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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES        
License fees $ 6,116 $ 123,530 $ 12,165 $ 145,913
Royalty income 19,281 56,308 32,667 109,369
Product sales, net 54,789 51,796 110,525 211,582
Other 0 0 0 0
Total Revenues 80,186 231,634 155,357 466,864
COSTS AND EXPENSES        
Cost of goods sold 8,218 6,161 24,480 136,844
Research and development 242,164 367,395 515,962 653,179
Selling, general and administrative 553,411 922,029 1,212,504 1,738,917
Amortization of intangible assets 204,210 246,282 406,178 492,798
Depreciation 75,448 49,990 152,306 99,980
Total Costs and Expenses 1,083,451 1,591,857 2,311,430 3,121,718
OPERATING (LOSS) (1,003,265) (1,360,223) (2,156,073) (2,654,854)
Other Income (Expense)        
Interest and miscellaneous income 3,592 594 7,628 715
Interest expense (13,443) (8,500) (26,294) (16,488)
Loss on sale of intangible asset 0 (857,839) 0 (857,839)
(LOSS) BEFORE INCOME TAXES (1,013,116) (2,225,968) (2,174,739) (3,528,466)
Income taxes 0 0 0 0
Net loss $ (1,013,116) $ (2,225,968) $ (2,174,739) $ (3,528,466)
Basic and diluted net (loss) per common share $ (0.17) $ (0.41) $ (0.37) $ (0.65)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in shares) 5,822,699 5,464,987 5,811,668 5,398,062