XML 17 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
STATEMENTS OF OPERATIONS      
Sales, net $ 29,552,200 $ 34,520,630 $ 30,785,127
Cost of sales:      
Cost of manufactured product 16,509,446 19,770,226 18,000,408
Royalty expense to shareholders 2,477,583 2,728,701 2,474,762
Total cost of sales 18,987,029 22,498,927 20,475,170
Gross profit 10,565,171 12,021,703 10,309,957
Operating expenses:      
Sales and marketing 3,837,491 3,967,081 4,414,339
Research and development 607,527 616,784 837,073
General and administrative 9,328,029 9,595,399 10,989,790
Total operating expenses 13,773,047 14,179,264 16,241,202
Loss from operations (3,207,876) (2,157,561) (5,931,245)
Litigation proceeds 7,724,826    
Interest and other income 24,917 33,941 38,943
Interest expense, net (219,672) (222,808) (230,578)
Income (loss) before income taxes 4,322,195 (2,346,428) (6,122,880)
Provision for income taxes 7,877 8,177 90,972
Net income (loss) 4,314,318 (2,354,605) (6,213,852)
Preferred stock dividend requirements (709,351) (915,225) (916,065)
Deemed capital contribution on extinguishment of preferred stock 2,305,678    
Income (loss) applicable to common shareholders $ 5,910,645 $ (3,269,830) $ (7,129,917)
Basic earnings (loss) per share (in dollars per share) $ 0.21 $ (0.12) $ (0.26)
Diluted earnings (loss) per share (in dollars per share) $ 0.20 $ (0.12) $ (0.26)
Weighted average common shares outstanding:      
Basic (in shares) 27,822,593 27,375,450 26,999,698
Diluted (in shares) 29,481,294 27,375,450 26,999,698