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Unaudited Quarterly Results (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Unaudited Quarterly Results

Unaudited quarterly results for the years ended December 31, 2015, 2014, and 2013 were as follows:

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

27,054,674

 

 

 

28,359,404

 

 

 

30,570,506

 

 

 

30,201,788

 

Income (loss) from operations

 

 

(2,424,578

)

 

 

(2,078,083

)

 

 

(2,013,698

)

 

 

2,868,688

 

Net income (loss) (2)

 

 

(2,587,074

)

 

 

(2,228,650

)

 

 

(1,675,350

)

 

 

2,780,262

 

Net income (loss) attributable to common stockholders (1) (2)

 

 

(2,587,074

)

 

 

(2,228,650

)

 

 

(1,675,350

)

 

 

2,780,262

 

Basic earnings (loss) per common share

 

 

(0.08

)

 

 

(0.07

)

 

 

(0.05

)

 

 

0.08

 

Diluted earnings (loss) per common share

 

 

(0.08

)

 

 

(0.07

)

 

 

(0.05

)

 

 

0.08

 

2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

19,350,197

 

 

 

20,386,038

 

 

 

22,519,672

 

 

 

24,508,205

 

Income (loss) from operations

 

 

(2,301,404

)

 

 

3,328,420

 

 

 

(1,338,419

)

 

 

550,551

 

Net income (loss)

 

 

(5,142,223

)

 

 

(6,266,803

)

 

 

(9,483,241

)

 

 

(16,446,750

)

Net income (loss) attributable to common stockholders (1)

 

 

(7,485,640

)

 

 

(10,771,077

)

 

 

(12,380,254

)

 

 

(100,642,922

)

Basic (loss) per common share

 

 

(0.53

)

 

 

(0.77

)

 

 

(1.19

)

 

 

(4.35

)

Diluted (loss) per common share

 

 

(0.53

)

 

 

(0.77

)

 

 

(1.19

)

 

 

(4.35

)

2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

13,885,185

 

 

 

14,846,366

 

 

 

16,698,903

 

 

 

17,720,322

 

(Loss) from operations

 

 

(3,147,240

)

 

 

(3,205,977

)

 

 

(4,182,320

)

 

 

(1,845,139

)

Net income (loss)

 

 

(4,719,104

)

 

 

(5,253,194

)

 

 

(6,495,643

)

 

 

(5,219,214

)

Net income (loss) attributable to common stockholders (1)

 

 

(6,751,248

)

 

 

(7,364,129

)

 

 

(8,647,369

)

 

 

(7,519,913

)

Basic (loss) per common share

 

 

(0.65

)

 

 

(0.71

)

 

 

(0.83

)

 

 

(0.72

)

Diluted (loss) per common share

 

 

(0.65

)

 

 

(0.71

)

 

 

(0.83

)

 

 

(0.72

)

 

(1)

See note 9 for further detail regarding the dividend accretion that is included within net loss attributable to common stockholders.

 

(2)

Fourth quarter includes the reversal of $2.6 million of stock-based compensation expense related to performance based options. See Note 12.