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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES        
License fees $ 11,400 $ 6,184 $ 29,163 $ 18,349
Royalty income 16,633 18,861 49,918 51,528
Product sales, net 60,889 48,607 126,057 159,132
Total Revenues 88,922 73,652 205,138 229,009
COSTS AND EXPENSES        
Cost of goods sold 113,415 11,065 135,745 35,545
Research and development 152,985 233,087 517,196 749,049
Selling, general and administrative 375,767 566,541 1,365,836 1,779,045
Amortization of intangible assets 119,763 206,454 356,687 612,632
Depreciation 75,219 75,359 225,691 227,665
Total Costs and Expenses 837,149 1,092,506 2,601,155 3,403,936
OPERATING (LOSS) (748,227) (1,018,854) (2,396,017) (3,174,927)
Other Income (Expense)        
Interest and miscellaneous income 30,720 1,857 33,745 9,485
Interest expense (134,218) (22,545) (191,008) (48,839)
(LOSS) Before Income Taxes (851,725) (1,039,542) (2,553,280) (3,214,281)
Income taxes 0 0 0 0
NET (LOSS) (851,725) (1,039,542) (2,553,280) (3,214,281)
Less preferred stock dividends (12,288) (462) (35,168) (462)
NET (LOSS) Allocable to Common Stockholders $ (864,013) $ (1,040,004) $ (2,588,448) $ (3,214,743)
Basic and diluted net (loss) per common share (in dollars per share) $ (0.1) $ (0.18) $ (0.32) $ (0.55)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in shares) 8,267,755 5,928,084 8,106,117 5,850,900