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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Revenues    
License fees $ 207,832 $ 58,959
Royalty income 12,046 62,966
Product sales, net 715,861 741,932
Total Revenues 935,739 863,857
Costs and Expenses    
Cost of goods sold 271,310 511,943
Research and development 763,547 770,542
Selling, general and administrative 1,680,650 1,773,540
Amortization of intangible assets 481,419 475,148
Depreciation 180,480 237,388
Total Costs and Expenses 3,377,406 3,768,561
Operating (Loss) (2,441,667) (2,904,704)
Other Income (Expense)    
Interest and miscellaneous income 281 5,386
Interest expense (178,914) (50,574)
Equity in earnings (loss) of unconsolidated subsidiary 0 0
Foreign currency transaction (loss) (79,654) (53,867)
Loss on early extinguishment of convertible note 0 (135,078)
Proceeds from litigation settlement 0 1,200,000
(Loss) Before Income Taxes (2,699,954) (1,938,837)
Income taxes 0 0
Net (Loss) $ (2,699,954) $ (1,938,837)
Basic and diluted net (loss) per common share (in dollars per share) $ (0.10) $ (0.08)
Weighted average number of common shares outstanding (in shares) 25,899,240 23,639,427