XML 16 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
STATEMENTS OF OPERATIONS      
Sales, net $ 34,493,838 $ 29,826,636 $ 29,552,200
Cost of Sales      
Costs of manufactured product 21,658,062 16,957,073 16,509,446
Royalty expense to shareholders 2,864,188 2,527,508 2,477,583
Total cost of sales 24,522,250 19,484,581 18,987,029
Gross profit 9,971,588 10,342,055 10,565,171
Operating expenses:      
Sales and marketing 4,658,548 4,025,786 3,837,491
Research and development 740,567 571,842 607,527
General and administrative 8,351,053 8,795,310 9,328,029
Impairment of assets   456,119  
Total operating expenses 13,750,168 13,849,057 13,773,047
Loss from operations (3,778,580) (3,507,002) (3,207,876)
Litigation proceeds     7,724,826
Interest and other income 65,695 26,522 24,917
Interest expense, net (210,761) (213,295) (219,672)
Income (loss) before income taxes (3,923,646) (3,693,775) 4,322,195
Provision (benefit) for income taxes (187,608) 1,132 7,877
Net income (loss) (3,736,038) (3,694,907) 4,314,318
Preferred Stock dividend requirements (704,996) (704,996) (709,351)
Deemed capital contribution on extinguishment of preferred stock     2,305,678
Income (loss) applicable to common shareholders $ (4,441,034) $ (4,399,903) $ 5,910,645
Basic earnings (loss) per share (in dollars per share) $ (0.14) $ (0.15) $ 0.21
Diluted earnings (loss) per share (in dollars per share) $ (0.14) $ (0.15) $ 0.20
Weighted average common shares outstanding:      
Basic (in shares) 31,958,121 29,354,437 27,822,593
Diluted (in shares) 31,958,121 29,354,437 29,481,294