Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenue:    
PCT products, services, other $ 164,772 $ 180,643
Grant revenue 140,889 0
Total revenue 305,661 180,643
Costs and expenses:    
Cost of PCT products and services 78,194 78,929
Research and development 271,611 218,965
Selling and marketing 238,092 303,839
General and administrative 682,346 412,529
Total operating costs and expenses 1,270,243 1,014,262
Operating loss (964,582) (833,619)
Other (expense) income:    
Interest (expense) income (56,313) 254
Change in fair value of warrant derivative liability (42,012) 0
Total other (expense) income (98,325) 254
Net loss (1,062,907) (833,365)
Accrued and deemed dividends on convertible preferred stock (24,414) (133,090)
Net loss applicable to common shareholders $ (1,087,321) $ (966,455)
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share) $ (0.14) $ (0.34)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation (in shares) 7,712,539 2,836,971