QUARTERLY RESULTS OF OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2012

QUARTERLY RESULTS OF OPERATIONS

Summary of the quarterly results of operations

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2012
Sales	$	12,028,417		$	12,124,790		$	12,689,339		$	12,999,846
Cost of Sales		10,401,941			10,405,991			11,043,412			11,297,621
Gross Profit		1,626,476			1,718,799			1,645,927			1,702,225
Selling, General and Administrative		2,898,684			2,824,379			3,325,411			3,635,386
Research and Product Development		9,405,547			10,876,396			16,238,450			11,751,256
Operating Income (Loss)		(10,677,755	)		(11,981,976	)		(17,917,934	)		(13,684,417	)
Interest and Investment Income, net		111,097			77,091			42,296			11,034
Interest Expense		253			456			137			105
Income (Loss) Before Income Taxes		(10,566,911	)		(11,905,341	)		(17,875,775	)		(13,673,488	)
Income Tax Expense		—			—			—			—
Net Income (Loss)	$	(10,566,911	)	$	(11,905,341	)	$	(17,875,775	)	$	(13,673,488	)
Basic And Diluted Earnings (Loss) Per Share	$	(.54	)	$	(.58	)	$	(.86	)	$	(.66	)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2011
Sales	$	13,290,787		$	11,802,307		$	11,976,329		$	11,896,808
Cost of Sales		11,639,242			10,731,258			10,600,144			10,352,677
Gross Profit		1,651,545			1,071,049			1,376,185			1,544,131
Selling, General and Administrative		2,246,553			2,372,597			2,271,350			2,631,805
Research and Product Development		2,402,596			3,313,762			4,221,118			7,867,886
Operating Income (Loss)		(2,997,604	)		(4,615,310	)		(5,116,283	)		(8,955,560	)
Interest and Investment Income, net		85,968			77,542			77,107			3,432
Interest Expense		601			504			408			331
Income (Loss) Before Income Taxes		(2,912,237	)		(4,538,272	)		(5,039,584	)		(8,952,459	)
Income Tax Expense		—			—			1,958			47
Net Income (Loss)	$	(2,912,237	)	$	(4,538,272	)	$	(5,041,542	)	$	(8,952,506	)
Basic And Diluted Earnings (Loss) Per Share	$	(.17	)	$	(.26	)	$	(.28	)	$	(.49	)