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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
License fees $ 259,813 $ 15,979 $ 361,089 $ 30,518
Product sales, net 4,520 243,018 12,036 523,127
Total Revenues 264,333 258,997 373,125 553,645
Costs and Expenses        
Cost of product sold 528 81,286 1,451 182,816
Research and development 135,331 219,335 271,490 423,494
Selling, general and administrative 384,900 495,034 703,701 941,191
Amortization of intangible assets 199,526 118,461 398,162 235,622
Depreciation 33,165 46,218 66,330 104,527
Total Costs and Expenses 753,450 960,334 1,441,134 1,887,650
Operating (Loss) (489,117) (701,337) (1,068,009) (1,334,005)
Other Income (Expense)        
Interest and miscellaneous income 515 69 537 211
Interest expense (44,445) (63,185) (91,203) (76,154)
Equity in earnings (loss) of unconsolidated subsidiary 0 0 0 0
Foreign currency transaction gain (loss) (3,196) 35,074 1,090 (57,704)
Accommodation fee due on promissory note 0 0 (25,000) 0
(Loss) Before Income Taxes (536,243) (729,379) (1,182,585) (1,467,652)
Income taxes 0 0 0 0
Net (Loss) $ (536,243) $ (729,379) $ (1,182,585) $ (1,467,652)
Basic and diluted net (loss) per common share (in dollars per share) $ (0.01) $ (0.03) $ (0.02) $ (0.06)
Weighted average number of common shares outstanding (in shares) 62,974,431 24,767,889 50,316,681 24,613,809