Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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
Revenue:        
Products, services, other $ 474,187 $ 333,575 $ 928,538 $ 692,939
Grant revenue 36,776 79,529 92,904 160,299
Total revenue 510,963 413,104 1,021,442 853,238
Costs and expenses:        
Cost of products and services 243,105 175,193 464,804 365,976
Research and development 321,428 291,402 656,698 523,325
Selling and marketing 193,885 200,178 385,121 366,401
General and administrative 813,242 810,220 1,621,460 1,536,244
Total operating costs and expenses 1,571,660 1,476,993 3,128,083 2,791,946
Operating loss (1,060,697) (1,063,889) (2,106,641) (1,938,708)
Other (expense) income:        
Interest expense, net (1,010,236) (640,691) (1,845,380) (1,246,276)
Other expense (168,111) (912) (513,352)
Gain on extinguishment of embedded derivative liabilities 186,609 848,073
Change in fair value of derivative liabilities 3,032,762 299,841 (1,035,628) 78,031
Total other (expense) income 2,022,526 (322,352) (2,881,920) (833,524)
Net income (loss) 961,829 (1,386,241) (4,988,561) (2,772,232)
Accrued dividends on convertible preferred stock (6,811) (23,479)
Net income (loss) applicable to common shareholders $ 961,829 $ (1,393,052) $ (4,988,561) $ (2,795,711)
Net income (loss) per share attributable to common stockholders - basic $ 0.04 $ (0.07) $ (0.20) $ (0.14)
Net income (loss) per share attributable to common stockholders - diluted $ (0.00) $ (0.07) $ (0.20) $ (0.14)
Weighted average common stock shares outstanding used in the basic net income (loss )per share calculation 25,953,828 19,682,632 24,481,039 19,247,895
Weighted average common stock shares outstanding used in the diluted net income (loss) per share calculation 70,762,909 19,682,632 24,481,039 19,247,895