Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.3.1.900
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Revenue:    
Products, services, other $ 1,409,991 $ 1,350,150
Grant revenue 387,700 24,594
Total revenue 1,797,691 1,374,744
Costs and expenses:    
Cost of products and services 609,054 652,438
Research and development 1,105,295 952,555
Selling and marketing 745,574 721,229
General and administrative 2,902,950 2,386,872
Total operating costs and expenses 5,362,873 4,713,094
Operating loss (3,565,182) (3,338,350)
Other (expense) income:    
Interest expense (4,146,416) (1,303,129)
Other expense (36,879) $ (169,554)
Gain on extinguishment of embedded derivative liabilities 2,555,180
Change in fair value of derivative liabilities (2,222,001) $ 198,493
Total other (expense) income (3,850,116) (1,274,190)
Net loss (7,415,298) (4,612,540)
Accrued dividends on convertible preferred stock $ (23,194) (141,317)
Deemed dividends on convertible preferred stock (1,497,869)
Net loss applicable to common shareholders $ (7,438,492) $ (6,251,726)
Net loss per share attributable to common stockholders - basic and diluted $ (0.36) $ (0.44)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation 20,726,205 14,264,753