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STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Product revenue $ 1,926,040 $ 1,947,849 $ 6,387,799 $ 6,389,880
Contract research revenue 56,363 140,569 181,363 493,740
Sales Revenue, Net 1,982,403 2,088,418 6,569,162 6,883,620
Cost of product revenue 1,373,258 1,675,287 5,021,258 5,292,643
Cost of contract research revenue 46,969 118,225 147,552 331,704
Cost of Goods and Services Sold 1,420,227 1,793,512 5,168,810 5,624,347
Gross profit 562,176 294,906 1,400,352 1,259,273
General and administrative expense 247,470 239,027 818,939 790,261
Research and development expense 62,646 133,205 230,035 495,392
Marketing and sales expense 139,381 131,096 399,185 407,068
Income (loss) from operations 112,679 (208,422) (47,807) (433,448)
Other income (expense)        
Interest income 187 543 810 2,129
Interest expense (20,030) (20,042) (65,214) (57,708)
(Loss) gain on disposal of equipment (850) 0 (850) 425
Nonoperating Income (Expense) (20,693) (19,499) (65,254) (55,154)
Income (loss) before provision for income tax 91,986 (227,921) (113,061) (488,602)
Income tax (expense) benefit (1,237) (156,637) 24,652 (165,112)
Net income (loss) 90,749 (384,558) (88,409) (653,714)
Dividends on preferred stock (6,038) (6,038) (18,114) (18,114)
INCOME (LOSS) APPLICABLE TO COMMON SHARES $ 84,711 $ (390,596) $ (106,523) $ (671,828)
Earnings per share - basic and diluted (Note 6)        
Basic (in dollars per share) $ 0.02 $ (0.10) $ (0.03) $ (0.18)
Diluted (in dollars per share) $ 0.02 $ (0.10) $ (0.03) $ (0.18)
Weighted average shares outstanding        
Basic (in shares) 3,817,963 3,779,768 3,812,019 3,778,620
Diluted (in shares) 3,827,774 3,779,768 3,812,019 3,778,620