Quarterly report pursuant to sections 13 or 15(d)

Statements of Operations

v2.4.0.6
Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Product leases and royalties $ 1,774,535 $ 743,974 $ 3,402,855 $ 1,506,600
Product sales and service 15,681 5,111 33,068 23,596
Total revenue 1,790,216 749,085 3,435,923 1,530,196
Costs and expenses        
Cost of ancillary products and assembled components 37,837 16,479 59,105 45,179
Selling, general and administrative 1,032,933 802,580 2,135,721 1,524,691
Research and development 87,470 77,228 148,675 142,484
Depreciation 4,288 4,191 8,553 8,873
Amortization 402,327 8,165 809,041 16,331
Total costs and expenses 1,564,855 908,643 3,161,095 1,737,558
Income (loss) from operations 225,361 (159,558) 274,828 (207,362)
Other income (expense)        
Interest income 4,510 6,232 10,581 12,520
Interest expense (218,367) (23,056) (445,114) (47,674)
Gain on settlement 50,000    50,000   
Total other income (expense) (163,857) (16,824) (384,533) (35,154)
Income (loss) before income taxes 61,504 (176,382) (109,705) (242,516)
Provision for income taxes           
Net income (loss) $ 61,504 $ (176,382) $ (109,705) $ (242,516)
Net income (loss) per share: Basic $ 0.00 $ (0.01) $ 0.00 $ (0.01)
Net income (loss) per share: Diluted $ 0.00 $ (0.01) $ 0.00 $ (0.01)
Weighted average shares outstanding: Basic 38,310,591 35,508,091 37,922,716 35,345,128
Weighted average shares outstanding: Diluted 41,017,013 38,130,473 40,633,368 37,839,779