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, 2013
Dec. 31, 2012
Revenue:    
PCT products, services, other $ 1,046,678 $ 809,308
Grant revenue 456,610 428,909
Total revenue 1,503,288 1,238,217
Costs and expenses:    
Cost of PCT products and services 567,828 416,415
Research and development 1,035,426 965,623
Selling and marketing 752,288 714,635
General and administrative 2,474,938 2,605,186
Total operating costs and expenses 4,830,480 4,701,859
Operating loss (3,327,192) (3,463,642)
Other income (expense):    
Interest expense, net (339,818) (133,417)
Other income (expense), net (531,130)   
Change in fair value of warrant derivative liability 113,713 144,840
Total other income (expense) (757,235) 11,423
Loss before income taxes (4,084,427) (3,452,219)
Income tax benefit    2,014
Net loss (4,084,427) (3,450,205)
Accrued and deemed dividends on convertible preferred stock (1,163,022) (950,010)
Net loss applicable to common shareholders $ (5,247,449) $ (4,400,215)
Net loss per share attributable to common stockholders - basic and diluted $ (0.44) $ (0.43)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation 11,821,870 10,154,175