XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
CONDENSED STATEMENTS OF OPERATIONS        
Sales, net $ 6,907,233 $ 8,727,905 $ 14,080,345 $ 16,157,889
Cost of sales        
Cost of manufactured product 4,600,227 4,743,204 8,440,321 8,796,605
Royalty expense to shareholders 567,544 654,187 1,124,509 1,190,638
Total cost of sales 5,167,771 5,397,391 9,564,830 9,987,243
Gross profit 1,739,462 3,330,514 4,515,515 6,170,646
Operating expenses:        
Sales and marketing 1,079,736 1,012,079 2,143,023 1,904,723
Research and development 199,385 165,481 380,233 356,993
General and administrative 2,845,720 2,684,698 5,744,672 5,086,049
Total operating expenses 4,124,841 3,862,258 8,267,928 7,347,765
Loss from operations (2,385,379) (531,744) (3,752,413) (1,177,119)
Interest and other income 9,158 11,383 20,598 22,913
Interest expense, net (60,640) (70,257) (112,703) (142,350)
Loss before income taxes (2,436,861) (590,618) (3,844,518) (1,296,556)
Provision for income taxes 1,875 14,012 3,751 22,503
Net loss (2,438,736) (604,630) (3,848,269) (1,319,059)
Preferred stock dividend requirements (228,999) (229,527) (458,067) (459,054)
Loss applicable to common shareholders $ (2,667,735) $ (834,157) $ (4,306,336) $ (1,778,113)
Basic loss per share (in dollars per share) $ (0.10) $ (0.03) $ (0.16) $ (0.07)
Diluted loss per share (in dollars per share) $ (0.10) $ (0.03) $ (0.16) $ (0.07)
Weighted average common shares outstanding:        
Basic (in shares) 27,042,370 25,318,700 27,140,433 25,318,700
Diluted (in shares) 27,042,370 25,318,700 27,140,433 25,318,700