XML 28 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Sales, net $ 8,727,905 $ 7,975,971 $ 16,157,889 $ 17,723,603
Cost of sales        
Cost of manufactured product 4,743,204 4,207,000 8,796,605 9,966,837
Royalty expense to shareholders 654,187 633,348 1,190,638 1,330,636
Total cost of sales 5,397,391 4,840,348 9,987,243 11,297,473
Gross profit 3,330,514 3,135,623 6,170,646 6,426,130
Operating expenses:        
Sales and marketing 1,012,079 790,891 1,904,723 1,549,268
Research and development 165,481 179,602 356,993 369,882
General and administrative 2,684,698 3,153,072 5,086,049 5,594,827
Total operating expenses 3,862,258 4,123,565 7,347,765 7,513,977
Loss from operations (531,744) (987,942) (1,177,119) (1,087,847)
Interest and other income 11,383 17,621 22,913 33,598
Interest expense, net (70,257) (65,523) (142,350) (122,456)
Litigation settlements, net   1,900,000   3,800,000
Income (loss) before income taxes (590,618) 864,156 (1,296,556) 2,623,295
Provision for income taxes 14,012 17,284 22,503 52,466
Net income (loss) (604,630) 846,872 (1,319,059) 2,570,829
Preferred stock dividend requirements (229,527) (342,217) (459,054) (684,434)
Earnings (loss) applicable to common shareholders $ (834,157) $ 504,655 $ (1,778,113) $ 1,886,395
Basic earnings (loss) per share (in dollars per share) $ (0.03) $ 0.02 $ (0.07) $ 0.08
Diluted earnings (loss) per share (in dollars per share) $ (0.03) $ 0.02 $ (0.07) $ 0.07
Weighted average common shares outstanding:        
Basic (in shares) 25,318,700 24,004,118 25,318,700 23,995,116
Diluted (in shares) 25,318,700 26,189,076 25,318,700 26,573,513