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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues    
License fees $ 101,276 $ 14,539
Royalty income 0 0
Product sales, net 7,516 280,109
Total Revenues 108,792 294,648
Costs and Expenses    
Cost of goods sold 924 101,530
Research and development 136,159 204,159
Selling, general and administrative 318,801 446,157
Amortization of intangible assets 198,636 117,161
Depreciation 33,165 58,309
Total Costs and Expenses 687,685 927,316
Operating (Loss) (578,893) (632,668)
Other Income (Expense)    
Interest and miscellaneous income 22 142
Interest expense (46,758) (12,969)
Equity in earnings (loss) of unconsolidated subsidiary 0 0
Foreign currency transaction gain (loss) 4,286 (92,778)
Accommodation fee due on promissory note (25,000) 0
(Loss) Before Income Taxes (646,343) (738,273)
Income taxes 0 0
Net (Loss) $ (646,343) $ (738,273)
Basic and diluted net (loss) per common share (in dollars per share) $ (0.02) $ (0.03)
Weighted average number of common shares outstanding (in shares) 37,658,932 24,458,018