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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES        
License fees $ 9,804 $ 6,116 $ 17,763 $ 12,165
Royalty income 17,101 19,281 33,285 32,667
Product sales, net 29,306 54,789 65,168 110,525
Total Revenues 56,211 80,186 116,216 155,357
COSTS AND EXPENSES        
Cost of goods sold 5,595 8,218 22,329 24,480
Research and development 171,252 242,164 364,211 515,962
Selling, general and administrative 513,769 553,411 990,069 1,212,504
Amortization of intangible assets 118,461 204,210 236,924 406,178
Depreciation 75,212 75,448 150,473 152,306
Total Costs and Expenses 884,289 1,083,451 1,764,006 2,311,430
OPERATING (LOSS) (828,078) (1,003,265) (1,647,790) (2,156,073)
Other Income (Expense)        
Interest and miscellaneous income 1,371 3,592 3,025 7,628
Interest expense (31,439) (13,443) (56,790) (26,294)
(LOSS) Before Income Taxes (858,146) (1,013,116) (1,701,555) (2,174,739)
Income taxes 0 0 0 0
NET (LOSS) (858,146) (1,013,116) (1,701,555) (2,174,739)
Less preferred stock dividends (12,154) 0 (22,880) 0
NET (LOSS) Allocable to Common Stockholders $ (870,300) $ (1,013,116) $ (1,724,435) $ (2,174,739)
Basic and diluted net (loss) per common share (in dollars per share) $ (0.11) $ (0.17) $ (0.21) $ (0.37)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in shares) 8,086,398 5,822,699 8,024,409 5,811,668