Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenue:    
PCT products, services, other $ 809,308 $ 767,765
Grant revenue 428,909 219,964
Total revenue 1,238,217 987,729
Costs and expenses:    
Cost of PCT products and services 416,415 342,865
Research and development 965,623 969,473
Selling and marketing 714,635 931,073
General and administrative 2,605,186 2,034,458
Total operating costs and expenses 4,701,859 4,277,869
Operating loss (3,463,642) (3,290,140)
Other income (expense):    
Interest income (expense), net (133,417) (136,595)
Change in fair value of warrant derivative liability 144,840 430,423
Total other income (expense) 11,423 293,828
Loss before income taxes (3,452,219) (2,996,312)
Income tax benefit 2,014 0
Net loss (3,450,205) (2,996,312)
Accrued interest on convertible debt 0 18,896
Accrued and deemed dividends on convertible preferred stock (950,010) (2,130,245)
Net loss applicable to common shareholders $ (4,400,215) $ (5,107,661)
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share) $ (0.43) $ (0.77)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation (in shares) 10,154,173 6,618,484