became effective for the Company as of January 1, 2009. Accordingly, the fair value of the warrants as of that date was reclassified from stockholders’ equity into current liabilities. This tranche of warrants issued in conjunction with the December 2008 registered direct offering were expired as of September 30, 2014.

In the Company’s May 2012 financing transaction, the Company issued subordinated convertible debentures and warrants. The optional conversion feature of the subordinated convertible debentures was classified as a derivative liability within “Warrants and derivative liabilities” on the Company’s balance sheet. The warrants issued in conjunction with the Debentures and PIPE were also considered a liability. Due to the provisions included in the warrant agreements, the warrants did not meet the exemptions for equity classification and as such, the Company accounts for these warrants as derivative instruments. The warrants and derivative liability were periodically remeasured with any changes in value recognized in “Other income (expense)” in the Statements of Operations.

Per the terms of the Debentures agreement, the Company had the ability to require each holder to convert up to 50% of the Debentures if the common stock closed above $15.00, or 100% of the Debentures if the common stock closed above $20.00 (in each case, as adjusted for stock splits, recapitalizations and similar events) during a 20 consecutive trading day period and the resale registration statement had been declared effective by the SEC and was available for the issuance of the common stock upon conversion of the Debentures. In the event of any forced conversion by the Company, the minimum amount that the Company could force the holders to convert was $2.5 million of Debentures in the aggregate. This mandatory redemption clause was classified as a derivative asset within “Prepaid and other current assets” on the Company’s balance sheet. The derivative asset was periodically remeasured with any changes in value recognized in “Other income (expense)” in the Statement of Operations.

Based on the discussion of the Debentures in Note 10, the Debentures along with their derivative liability and asset, and related warrants were extinguished in the third quarter of 2013.

The initial valuation of Exchange warrants were valued as of August 7, 2013 using the following assumptions: 1) volatility of 111%; 2) risk-free interest rate of 1.46%; and 3) a closing stock price of $8.69.

The remaining Exchange warrants expire in November 2018 and were revalued as of September 30, 2014 using the following assumptions: 1) volatility of 153.39%; 2) risk-free interest rate of 1.78%; and 3) a closing stock price of $2.32.

The remaining PIPE warrants expire in May 2018 and were revalued as of September 30, 2014 using the following assumptions: 1) volatility of 162.85%; 2) risk-free interest rate of 1.78%; and 3) a closing stock price of $2.32.

The significant unobservable input used in the fair value measurement of the Company’s warrants is volatility. Significant increases (decreases) in the volatility in isolation would result in significantly higher (lower) liability fair value measurements.

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities for the nine month period ended September 30, 2014:


	Warrants issued December 29, 2008	Warrants issued May 2012	Warrants issued August 2013	Total Liabilities
Balance at beginning of period	$ 16,863	$ 1,915,753	$ 3,712,010	$ 5,644,626
Settlements	-	-	-	-
Revaluation	(16,863)	(708,349)	(1,414,506)	(2,139,718)
Balance at end of period	$ -	$ 1,207,404	$ 2,297,504	$ 3,504,908

The Company currently does not have derivative instruments to manage its exposure to currency fluctuations or other business risks. The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. All derivative financial instruments are recognized in the balance sheet at fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Product Warranty Provisions

9 Months Ended

Sep. 30, 2014

Product Warranty Provisions [Abstract]

Product Warranty Provisions

12. Product Warranty Provisions

The Company’s standard policy is to warrant all Niobe, Odyssey, and Vdrive systems against defects in material or workmanship for one year following installation. The Company’s estimate of costs to service the warranty obligations is based on historical experience and current product performance trends. A regular review of warranty obligations is performed to determine the adequacy of the reserve and adjustments are made to the estimated warranty liability as appropriate.

Accrued warranty, which is included in other accrued liabilities, consists of the following:


	September 30, 2014		December 31, 2013
Warranty accrual, beginning of the fiscal period	$	501,212	$	653,473
Accrual adjustment for product warranty		11,885		84,562
Payments made		(133,303)		(236,823)
Warranty accrual, end of the fiscal period	$	379,794	$	501,212

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Sep. 30, 2014
Commitments And Contingencies [Abstract]
Commitments And Contingencies	13. Commitments and Contingencies The Company at times becomes a party to claims in the ordinary course of business. Management believes that the ultimate resolution of pending or threatened proceedings will not have a material effect on the financial position, results of operations or liquidity of the Company. In 2012, the Company entered into a letter of credit to support a commitment in the amount of approximately $0.1 million. This letter of credit is valid through 2015.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events None.

Summary Of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2014

Summary Of Significant Accounting Policies [Abstract]

Basis Of Presentation

Basis of Presentation

Financial Instruments

The following methods and assumptions were used by the Company in estimating its fair value disclosures for other financial instruments as of September 30, 2014 and December 31, 2013.

Cash equivalents, accounts receivable, and accounts payable have carrying values which approximate fair value due to the short maturity or the financial nature of these instruments.

Long and short-term debt fair value estimates are based on estimated borrowing rates to discount the cash flows to their present value. See Note 9 for disclosure of the fair value of debt.

Revenue And Costs Of Revenue

Revenue and Costs of Revenue

The Company accounts for revenue using Accounting Standards Codification Topic 605-25, Multiple-Element Arrangements (“ASC 605-25”).

Share-Based Compensation

Net Loss Per Common Share

Net Earnings (Loss) per Common Share (“EPS”)

Basic and diluted net earnings (loss) per common share are computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period.

The following table sets forth the computation of basic and diluted EPS:


	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Numerator:
Numerator for basic EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Effect of dilutive securities:		—		—		—		—
Numerator for diluted EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Denominator:
Denominator for basic EPS—weighted average shares		20,326,169		12,666,414		19,767,545		9,640,249
Effect of dilutive securities:
Restricted stock units		156,525		—		—		—
Stock options, appreciation rights and warrants		36,063		—		—		—
Denominator for diluted EPS		20,518,757		12,666,414		19,767,545		9,640,249
Basic EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)
Diluted EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Summary Of Significant Accounting Policies [Abstract]

Computation Of Basic And Diluted EPS


	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Numerator:
Numerator for basic EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Effect of dilutive securities:		—		—		—		—
Numerator for diluted EPS	$	22,670	$	(56,868,442)	$	(6,058,656)	$	(64,795,382)
Denominator:
Denominator for basic EPS—weighted average shares		20,326,169		12,666,414		19,767,545		9,640,249
Effect of dilutive securities:
Restricted stock units		156,525		—		—		—
Stock options, appreciation rights and warrants		36,063		—		—		—
Denominator for diluted EPS		20,518,757		12,666,414		19,767,545		9,640,249
Basic EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)
Diluted EPS	$	0.00	$	(4.49)	$	(0.31)	$	(6.72)

Inventory (Tables)

9 Months Ended

Sep. 30, 2014

Inventory [Abstract]

Schedule Of Inventory


	September 30, 2014	December 31, 2013

Raw materials	$ 2,966,762	$ 3,141,111
Work in process	444,550	364,779
Finished goods	3,222,377	1,453,362
Reserve for obsolescence	(47,386)	(80,213)
Total inventory	$ 6,586,303	$ 4,879,039

Prepaid Expenses And Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2014

Prepaid Expenses And Other Current Assets [Abstract]

Schedule Of Prepaid Expenses And Other Current Assets



	September 30, 2014	December 31, 2013

Prepaid expenses	$ 445,408	$ 591,305
Deferred financing costs	549,419	622,949
Deposits	422,975	658,253
Other	17,319	72,699
Total prepaid expenses and other current assets	$ 1,435,121	$ 1,945,206

Property And Equipment (Tables)

9 Months Ended

Sep. 30, 2014

Property And Equipment [Abstract]

Schedule Of Property And Equipment


	September 30,	December 31,
	2014	2013

Equipment	$ 8,190,640	$ 8,143,000
Equipment held for lease	303,412	303,412
Leasehold improvements	2,328,381	2,328,381
	10,822,433	10,774,793
Less: Accumulated depreciation	(9,925,112)	(9,590,204)
Net property and equipment	$ 897,321	$ 1,184,589

Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Accrued Liabilities [Abstract]

Schedule Of Accrued Liabilities


	September 30,	December 31,
	2014	2013

Accrued salaries, bonus, and benefits	$ 2,776,557	$ 3,565,385
Accrued rent	1,470,126	1,499,942
Accrued licenses and maintenance fees	752,623	302,384
Accrued interest	494,880	498,058
Accrued warranties	379,794	501,212
Accrued taxes	352,106	360,475
Other	300,524	351,925
Total accrued liabilities	$ 6,526,610	$ 7,079,381

Deferred Revenue (Tables)

9 Months Ended

Sep. 30, 2014

Deferred Revenue [Abstract]

Schedule Of Deferred Revenue


	September 30,	December 31,
	2014	2013

Product shipped, revenue deferred	$ 1,044,638	$ 1,368,007
Customer deposits	1,102,870	421,544
Deferred service and license fees	6,842,447	6,221,283
	8,989,955	8,010,834
Less: Long-term deferred revenue	(974,095)	(491,080)
Total current deferred revenue	$ 8,015,860	$ 7,519,754

Long-Term Debt And Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2014

Long-Term Debt And Credit Facilities [Abstract]

Schedule Of Long-Term Debt Outstanding


	September 30, 2014		December 31, 2013
	Carrying	Estimated	Carrying	Estimated
	Amount	Fair Value	Amount	Fair Value

Healthcare Royalty Partners debt	18,435,843	18,435,843	18,531,211	18,531,211
Total debt	18,435,843	18,435,843	18,531,211	18,531,211
Less current maturities	—	—	(49,733)	(49,733)
Total long term debt	$ 18,435,843	$ 18,435,843	$ 18,481,478	$ 18,481,478

Stockholder's Equity (Tables)

9 Months Ended

Sep. 30, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of The Option And Stock Appreciation Rights Activity


	Number of Options/SARs	Range of Exercise Price	Weighted Average Exercise Price per Share

Outstanding, December 31, 2013	188,947	$1.69 - $116.40	$ 48.38
Granted	336,850	$4.04 - $5.19	$ 4.04
Exercised	-	-	-
Forfeited	(24,878)	$1.69 - $116.40	$ 52.18
Outstanding, September 30, 2014	500,919	$1.69 - $116.40	$ 18.38

Restricted Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of The Restricted Share Grant Activity


	Number of Shares	Weighted Average Grant Date Fair Value per Share

Outstanding, December 31, 2013	6,600	$ 35.20
Granted	-	-
Vested	(6,600)	$ 35.20
Forfeited	-	-
Outstanding, September 30, 2014	-	$ 0.00

Summary Of The Restricted Stock Unit Activity


	Number of Restricted Shares Units	Weighted Average Grant Date Fair Value per Unit

Outstanding, December 31, 2013	588,759	$ 2.05
Granted	398,400	$ 3.97
Vested	(280,758)	$ 2.01
Forfeited	(9,087)	$ 3.63
Outstanding, September 30, 2014	697,314	$ 3.14

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements [Abstract]

Assets And Liabilities Measure At Fair Value On A Recurring Basis By Level


	Fair Value Measurement Using
	Total		Quoted Prices in Active Markets for Identical Instruments (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets at September 30, 2014:
Cash equivalents	$	7,747,863	7,747,863	—	—
Total assets at fair value	$	7,747,863	7,747,863	—	—
Liabilities at September 30, 2014:
Warrants issued May 10, 2012		1,207,404	—	—	1,207,404
Warrants issued August 2013		2,297,504			2,297,504
Total liabilities at fair value:	$	3,504,908	—	—	3,504,908
Assets at December 31, 2013:
Cash equivalents	$	11,995,481	11,995,481	—	—
Total assets at fair value	$	11,995,481	11,995,481	—	—
Liabilities at December 31, 2013:
Warrants issued December 29, 2008	$	16,863	—	—	16,863
Warrants issued May 10, 2012		1,915,753	—	—	1,915,753
Warrants issued August 2013		3,712,010	—	—	3,712,010
Total liabilities at fair value:	$	5,644,626	—	—	5,644,626

Summary Of Changes In The Fair Value Of The Company's Level 3 Financial Asset And Liabilities


	Warrants issued December 29, 2008	Warrants issued May 2012	Warrants issued August 2013	Total Liabilities
Balance at beginning of period	$ 16,863	$ 1,915,753	$ 3,712,010	$ 5,644,626
Settlements	-	-	-	-
Revaluation	(16,863)	(708,349)	(1,414,506)	(2,139,718)
Balance at end of period	$ -	$ 1,207,404	$ 2,297,504	$ 3,504,908

Product Warranty Provisions (Tables)

9 Months Ended

Sep. 30, 2014

Product Warranty Provisions [Abstract]

Schedule Of Accrued Warranty


	September 30, 2014		December 31, 2013
Warranty accrual, beginning of the fiscal period	$	501,212	$	653,473
Accrual adjustment for product warranty		11,885		84,562
Payments made		(133,303)		(236,823)
Warranty accrual, end of the fiscal period	$	379,794	$	501,212

Description Of Business (Details)	36 Months Ended
Description Of Business (Details)	Dec. 31, 2013 USD ($)	Sep. 30, 2014 USD ($) item
Description Of Business [Line Items]
Cumulative losses incurred from inception \| $	$ (453,403,462)	$ (459,462,118)
Installed base \| item		118
Minimum [Member]
Description Of Business [Line Items]
Annual plan to rebalance and reduce operating expenses, percentage	15.00%
Maximum [Member]
Description Of Business [Line Items]
Annual plan to rebalance and reduce operating expenses, percentage	20.00%

Summary Of Significant Accounting Policies (Narrative) (Details)		9 Months Ended
	Jul. 10, 2012	Sep. 30, 2014 $ / shares shares	Dec. 31, 2013 $ / shares shares
Summary Of Significant Accounting Policies [Line Items]
Reverse stock split	10.0
Stock options and stock appreciation rights		500,919	188,947
Weighted average exercise price \| $ / shares		$ 18.38	$ 48.38
Common stock issuable upon exercise of outstanding warrants		2,197,883
Weighted average exercise price of warrants or rights \| $ / shares		$ 6.12
Weighted average unearned restricted shares outstanding		0
Share based compensation, requisite service period		4 years
Options And Stock Appreciation Rights [Member]
Summary Of Significant Accounting Policies [Line Items]
Antidilutive securities		500,294
Restricted Stock Units [Member]
Summary Of Significant Accounting Policies [Line Items]
Antidilutive securities		391,775
Warrants [Member]
Summary Of Significant Accounting Policies [Line Items]
Antidilutive securities		2,111,618

Summary of Significant Accounting Policies (Computation of Basic and Diluted EPS) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Numerator for basic EPS	$ 22,670	$ (56,868,442)	$ (6,058,656)	$ (64,795,382)
Effect of dilutive securities
Numerator for diluted EPS	$ 22,670	$ (56,868,442)	$ (6,058,656)	$ (64,795,382)
Denominator for basic EPS - weighted average shares	20,326,169	12,666,414	19,767,545	9,640,249
Denominator for diluted EPS	20,518,757	12,666,414	19,767,545	9,640,249
Basic EPS	$ 0.00	$ (4.49)	$ (0.31)	$ (6.72)
Diluted EPS	$ 0.00	$ (4.49)	$ (0.31)	$ (6.72)
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities	156,525
Stock Appreciation Rights (SARs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities	36,063

Inventory (Schedule Of Inventory) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Inventory [Abstract]
Raw materials	$ 2,966,762	$ 3,141,111
Work in process	444,550	364,779
Finished goods	3,222,377	1,453,362
Reserve for obsolescence	(47,386)	(80,213)
Total inventory	$ 6,586,303	$ 4,879,039

Prepaid Expenses And Other Current Assets (Schedule Of Prepaid Expenses And Other Current Assets) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Prepaid Expenses And Other Current Assets [Abstract]
Prepaid expenses	$ 445,408	$ 591,305
Deferred financing costs	549,419	622,949
Deposits	422,975	658,253
Other	17,319	72,699
Total prepaid expenses and other current assets	$ 1,435,121	$ 1,945,206

Property And Equipment (Schedule Of Property And Equipment) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 10,822,433	$ 10,774,793
Less: Accumulated depreciation	(9,925,112)	(9,590,204)
Net property and equipment	897,321	1,184,589
Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	8,190,640	8,143,000
Equipment Held For Lease [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	303,412	303,412
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 2,328,381	$ 2,328,381

Intangible Assets (Details)	Sep. 30, 2014 USD ($)
Intangible Assets [Abstract]
Total intangible assets, including those subject to execution of agreement	$ 3,665,000
Accumulated amortization	$ 2,210,389

Accrued Liabilities (Schedule Of Accrued Liabilities) (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2013 USD ($) ft²	Sep. 30, 2014 USD ($) ft²	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Accrued Liabilities [Abstract]
Accrued salaries, bonus, and benefits		$ 2,776,557	$ 3,565,385
Accrued rent		1,470,126	1,499,942
Accrued license and maintenance fees		752,623	302,384
Accrued interest		494,880	498,058
Accrued warranties		379,794	501,212	$ 653,473
Accrued taxes		352,106	360,475
Other		300,524	351,925
Total accrued liabilities		$ 6,526,610	$ 7,079,381
Square feet of office leased space \| ft²		52,000
Square feet of demonstration and assembly leased space \| ft²		12,000
Square feet of terminated unimproved space leased space \| ft²	13,000
Accrued lease termination costs, additions	$ 515,138
Accrued lease termination costs		$ 429,123

Deferred Revenue (Schedule Of Deferred Revenue) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 8,989,955	$ 8,010,834
Less: Long-term deferred revenue	(974,095)	(491,080)
Total current deferred revenue	8,015,860	7,519,754
Product Shipped, Revenue Deferred [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue	1,044,638	1,368,007
Customer Deposits [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue	1,102,870	421,544
Deferred Service And License Fees [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 6,842,447	$ 6,221,283

Long-Term Debt And Credit Facilities (Revolving Line Of Credit) (Narrative) (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2013 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) $ / shares shares	May 31, 2012 $ / shares
Debt Instrument [Line Items]
Warrants \| shares			2,197,883
Exercise price of warrants \| $ / shares				$ 3.361
Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, amount outstanding			$ 0
Current borrowing capacity			6,100,000
Line of credit, current availability			$ 6,100,000
May 10, 2012 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Debt maturity date			Mar. 31, 2013
March 2013 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 13,000,000
Debt maturity date			Jun. 30, 2013
Interest rate added to prime rate			1.75%
Accrued interest on facility, floor			7.00%
March 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Warrants Issued To Lenders [Member]
Debt Instrument [Line Items]
Warrants \| shares			113,636
Exercise price of warrants \| $ / shares			$ 1.98
March 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Guarantees Provided By Lenders [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 3,000,000
Debt maturity date			Jun. 30, 2013
Interest rate added to prime rate			0.50%
Accrued interest on facility, floor			6.00%
June 2013 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 6,000,000
Debt maturity date			Jul. 31, 2013
June 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Warrants Issued To Lenders [Member]
Debt Instrument [Line Items]
Warrants \| shares			48,387
Exercise price of warrants \| $ / shares			$ 1.55
June 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Guarantees Provided By Lenders [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 3,000,000
Debt maturity date			Jul. 31, 2013
July 2013 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Debt maturity date			Aug. 31, 2013
July 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Warrants Issued To Lenders [Member]
Debt Instrument [Line Items]
Warrants \| shares			14,313
Exercise price of warrants \| $ / shares			$ 5.24
July 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Guarantees Provided By Lenders [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 3,000,000
Debt maturity date			Aug. 31, 2013
August 2013 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 3,000,000
Debt maturity date			Mar. 31, 2014
Earnings before interest and depreciation and amortization revolving credit convenant	$ (3,000,000)	$ (4,000,000)
Liquidity ratio			2
August 2013 Amendment [Member] \| Revolving Line Of Credit [Member] \| Guarantees Provided By Lenders [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 0
March 2014 Amendment [Member] \| Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 10,000,000
Debt maturity date			Mar. 31, 2015
Tangible net worth requirement			$ (21,000,000)
Liquidity ratio			1.75

Long-Term Debt And Credit Facilities (Remaining Content) (Narrative) (Details) $ / shares in Units, item in Millions				1 Months Ended			3 Months Ended	9 Months Ended		21 Months Ended
	Aug. 08, 2013 USD ($) shares	Aug. 07, 2013 USD ($) $ / shares shares	Aug. 08, 2012 USD ($)	Jan. 31, 2013 USD ($)	May 31, 2012 USD ($) item $ / shares shares	Nov. 30, 2011 USD ($)	Dec. 31, 2011	Sep. 30, 2014 USD ($) shares	Sep. 30, 2013 USD ($)	Sep. 30, 2011	Dec. 31, 2010 USD ($) $ / shares shares
Debt Instrument [Line Items]
Duration period of warrants								6 years
Warrants \| shares								2,197,883
Exercise price of warrants \| $ / shares					$ 3.361
Amount borrowed									$ 2,500,000
Convert Warrants [Member]
Debt Instrument [Line Items]
Aggregate number of shares issued upon conversion \| shares		2,500,000
Proceeds from the exercise of stock warrants		$ 8,500,000
Exchange Warrants [Member]
Debt Instrument [Line Items]
Warrants \| shares		2,500,000
Number of shares issued upon conversion of warrants \| shares	1,400,000
Aggregate number of shares issued upon conversion \| shares	800,000
Proceeds from the exercise of stock warrants	$ 0
Exercise price of warrants \| $ / shares		$ 3.361
Term Note [Member]
Debt Instrument [Line Items]
Debt maturity date								Dec. 31, 2013
Warrants \| shares											11,111
Exercise price of warrants \| $ / shares											$ 36.00
Fair value of warrants issued											$ 228,332
Term loan agreement, face value											$ 10,000,000
Healthcare Royalty Partners debt [Member]
Debt Instrument [Line Items]
Debt maturity date								Dec. 31, 2018
Amount borrowed						$ 15,000,000
Additional amount which may be borrowed						$ 5,000,000
Percentage of royalties entitled to						100.00%
Annual interest rate						16.00%
Additional amount borrowed			$ 2,500,000	$ 2,500,000
Subordinated Convertible Debentures [Member]
Debt Instrument [Line Items]
Duration period of warrants								6 years
Warrants \| shares					2,500,000
Exercise price of warrants \| $ / shares					$ 3.361
Annual interest rate					8.00%
Proceeds from Convertible Debt					$ 8,500,000
Conversion price per share \| $ / shares					$ 3.361
Number of convertible shares \| item					2.5
Debt discount					$ 7,600,000
Fair value of warrants					4,100,000
Fair value of derivative liability					$ 3,500,000
Unconverted Debentures [Member]
Debt Instrument [Line Items]
Aggregate number of shares issued upon conversion \| shares		2,700,000
2010 Amendment To Loan Agreement [Member] \| Term Note [Member] \| Lender's Prime Rate [Member]
Debt Instrument [Line Items]
Interest rate added to prime rate							5.50%			3.50%
Principal Due 2013 [Member] \| Term Note [Member]
Debt Instrument [Line Items]
Term loan principal amount due								$ 4,000,000
Principal Due 2012 [Member] \| Term Note [Member]
Debt Instrument [Line Items]
Term loan principal amount due								4,000,000
Principal Due 2011 [Member] \| Term Note [Member]
Debt Instrument [Line Items]
Term loan principal amount due								$ 2,000,000

Long-Term Debt And Credit Facilities (Schedule Of Long-Term Debt Outstanding) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total debt, Carrying Amount	$ 18,435,843	$ 18,531,211
Less current maturities, Carrying Amount		(49,733)
Total long term debt, Carrying Amount	18,435,843	18,481,478
Total debt, Estimated Fair Value	18,435,843	18,531,211
Less current maturities, Estimated Fair Value		(49,733)
Total long term debt, Estimated Fair Value	18,435,843	18,481,478
Healthcare Royalty Partners debt [Member]
Debt Instrument [Line Items]
Total debt, Carrying Amount	18,435,843	18,531,211
Total debt, Estimated Fair Value	$ 18,435,843	$ 18,531,211

Stockholders' Equity (Narrative) (Details)						1 Months Ended			3 Months Ended	9 Months Ended
Stockholders' Equity (Narrative) (Details)	May 16, 2014 USD ($)	Aug. 13, 2013 USD ($) shares	Aug. 13, 2013 shares	Aug. 07, 2013 $ / shares shares	Jul. 10, 2012 shares	Nov. 27, 2013 USD ($) shares	Aug. 16, 2013 USD ($) shares	May 31, 2012 USD ($) $ / shares shares	Sep. 30, 2014 USD ($) $ / shares shares	Sep. 30, 2014 USD ($) $ / shares item shares	Jun. 10, 2014 shares	Dec. 31, 2013 $ / shares shares	Jun. 05, 2013 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Votes per share \| item										1
Dividends declared \| $									$ 0	$ 0
Dividends paid \| $										$ 0
Stock issued, shares									161,632
Reverse stock split					10.0
Common stock authorized									300,000,000	300,000,000		300,000,000
Common stock authorized due to Amendment											1,000,000		1,000,000
Common stock par value \| $ / shares									$ 0.001	$ 0.001		$ 0.001
Aggregate authorized offering price \| $	$ 18,000,000
Shares sold in private placement								2,170,000
Average share price of shares sold in private placement \| $ / shares								$ 3.361	$ 3.38	$ 3.38
Private placement, commission percentage	3.00%
Warrants sold in private placement								2,170,000
Duration period of warrants										6 years
Share price of warrants sold in private placement \| $ / shares								$ 1.25
Exercise price of warrants \| $ / shares								$ 3.361
Proceeds from issuance of privat placement, gross \| $									$ 546,432
Net proceeds from sale of securities \| $								$ 9,100,000	530,039
Remaining authorized private placement, value \| $									14,900,000	$ 14,900,000
Paydown of the guarantees \| $								$ 7,000,000
Total compensation cost not yet recognized related to options, stock appreciation rights and non-vested stock granted to employees \| $									$ 1,900,000	1,900,000
Estimated forfeitures \| $										$ 1,700,000
Remaining shares of Company's common stock to provide for current and future grants under its various equity plans									1,307,300	1,307,300
Total compensation cost not yet recognized related to options, stock appreciation rights and non-vested stock granted to employees, period of amortization, in years										4 years
Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares issued upon conversion of subscription rights and warrants						3,400,000
Proceeds from the exercise of stock warrants \| $						$ 10,200,000
Pre-Stock Split [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding					78,000,000
Common stock authorized					100,000,000
Post-Stock Split [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding					7,800,000
Common stock authorized					300,000,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized reverse stock split					4.00
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized reverse stock split					10.0
Warrrant Exercise Price $1.98 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of warrants \| $ / shares				$ 1.98
Aggregate number of shares issued upon conversion of subscription rights and warrants				75,758
Warrrant Exercise Price $3.361 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of warrants \| $ / shares				$ 3.361
Aggregate number of shares issued upon conversion of subscription rights and warrants				156,204
Warrrant Exercise Price $4.10 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of warrants \| $ / shares				$ 4.10
Aggregate number of shares issued upon conversion of subscription rights and warrants				30,488
Sanderling Ventures PIPE Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued upon conversion of warrants			308,194	183,478
Aggregate number of shares issued upon conversion of subscription rights and warrants		650,619	650,619	262,450
Proceeds from the exercise of stock warrants \| $		$ 0
Franklin Templeton PIPE Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares issued upon conversion of subscription rights and warrants							650,618
Proceeds from the exercise of stock warrants \| $							$ 2,186,727
Alafi Capital Company PIPE Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares issued upon conversion of subscription rights and warrants							261,241
Proceeds from the exercise of stock warrants \| $							$ 878,031

Stockholders' Equity (Summary Of The Option And Stock Appreciation Rights Activity) (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options/SARs, Outstanding, December 31, 2013	188,947
Number of Options/SARs, Granted	336,850
Number of Options/SARs, Exercised
Number of Options/SARs, Forfeited	(24,878)
Number of Options/SARs, Outstanding, September 30, 2014	500,919	188,947
Weighted Average Exercise Price per Share, Outstanding, December 31, 2013	$ 48.38
Weighted Average Exercise Price per Share, Granted	4.04
Weighted Average Exercise Price per Share, Exercised
Weighted Average Exercise Price per Share, Forfeited	52.18
Weighted Average Exercise Price per Share, Outstanding, September 30, 2014	18.38	$ 48.38
$1.69 - $116.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower limit		1.69
Range of Exercise Price, Upper limit		$ 116.40
$4.04 - $5.19 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower limit	4.04
Range of Exercise Price, Upper limit	5.19
$1.69 - $116.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower limit	1.69
Range of Exercise Price, Upper limit	116.40
$1.69 - $116.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower limit	1.69
Range of Exercise Price, Upper limit	$ 116.40

Stockholders' Equity (Summary Of The Restricted Share Grant Activity) (Details) - Restricted Shares [Member]	9 Months Ended
	Sep. 30, 2014 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding, December 31, 2013 \| shares	6,600
Number of Shares, Vested \| shares	(6,600)
Number of Shares, Outstanding, September 30, 2014 \| shares
Weighted Average Grant Date Fair Value per Share/Unit, Outstanding, December 31, 2013 \| $ / shares	$ 35.20
Weighted Average Grant Date Fair Value per Share/Unit, Vested \| $ / shares	35.20
Weighted Average Grant Date Fair Value per Share/Unit, Outstanding, September 30, 2014 \| $ / shares	$ 0.00

Stockholders' Equity (Summary Of The Restricted Stock Unit Activity) (Details) - Restricted Stock Units [Member]	9 Months Ended
	Sep. 30, 2014 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding, December 31, 2013 \| shares	588,759
Number of Shares, Granted \| shares	398,400
Number of Shares, Vested \| shares	(280,758)
Number of Shares, Forfeited \| shares	(9,087)
Number of Shares, Outstanding, September 30, 2014 \| shares	697,314
Weighted Average Grant Date Fair Value per Share/Unit, Outstanding, December 31, 2013 \| $ / shares	$ 2.05
Weighted Average Grant Date Fair Value per Share/Unit, Granted \| $ / shares	3.97
Weighted Average Grant Date Fair Value per Share/Unit, Vested \| $ / shares	2.01
Weighted Average Grant Date Fair Value per Share/Unit, Forfeited \| $ / shares	3.63
Weighted Average Grant Date Fair Value per Share/Unit, Outstanding, September 30, 2014 \| $ / shares	$ 3.14

Fair Value Measurements (Narrative) (Details)		1 Months Ended	9 Months Ended
Fair Value Measurements (Narrative) (Details)	Aug. 07, 2013 $ / shares shares	May 31, 2012 USD ($) $ / item	Sep. 30, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($)	Dec. 29, 2008 shares
Fair Value Measurements [Line Items]
Cash equivalents invested in money market funds			$ 7,747,863	$ 11,995,481
Issued warrants to purchase shares of common stock \| shares			2,197,883
Warrants Issued December 29, 2008 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants issued				16,863
Common Stock Closes Above $15.00 [Member]
Fair Value Measurements [Line Items]
Mandatory conversion percentage per Debentures agreement		50.00%
Share price which determines conversion per Debentures agreement \| $ / item		15.00
Number of consecutive trading days required at stock price		20 days
Mandatory conversion minimum per Debentures agreement		$ 2,500,000
Common Stock Closes Above $20.00 [Member]
Fair Value Measurements [Line Items]
Mandatory conversion percentage per Debentures agreement		100.00%
Share price which determines conversion per Debentures agreement \| $ / item		20.00
Number of consecutive trading days required at stock price		20 days
Mandatory conversion minimum per Debentures agreement		$ 2,500,000
Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements [Line Items]
Cash equivalents invested in money market funds			$ 7,747,863	11,995,481
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurements [Line Items]
Issued warrants to purchase shares of common stock \| shares					179,241
Fair Value, Inputs, Level 3 [Member] \| Warrants Issued December 29, 2008 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants issued				$ 16,863
Exchange Warrants [Member]
Fair Value Measurements [Line Items]
Issued warrants to purchase shares of common stock \| shares	2,500,000
Warrant expiration date			Nov. 01, 2018
Volatility rate	111.00%		153.39%
Risk-free interest rate	1.46%		1.78%
Closing stock price \| $ / shares	$ 8.69		$ 2.32
PIPE Warrants [Member]
Fair Value Measurements [Line Items]
Warrant expiration date			May 01, 2018
Volatility rate			162.85%
Risk-free interest rate			1.78%
Closing stock price \| $ / shares			$ 2.32

Fair Value Measurements (Assets And Liabilities Measure At Fair Value On A Recurring Basis By Level) (Details) - USD ($)	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 7,747,863	$ 11,995,481
Total Assets at Fair Value	7,747,863	11,995,481
Total Liabilities at Fair Value	3,504,908	5,644,626
Warrants Issued December 29, 2008 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued		16,863
Warrants Issued May 10, 2012 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued	1,207,404	1,915,753
Warrants Issued August 2013 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued	2,297,504	3,712,010
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	7,747,863	11,995,481
Total Assets at Fair Value	7,747,863	11,995,481
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Total Assets at Fair Value
Total Liabilities at Fair Value
Fair Value, Inputs, Level 2 [Member] \| Warrants Issued December 29, 2008 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued
Fair Value, Inputs, Level 2 [Member] \| Warrants Issued May 10, 2012 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued
Fair Value, Inputs, Level 2 [Member] \| Warrants Issued August 2013 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at Fair Value	3,504,908	5,644,626
Fair Value, Inputs, Level 3 [Member] \| Warrants Issued December 29, 2008 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued		16,863
Fair Value, Inputs, Level 3 [Member] \| Warrants Issued May 10, 2012 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued	1,207,404	1,915,753
Fair Value, Inputs, Level 3 [Member] \| Warrants Issued August 2013 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants issued	$ 2,297,504	$ 3,712,010

Fair Value Measurements (Summary Of Changes In The Fair Value Of The Company's Level 3 Financial Asset And Liabilities) (Details)	9 Months Ended
	Sep. 30, 2014 USD ($)
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Balance at beginning of period	$ 5,644,626
Liabilities, Settlements
Liabilities, Revaluation	(2,139,718)
Liabilities, Balance at end of period	3,504,908
Warrants Issued December 29, 2008 [Member]
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Balance at beginning of period	16,863
Liabilities, Settlements
Liabilities, Revaluation	(16,863)
Liabilities, Balance at end of period
Warrants Issued May 10, 2012 [Member]
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Balance at beginning of period	1,915,753
Liabilities, Settlements
Liabilities, Revaluation	(708,349)
Liabilities, Balance at end of period	1,207,404
Warrants Issued August 2013 [Member]
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Balance at beginning of period	3,712,010
Liabilities, Settlements
Liabilities, Revaluation	(1,414,506)
Liabilities, Balance at end of period	$ 2,297,504

Product Warranty Provisions (Schedule Of Accrued Warranty) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Product Warranty Provisions [Abstract]
Warranty accrual, beginning of the fiscal period	$ 501,212	$ 653,473
Accrual adjustment for product warranty	11,885	84,562
Payments made	(133,303)	(236,823)
Warranty accrual, end of the fiscal period	$ 379,794	$ 501,212
Standard product warranty, coverage term	1 year

Commitments And Contingencies (Details) $ in Millions	Dec. 31, 2012 USD ($)
Commitments And Contingencies [Abstract]
Letter of credit	$ 0.1