XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
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
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]        
Net sales $ 13,004,651 $ 11,150,212 $ 25,211,215 $ 18,170,023
Cost of goods sold 4,087,165 3,652,510 7,888,359 4,454,278
Gross profit 8,917,486 7,497,702 17,322,856 13,715,745
Operating expenses        
General and administrative 1,867,312 1,893,272 3,529,781 3,295,644
Research and development 1,100,056 1,062,459 2,036,934 1,671,763
Selling and marketing 5,433,439 6,651,380 11,069,201 11,596,495
Amortization of intangibles 590,858 634,191 1,181,716 641,453
Proxy settlement costs 2,177,990 0 2,311,541 0
Merger related costs 0 468,607 0 2,046,773
Total operating expenses 11,169,655 10,709,909 20,129,173 19,252,128
Operating loss (2,252,169) (3,212,207) (2,806,317) (5,536,383)
Other income (expense)        
Interest income 170 1,582 405 3,440
Interest expense (376,363) (343,555) (766,667) (343,794)
Foreign currency exchange gain (loss) (17,844) 2,998 (25,406) 2,034
Total other income (expense) (394,037) (338,975) (791,668) (338,320)
Loss before income taxes (2,646,206) (3,551,182) (3,597,985) (5,874,703)
Income tax expense 18,561 17,578 33,190 27,298
Net loss $ (2,664,767) $ (3,568,760) $ (3,631,175) $ (5,902,001)
Basic and diluted net loss per common share (in dollars per share) $ (0.10) $ (0.14) $ (0.14) $ (0.28)
Weighted average common shares outstanding:        
Basic and diluted (in shares) 25,518,330 25,437,860 25,446,765 20,772,399