Oxford Immunotec Global 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Entity Registrant Name	Oxford Immunotec Global PLC
Entity Central Index Key	1,586,049
Trading Symbol	oxfd
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		22,538,047
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 88,483	$ 50,165
Restricted cash	112	200
Accounts receivable, net	7,444	6,823
Inventory	6,473	6,425
Prepaid expenses and other assets	2,718	2,755
Total current assets	105,230	66,368
Restricted cash, non-current	80	192
Property and equipment, net	5,706	4,537
In-process research and development	1,832	2,399
Goodwill	46	50
Other intangible assets, net	278	273
Other assets	19	30
Total assets	113,191	73,849
Current liabilities:
Accounts payable	3,213	2,368
Accrued liabilities	7,886	7,070
Deferred income	1,686	1,993
Current portion of loans payable	127	$ 137
Taxes payable	147
Total current liabilities	13,059	$ 11,568
Long-term portion of loans payable	352	454
Contingent purchase price consideration	1,274	1,218
Total liabilities	14,685	13,240
Shareholders’ equity:
Ordinary shares, £0.006705 nominal value; 36,183,293 shares authorized at September 30, 2015 and December 31, 2014, and 22,538,047 and 17,614,650 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	242	192
Additional paid-in capital	243,126	186,816
Accumulated deficit	(139,917)	(121,829)
Accumulated other comprehensive loss	(4,945)	(4,570)
Total shareholders’ equity	98,506	60,609
Total liabilities and shareholders’ equity	$ 113,191	$ 73,849

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - £ / shares	Sep. 30, 2015	Jan. 29, 2015	Dec. 31, 2014
Ordinary shares, nominal value (in Great Britain Pound Sterling per share)	£ 0.006705	£ 0.006705	£ 0.006705
Ordinary shares, shares authorized (in shares)	36,183,293		36,183,293
Ordinary shares, shares issued (in shares)	22,538,047		17,614,650
Ordinary shares, shares outstanding (in shares)	22,538,047		17,614,650

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue:
Product	$ 8,310	$ 6,480	$ 22,045	$ 19,192
Service	9,634	6,845	23,952	18,195
Total revenue	17,944	13,325	45,997	37,387
Cost of revenue:
Product	3,757	2,944	9,712	8,807
Service	4,312	3,568	11,514	9,710
Total cost of revenue	8,069	6,512	21,226	18,517
Gross profit	9,875	6,813	24,771	18,870
Operating expenses:
Research and development	3,187	1,946	8,392	4,185
Sales and marketing	7,381	7,468	22,549	18,376
General and administrative	4,137	3,567	11,788	11,447
Total operating expenses	14,705	12,981	42,729	34,008
Loss from operations	(4,830)	(6,168)	(17,958)	(15,138)
Other income (expense):
Interest expense, net	(19)	(41)	(53)	(104)
Foreign exchange gains (losses)	476	76	(33)	(331)
Other (expense) income	(64)	91	50	170
Loss before income taxes	(4,437)	(6,042)	(17,994)	(15,403)
Income tax expense	46	53	94	79
Net loss	$ (4,483)	$ (6,095)	$ (18,088)	$ (15,482)
Net loss per share attributable to ordinary shareholders—basic and diluted (in dollars per share)	$ (0.20)	$ (0.35)	$ (0.84)	$ (0.89)
Weighted-average shares used to compute net loss attributable to ordinary shareholders—basic and diluted (in shares)	22,259,840	17,333,441	21,619,375	17,300,881

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Other Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (4,483)	$ (6,095)	$ (18,088)	$ (15,482)
Other comprehensive loss, net of taxes:
Foreign currency translation adjustment, net of taxes	(394)	(672)	(375)	(374)
Other comprehensive loss, net of taxes	(394)	(672)	(375)	(374)
Total comprehensive loss	$ (4,877)	$ (6,767)	$ (18,463)	$ (15,856)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net loss	$ (18,088)	$ (15,482)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,533	$ 1,239
Intangible asset impairment charge	385
Share-based compensation expense	2,582	$ 1,759
Change in fair value of contingent purchase price consideration	$ 148	38
Loss on change in fair value of warrants		22
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable, net	$ (721)	(480)
Inventory	(162)	(1,112)
Prepaid expenses and other assets	12	115
Accounts payable	770	290
Accrued liabilities	922	(751)
Deferred income	(258)	191
Net cash used in operating activities	(12,877)	(14,171)
Cash flows from investing activities
Purchases of property and equipment	(2,466)	(2,567)
Purchases of intangible assets	$ (45)	(17)
Cash paid for acquisition, net of cash acquired		(1,716)
Decrease in restricted cash	$ 200	57
Net cash used in investing activities	(2,311)	$ (4,243)
Cash flows from financing activities
Proceeds from issuance of ordinary shares	53,762
Proceeds from exercise of share options and warrants	14	$ 13
Payments on loan	(107)	(139)
Net cash provided by (used in) financing activities	53,669	(126)
Effect of exchange rate changes on cash and cash equivalents	(163)	53
Net increase (decrease) in cash and cash equivalents, excluding restricted cash	38,318	(18,487)
Cash and cash equivalents at beginning of period	50,165	76,494
Cash and cash equivalents at end of period	$ 88,483	58,007
Noncash investing and financing activities:
Warrants liability reclassified to additional paid-in capital upon exercise of warrants		$ 318

Note 1 - Business and Basis of

Note 1 - Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Business and basis of presentation Description of business Oxford Immunotec Global PLC, or the Company, is a global, commercial-stage diagnostics company focused on developing and commercializing proprietary tests for the management of immune-regulated conditions. The Company’s proprietary T-SPOT ® TB in vitro During the first quarter of 2015, the Company announced the availability in the United States of a new test, the T-SPOT. CMV CMV CMV Unaudited i nterim f inancial s tatements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the financial position at September 30, 2015, the results of operations for the three and nine-month periods ended September 30, 2015 and 2014, and the cash flows for the nine-month periods ended September 30, 2015 and 2014. Interim results are not necessarily indicative of results for a full year. The consolidated balance sheet presented as of December 31, 2014, has been derived from the audited consolidated financial statements as of that date. The consolidated financial statements and notes included in this report should be read in conjunction with the 2014 consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on March 5, 2015, or the Company’s 2014 Form 10-K. Note 1 to the consolidated financial statements included in the Company’s 2014 Form 10-K describes the significant accounting estimates and policies used in preparing the consolidated financial statements. There have been no material changes in the Company’s significant accounting policies during the three and nine-month periods ended September 30, 2015. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging The objective of ASU 2014-16 is to eliminate the existing diversity in practice in accounting for hybrid financial instruments issued in the form of a share. A hybrid financial instrument consists of a “host contract” into which one or more derivative terms have been embedded. ASU 2014-16 requires an entity to consider the terms and features of the entire financial instrument, including the embedded derivative features, in order to determine whether the nature of the host contract is more akin to debt or to equity. ASU 2014-16 is effective for fiscal years and interim periods beginning after December 15, 2015, with early adoption permitted. A reporting entity should apply ASU 2014-16 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption. Retrospective application is permitted to all relevant prior periods. The adoption of ASU 2014-16 on January 1, 2015 had no impact on the Company’s presentation of its results of operations, financial position or disclosures. In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies that become public can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards and, therefore, we are subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurement	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	2 . Fair value measurement As a basis for determining the fair value of certain of the Company’s financial instruments, the Company utilizes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level I—Observable inputs such as quoted prices in active markets for identical assets or liabilities. Level II—Observable inputs, other than Level I prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level III—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amount of certain of the Company’s financial instruments, including cash, accounts receivable, prepaid expenses and other assets, accounts payable, and accrued liabilities approximate fair value due to their short maturities. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. The following tables present information about the balances of liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques it utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The Company did not have any financial assets measured at fair value on a recurring basis. Fair v alue m easurements at September 30, 2015 us ing (in thousands) September 30, 2015 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,274 $ — $ — $ 1,274 Total $ 1,274 $ — $ — $ 1,274 Fair v alue m easurements at December 31, 2014 us ing (in thousands) December 31, 2014 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,218 $ — $ — $ 1,218 Total $ 1,218 $ — $ — $ 1,218 On July 31, 2014, the Company acquired substantially all of the assets of Boulder Diagnostics, Inc., or Boulder, a privately owned company developing immunology-based assays for autoimmune and inflammatory conditions/diseases. The terms of the purchase agreement included contingent purchase price consideration consisting of future potential milestone payments totaling up to $6.1 million at any time on or prior to July 31, 2024. The milestone payments consist of completion of studies related to acquired technologies, development of diagnostic test kits, patient enrollment in an Institutional Review Board approved study, issuance of patents, and approvals or clearances by the U.S. Food and Drug Administration, or FDA. The fair value of future potential milestone payments was determined based upon a probability weighted analysis of expected future milestone payments to be made to the seller, which are considered as Level 3 inputs. The following table provides a summary of changes in the fair value of the Company's Level 3 financial liabilities for the three and nine-month periods ended September 30, 2015: (in thousands) Three months ended September 30, 2015 Nine months ended September 30, 2015 Balance – beginning $ 1,219 $ 1,218 Change in fair value of c ontingent purchase price consideration 52 148 Foreign currency adjustment 3 (92 ) Balance – ending $ 1,274 $ 1,274 The change in the fair value of the contingent purchase price consideration was due to the effect of the passage of time on the fair value measurement of future potential milestone payments related to the Boulder acquisition that is included in other income in the Company’s condensed consolidated statements of operations for the three and nine-month periods ended September 30, 2015. Foreign currency adjustments are included in accumulated other comprehensive loss for the three and nine-month periods ended September 30, 2015.

Note 3 - Accounts Receivable, N

Note 3 - Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Financing Receivables [Text Block]	3. Accounts receivable, net Accounts receivable, net, consisted of the following as of: (in thousands) September 30, 201 5 December 31, 201 4 Accounts receivable $ 7,845 $ 6,937 Less allowance for uncollectible accounts receivable (401 ) (114 ) Accounts receivable, net $ 7,444 $ 6,823

Note 4 - Inventory

Note 4 - Inventory	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	4 . Inventory Inventory consisted of the following as of: (in thousands) September 30, 201 5 December 31, 201 4 Raw materials $ 3,390 $ 3,605 Finished goods 3,083 2,820 Inventory, net $ 6,473 $ 6,425

Note 5 - Accrued Liabilities

Note 5 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	5 . Accrued liabilities Accrued liabilities consisted of the following as of: (in thousands) September 30, 201 5 December 31, 201 4 Employee related expenses $ 4,531 $ 3,348 Royalties 2,177 2,458 Clinical trials 261 — Professional services 212 323 Inventory 86 88 Rent 55 196 Other accrued liabilities 564 657 Total accrued liabilities $ 7,886 $ 7,070

Note 6 - Share Option and Equit

Note 6 - Share Option and Equity Incentive Plan	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	6 . Share option and equity incentive plan Net expense recognized related to share-based compensation was as follows: Three months ended September 30, Nine months e nded September 30, (in thousands) 201 5 201 4 201 5 201 4 Cost of revenue $ 147 $ 37 $ 386 $ 91 Research and development 56 20 166 30 Sales and marketing 302 242 725 593 General and administrative 489 435 1,305 1,045 Total share-based compensation $ 994 $ 734 $ 2,582 $ 1,759 In November 2013, in connection with the Company’s initial public offering, the Company adopted the 2013 Share Incentive Plan, or the 2013 Plan, which provides for the grant of share options, restricted shares, restricted share units, or RSUs, and other share-based awards to employees, officers, directors and consultants of the Company. During the three-month period ended September 30, 2015, the Company granted to certain employees 15,650 share options with an exercise price of $14.08 per share under the 2013 Plan. The weighted-average grant date fair value related to share options granted under the 2013 Plan during the three-month period ended September 30, 2015 was $6.18 per share. During the nine month period ended September 30, 2015, the Company granted to certain employees 685,800 share options with exercise prices ranging from $14.08 to $14.61 per share under the 2013 Plan. The weighted-average grant date fair value related to share options granted under the 2013 Plan during the nine-month period ended September 30, 2015 was $6.41 per share. Share options generally vest based on the grantee’s continued service with the Company during a specified period following the vesting start date or, in rare instances, based on the achievement of performance or other conditions as determined by the Board of Directors, and expire after ten years. During the nine month period ended September 30, 2015, the Company awarded to certain employees 108,563 RSUs with a weighted average grant date fair value of $14.25 per share under the 2013 Plan. The RSUs vest based on the grantee’s continued service with the Company during a specified period following grant as follows: 40% on the second anniversary of the grant date; 30% on the third anniversary of the grant date; and 30% on the fourth anniversary of the grant date. Share-based compensation expense for these RSUs is calculated based on the grant date market price of the shares and is being recognized over the vesting period. For the three-month period ended September 30, 2015, the Company incurred shared-based compensation expense related to share options and restricted shares/RSUs of $636,000 and $358,000, respectively. For the three-month period ended September 30, 2014, the Company incurred shared-based compensation expense related to share options and restricted shares of $446,000 and $288,000, respectively. For the nine-month period ended September 30, 2015, the Company incurred shared-based compensation expense related to share options and restricted shares/RSUs of $1.7 million and $841,000, respectively. For the nine-month period ended September 30, 2014, the Company incurred shared-based compensation expense related to share options and restricted shares of $1.1 million and $653,000, respectively. As of September 30, 2015, there was $6.4 million and $5 million of total unrecognized compensation cost related to unvested share options and restricted shares/RSUs, respectively. These costs are expected to be recognized over weighted-average periods of 2.5 years for share options and 2.7 years for restricted shares/RSUs.

Note 7 - Share Capital

Note 7 - Share Capital	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	7. Share capital On January 29, 2015, the Company entered into an underwriting agreement, or the Underwriting Agreement, with J.P. Morgan Securities LLC and Piper Jaffray & Co., as representatives of the several underwriters named therein, collectively, the Underwriters, relating to the public offering, or the Offering, of 4,255,319 ordinary shares, nominal value £0.006705, or the Shares, at an offering price to the public of $11.75 per Share, or the Offering Price. The Underwriters agreed to purchase the Shares from the Company pursuant to the Underwriting Agreement at a price of $11.045 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to an additional 638,297 Shares, or the Option Shares, at the Offering Price, less underwriting discounts and commissions. On January 30, 2015, the Underwriters exercised their option to purchase the Option Shares in full. The gross proceeds to the Company from the sale of the Shares and the Option Shares were approximately $57.5 million and the Company received net proceeds of approximately $53.8 million after deducting underwriting discounts and commissions and estimated aggregate offering expenses payable by the Company. The Offering closed on February 4, 2015. During the first nine months of 2015, 29,781 ordinary shares were issued upon the exercise of options. As of September 30, 2015, there were 36,183,293 ordinary shares authorized and 22,538,047 ordinary shares issued and outstanding.

Note 8 - Net Loss Per Share

Note 8 - Net Loss Per Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	8 . Net loss per share The following numbers of outstanding ordinary share options, unvested restricted shares and unvested restricted share units were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive: Three months ended September 30, Nine m onths ended September 30, 201 5 201 4 201 5 201 4 Options to purchase ordinary shares 1,119,303 1,168,700 1,119,397 1,197,817 Unvested restricted shares 253,740 275,500 253,740 275,500 Unvested restricted share units 108,563 — 108,563 —

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9 . Commitments and contingencies In August 2015, the Company entered into a lease amendment for the Company’s location in Marlborough, Massachusetts to extend the term of the lease by two years through October 31, 2020. In addition, the lease amendment will expand the Company’s office space at this location by 7,600 square feet to a new total of 22,100 square feet. The base rent for the combined space over the lease term will range from an initial low of $36,000 per month, which includes $12,000 per month for the expansion space commencing in early 2016, to a high of $39,000 per month. The Company will have an option to extend the lease for one additional term of five years.

Note 10 - Acquisition

Note 10 - Acquisition	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	10 . Acquisition On July 31, 2014 (“date of the acquisition”), the Company acquired substantially all of the assets of Boulder, a privately owned company developing immunology-based assays for autoimmune and inflammatory conditions/diseases. The assets acquired primarily relate to assays for Lyme disease and gout and an assay to help select biologics for autoimmune disease based on monitoring and prognosis of drug response that was acquired in conjunction with the Boulder acquisition. As part of the transaction, Boulder transferred to the Company all shares of capital stock in its wholly-owned subsidiary, Boulder Diagnostics Europe GmbH, such that the Company has become the sole owner of Boulder Diagnostics Europe GmbH. The terms of the purchase agreement provided for an upfront payment of $1.7 million and contingent purchase price consideration consisting of future potential milestone payments totaling up to $6.1 million in respect of the Lyme disease and gout assays at any time on or prior to July 31, 2024. The milestone payments consist of up to $400,000 for the completion of studies related to acquired technologies, up to $700,000 for the development of diagnostic test kits, $500,000 for the first patient enrolled in an Institutional Review Board approved study, up to $1.5 million for the issuance of patents, and up to $3.0 million for approvals or clearances by the U.S. Food and Drug Administration. The Company has determined that this liability is a Level 3 fair value measurement within the FASB’s fair value hierarchy and the fair value has been estimated to be $1.2 million on the date of acquisition based on significant assumptions, including the probabilities of milestone occurrence, the expected timing of milestone payments, and a discount rate of 15%. Such liability is adjusted to fair value at each reporting date, with the adjustment reflected in general and administrative expenses. See Note 2 “Fair value measurement” for information pertaining to changes in the fair value of this liability. The acquisition of Boulder was accounted for under the acquisition method of accounting . Total consideration was (in thousands): Cash consideration $ 1,724 Estimated fair value of contingent consideration 1,247 Total consideration transferred $ 2,971 $183,200 of the cash consideration has been placed in an escrow account for a period of 24 months as security for any undisclosed liabilities and as indemnification for certain items. The Company paid approximately $181,000 in transaction costs associated with this transaction, which is included in general and administrative expense in the consolidated statement of operations. The following table summarizes the purchase price of the Boulder acquisition, the fair value of identified assets acquired and liabilities assumed at the acquisition date (in thousands): Assets acquired: Cash $ 8 Accounts receivable 15 Inventory 40 Prepaid expenses and other 12 Property and equipment 359 In-process research and development 2,627 Total assets acquired 3,061 Liabilities assumed: Accounts payable (97 ) Accrued liabilities (14 ) Other current liabilities (34 ) Total liabilities assumed (145 ) Net assets acquired 2,916 Add: goodwill 55 Total consideration transferred $ 2,971 On the date of the acquisition the fair value of IPR&D acquired was determined to be $2.6 million ($1.8 million for the Lyme disease assay, $0.5 million for the assay to help select biologics for autoimmune disease based on monitoring and prognosis of drug response that was acquired in conjunction with the Boulder acquisition, and $0.3 million for the gout assay) using the excess earnings method with significant inputs, including estimates of the timing and cost required for product approval, revenue growth, gross margin, operating expenses and a 15% discount rate, that are not observable. The Company considers the fair value of IPR&D to be a Level 3 fair value asset due to the significant estimates and assumptions used by management in establishing the estimated fair value. Goodwill and IPR&D are indefinite-lived intangible assets and are not amortized. Rather, they are reviewed for impairment at least annually. During the third quarter of 2015, the timeline for the development of an assay to inform decisions regarding biologic therapies that was acquired as part of the Boulder acquisition was changed due to delays in the completion of research studies. Based upon the changed timeline and the resulting impact on fair value, the Company recorded an IPR&D impairment charge of $385,000 in research and development expense. Actual results of operations of Boulder for 2014 were included in the unaudited condensed consolidated interim financial statements from the date of the acquisition, including revenues in the amount of $17,000 for the quarter ended September 30, 2014 and losses from operations of $100,000 for the quarter ended September 30, 2014. The functional currency for Boulder in Germany is the Euro. As a result of a restructuring during the fourth quarter of 2014 (see Note 11. “Restructuring”) the results of operations of Boulder for 2015 are immaterial. Pro Forma Information: (in thousands, except share and per share data) Three months ended September 30, 201 4 Nine months ended September 30, 201 4 Total revenues $ 13,335 $ 37,459 Net loss $ (5,987 ) $ (15,707 ) Net loss per share—basic and diluted $ (0.35 ) $ (0.91 ) Weighted average shares outstanding—basic and diluted $ 17,333,441 $ 17,300,881

Note 11 - Restructuring

Note 11 - Restructuring	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	11 . Restructuring During the fourth quarter of 2014, the Company closed the facilities that had been used by Boulder, terminated four employees, and consolidated the research and development activities that had been performed at those locations to the Company’s Abingdon, U.K. and Memphis, Tennessee facilities. As a result of these actions, the Company recorded a fourth quarter 2014 restructuring charge of $182,000 in research and development expense. The following table provides a rollforward of the liability balance for these restructuring actions. (in thousands) Abandonment of Excess Facilities Relocation Costs Severance Total Balance at December 31, 2014 $ 42 $ 28 $ — $ 70 (Credit) charge for restructuring — (9 ) 3 (6 ) Payments (42 ) (19 ) (3 ) (64 ) Balance at September 30, 2015 $ — $ — $ — $ —

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging The objective of ASU 2014-16 is to eliminate the existing diversity in practice in accounting for hybrid financial instruments issued in the form of a share. A hybrid financial instrument consists of a “host contract” into which one or more derivative terms have been embedded. ASU 2014-16 requires an entity to consider the terms and features of the entire financial instrument, including the embedded derivative features, in order to determine whether the nature of the host contract is more akin to debt or to equity. ASU 2014-16 is effective for fiscal years and interim periods beginning after December 15, 2015, with early adoption permitted. A reporting entity should apply ASU 2014-16 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption. Retrospective application is permitted to all relevant prior periods. The adoption of ASU 2014-16 on January 1, 2015 had no impact on the Company’s presentation of its results of operations, financial position or disclosures. In January 2015, the FASB issued ASU 2015-01, Income Statement—Extraordinary and Unusual Items In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory Under the U.S. Jumpstart our Business Startups Act, or the JOBS Act, emerging growth companies that become public can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards and, therefore, we are subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

Note 2 - Fair Value Measureme19

Note 2 - Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Fair v alue m easurements at September 30, 2015 us ing (in thousands) September 30, 2015 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,274 $ — $ — $ 1,274 Total $ 1,274 $ — $ — $ 1,274 Fair v alue m easurements at December 31, 2014 us ing (in thousands) December 31, 2014 Quoted p rices in a ctive m arkets f or i dentical a ssets 1) Significant o ther o bservable i nputs Significant nobservable i nputs Liabilities: Contingent purchase price consideration $ 1,218 $ — $ — $ 1,218 Total $ 1,218 $ — $ — $ 1,218
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(in thousands) Three months ended September 30, 2015 Nine months ended September 30, 2015 Balance – beginning $ 1,219 $ 1,218 Change in fair value of c ontingent purchase price consideration 52 148 Foreign currency adjustment 3 (92 ) Balance – ending $ 1,274 $ 1,274

Note 3 - Accounts Receivable,20

Note 3 - Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(in thousands) September 30, 201 5 December 31, 201 4 Accounts receivable $ 7,845 $ 6,937 Less allowance for uncollectible accounts receivable (401 ) (114 ) Accounts receivable, net $ 7,444 $ 6,823

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) September 30, 201 5 December 31, 201 4 Raw materials $ 3,390 $ 3,605 Finished goods 3,083 2,820 Inventory, net $ 6,473 $ 6,425

Note 5 - Accrued Liabilities (T

Note 5 - Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(in thousands) September 30, 201 5 December 31, 201 4 Employee related expenses $ 4,531 $ 3,348 Royalties 2,177 2,458 Clinical trials 261 — Professional services 212 323 Inventory 86 88 Rent 55 196 Other accrued liabilities 564 657 Total accrued liabilities $ 7,886 $ 7,070

Note 6 - Share Option and Equ23

Note 6 - Share Option and Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three months ended September 30, Nine months e nded September 30, (in thousands) 201 5 201 4 201 5 201 4 Cost of revenue $ 147 $ 37 $ 386 $ 91 Research and development 56 20 166 30 Sales and marketing 302 242 725 593 General and administrative 489 435 1,305 1,045 Total share-based compensation $ 994 $ 734 $ 2,582 $ 1,759

Note 8 - Net Loss Per Share (Ta

Note 8 - Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended September 30, Nine m onths ended September 30, 201 5 201 4 201 5 201 4 Options to purchase ordinary shares 1,119,303 1,168,700 1,119,397 1,197,817 Unvested restricted shares 253,740 275,500 253,740 275,500 Unvested restricted share units 108,563 — 108,563 —

Note 10 - Acquisition (Tables)

Note 10 - Acquisition (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Cash consideration $ 1,724 Estimated fair value of contingent consideration 1,247 Total consideration transferred $ 2,971
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Assets acquired: Cash $ 8 Accounts receivable 15 Inventory 40 Prepaid expenses and other 12 Property and equipment 359 In-process research and development 2,627 Total assets acquired 3,061 Liabilities assumed: Accounts payable (97 ) Accrued liabilities (14 ) Other current liabilities (34 ) Total liabilities assumed (145 ) Net assets acquired 2,916 Add: goodwill 55 Total consideration transferred $ 2,971
Business Acquisition, Pro Forma Information [Table Text Block]	(in thousands, except share and per share data) Three months ended September 30, 201 4 Nine months ended September 30, 201 4 Total revenues $ 13,335 $ 37,459 Net loss $ (5,987 ) $ (15,707 ) Net loss per share—basic and diluted $ (0.35 ) $ (0.91 ) Weighted average shares outstanding—basic and diluted $ 17,333,441 $ 17,300,881

Note 11 - Restructuring (Tables

Note 11 - Restructuring (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Restructuring and Related Costs [Table Text Block]	(in thousands) Abandonment of Excess Facilities Relocation Costs Severance Total Balance at December 31, 2014 $ 42 $ 28 $ — $ 70 (Credit) charge for restructuring — (9 ) 3 (6 ) Payments (42 ) (19 ) (3 ) (64 ) Balance at September 30, 2015 $ — $ — $ — $ —

Note 2 - Fair Value Measureme27

Note 2 - Fair Value Measurement (Details Textual) $ in Millions	Jul. 31, 2014USD ($)
Boulder Diagnostics Inc [Member] | Milestone Payments [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 6.1

Note 2 - Fair Value Measureme28

Note 2 - Fair Value Measurement - Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 3 [Member]
Contingent purchase price consideration	$ 1,274	$ 1,218
Total	1,274	1,218
Contingent purchase price consideration	1,274	1,218
Total	$ 1,274	$ 1,218

Note 2 - Fair Value Measureme29

Note 2 - Fair Value Measurement - Changes in the Fair Value of the Company's Level 3 Financial Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Contingent Purchase Price Consideration [Member]
Change in fair value of contingent purchase price consideration	$ 52	$ 148
Balance – beginning	1,219	1,218
Foreign currency adjustment	3	(92)
Balance – ending	$ 1,274	$ 1,274

Note 3 - Accounts Receivable,30

Note 3 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounts receivable	$ 7,845	$ 6,937
Less allowance for uncollectible accounts receivable	(401)	(114)
Accounts receivable, net	$ 7,444	$ 6,823

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Raw materials	$ 3,390	$ 3,605
Finished goods	3,083	2,820
Inventory, net	$ 6,473	$ 6,425

Note 5 - Accrued Liabilities -

Note 5 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Employee related expenses	$ 4,531	$ 3,348
Royalties	2,177	$ 2,458
Clinical trials	261
Professional services	212	$ 323
Inventory	86	88
Rent	55	196
Other accrued liabilities	564	657
Total accrued liabilities	$ 7,886	$ 7,070

Note 6 - Share Option and Equ33

Note 6 - Share Option and Equity Incentive Plan (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
2013 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Second Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			40.00%
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Third Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			30.00%
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Fourth Anniversary of Grant Date [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			30.00%
2013 Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			108,563
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 14.25
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	15,650		685,800
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 14.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 6.18		$ 6.41
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit			14.08
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit			$ 14.61
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 636,000	$ 446,000	$ 1,700,000	$ 1,100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	6,400,000		$ 6,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 182 days
Restricted Stock and Restricted Stock Units (RSU's) [Member]
Allocated Share-based Compensation Expense	358,000	288,000	$ 841,000	653,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	5,000,000		$ 5,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 255 days
Allocated Share-based Compensation Expense	$ 994,000	$ 734,000	$ 2,582,000	$ 1,759,000

Note 6 - Share Option and Equ34

Note 6 - Share Option and Equity Incentive Plans - Expense Recognized During the Year Related to Share-based Compensation Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cost of Sales [Member]
Allocated Share-based Compensation Expense	$ 147	$ 37	$ 386	$ 91
Research and Development Expense [Member]
Allocated Share-based Compensation Expense	56	20	166	30
Selling and Marketing Expense [Member]
Allocated Share-based Compensation Expense	302	242	725	593
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense	489	435	1,305	1,045
Allocated Share-based Compensation Expense	$ 994	$ 734	$ 2,582	$ 1,759

Note 7 - Share Capital (Details

Note 7 - Share Capital (Details Textual) $ / shares in Units, $ in Millions	Feb. 04, 2015USD ($)	Jan. 29, 2015£ / sharesshares	Sep. 30, 2015£ / sharesshares	Jan. 29, 2015$ / sharesshares	Dec. 31, 2014£ / sharesshares
Private Placement [Member]
Stock Issued During Period, Shares, New Issues		4,255,319
Shares Issued, Price Per Share | $ / shares				$ 11.75
Underwriters [Member]
Shares Issued, Price Per Share | $ / shares				$ 11.045
Common Stock, Shares, Outstanding			22,538,047		17,614,650
Common Stock, Par or Stated Value Per Share | £ / shares		£ 0.006705	£ 0.006705		£ 0.006705
Time Period for Underwriters to Exercise Share Grants from Date of Prospectus		30 days
Additional Shares Granted to Underwritten in Private Placement		638,297		638,297
Proceeds from Issuance of Private Placement, Gross | $	$ 57.5
Proceeds from Issuance of Private Placement | $	$ 53.8
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			29,781
Common Stock, Shares Authorized			36,183,293		36,183,293
Common Stock, Shares, Issued			22,538,047		17,614,650

Note 8 - Net Loss Per Share - A

Note 8 - Net Loss Per Share - Antidilutive Securities (Details) - shares	6 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Option [Member]
Antidilutive Securities (in shares)	1,119,303	1,168,700	1,119,397	1,197,817
Restricted Stock [Member]
Antidilutive Securities (in shares)	253,740	275,500	253,740	275,500
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities (in shares)	108,563		108,563

Note 9 - Commitments and Cont37

Note 9 - Commitments and Contingencies (Details Textual) - Office Space in Malborough, Massachusetts [Member] - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2015	Sep. 30, 2015
Minimum [Member]
Operating Leases, Rent Expense, per Month		$ 36,000
Maximum [Member]
Operating Leases, Rent Expense, per Month		39,000
Office Expansion [Member]
Operating Leases, Rent Expense, per Month		$ 12,000
Lessee Leasing Arrangements, Operating Leases, Renewal Term	2 years
Lessee Leasing Arrangements, Operating Leases, Optional Extension of Contract		5 years

Note 10 - Acquisition (Details

Note 10 - Acquisition (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Boulder Diagnostics Inc [Member] | Milestone Payments [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 6,100,000
Boulder Diagnostics Inc [Member] | Milestone Payments for Completion of Studies Related to Acquired Technologies [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	400,000
Boulder Diagnostics Inc [Member] | Milestone Payments for Development of Diagnostic Test Kits [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	700,000
Boulder Diagnostics Inc [Member] | Milestone Payments for the First Patient Enrolled in an Institution Review Board Approved Study [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	500,000
Boulder Diagnostics Inc [Member] | Milestone Payments for Issuance of Patents [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	1,500,000
Boulder Diagnostics Inc [Member] | Milestone Payments for Approvals or Clearance by the FDA [Member}
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 3,000,000
Boulder Diagnostics Inc [Member] | In Process Research and Development Member 1 [Member]
Fair Value Inputs, Discount Rate	15.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 2,600,000
Goodwill and Intangible Asset Impairment		$ 385,000
Boulder Diagnostics Inc [Member] | Lyme Disease Assay [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	1,800,000
Boulder Diagnostics Inc [Member] | Biologics for Autoimmune Disease Assay [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	500,000
Boulder Diagnostics Inc [Member] | Gout Assay [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	300,000
Boulder Diagnostics Inc [Member] | General and Administrative Expense [Member]
Business Combination, Acquisition Related Costs			$ 181,000
Boulder Diagnostics Inc [Member]
Payments to Acquire Businesses, Net of Cash Acquired	1,700,000
Business Combination, Contingent Consideration, Liability	1,200,000
Restricted Cash and Cash Equivalents	$ 183,200
Restricted Cash And Cash Equivalents, Period	2 years
Revenues			17,000
Operating Income (Loss)			100,000
Payments to Acquire Businesses, Net of Cash Acquired					$ 1,716,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	$ 2,627,000
Revenues		17,944,000	13,325,000	$ 45,997,000	37,387,000
Operating Income (Loss)		$ (4,830,000)	$ (6,168,000)	$ (17,958,000)	$ (15,138,000)

Note 10 - Acquisition - Busines

Note 10 - Acquisition - Business Acquisition (Details) $ in Thousands	1 Months Ended
	Jul. 31, 2014USD ($)
Cash consideration	$ 1,724
Estimated fair value of contingent consideration	1,247
Total consideration transferred	$ 2,971

Note 10 - Acquisition - Assets

Note 10 - Acquisition - Assets Acquired and Liabilities Assumed (Details) $ in Thousands	Jul. 31, 2014USD ($)
Assets acquired:
Cash	$ 8
Accounts receivable	15
Inventory	40
Prepaid expenses and other	12
Property and equipment	359
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	2,627
Total assets acquired	3,061
Liabilities assumed:
Accounts payable	(97)
Accrued liabilities	(14)
Other current liabilities	(34)
Total liabilities assumed	(145)
Net assets acquired	2,916
Add: goodwill	55
Total consideration transferred	$ 2,971

Note 10 - Acquisition - Pro For

Note 10 - Acquisition - Pro Forma Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Total revenues	$ 13,335	$ 37,459
Net loss	$ (5,987)	$ (15,707)
Net loss per share—basic and diluted (in dollars per share)	$ (0.35)	$ (0.91)
Weighted average shares outstanding—basic and diluted (in shares)	17,333,441	17,300,881

Note 11 - Restructuring (Detail

Note 11 - Restructuring (Details Textual)	3 Months Ended	9 Months Ended
	Dec. 31, 2014USD ($)	Sep. 30, 2015USD ($)
Boulder Diagnostics Inc [Member]
Restructuring and Related Cost, Number of Positions Eliminated	4
Research and Development Expense [Member]
Restructuring Charges	$ 182,000
Restructuring Charges		$ (6,000)

Note 11 - Restructuring - Accru

Note 11 - Restructuring - Accrued Restructuring Costs (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Facility Closing [Member]
Balance at December 31, 2014	$ 42,000
(Credit) charge for restructuring	0
Payments	(42,000)
Balance at September 30, 2015	0
Employee Relocation [Member]
Balance at December 31, 2014	28,000
(Credit) charge for restructuring	(9,000)
Payments	(19,000)
Balance at September 30, 2015	0
Employee Severance [Member]
Balance at December 31, 2014	0
(Credit) charge for restructuring	3,000
Payments	(3,000)
Balance at September 30, 2015	0
Balance at December 31, 2014	70,000
(Credit) charge for restructuring	(6,000)
Payments	(64,000)
Balance at September 30, 2015	$ 0