Annual report pursuant to section 13 and 15(d)

Statements of Operations

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Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenue:    
Product leases and royalties $ 7,144,744 $ 3,655,148
Product sales and service 77,806 29,717
Total revenue 7,222,550 3,684,865
Costs and expenses:    
Costs of ancillary products and assembled components 70,205 81,482
Selling, general and administrative 4,113,502 3,198,029
Research and development 332,536 286,142
Depreciation 50,488 40,149
Amortization 1,564,969 435,218
Total costs and expenses 6,131,700 4,041,020
Income (loss) from operations 1,090,850 (356,155)
Other income (expenses)    
Interest income 21,600 24,821
Interest expense (882,547) (142,002)
Gain on settlement 50,000   
Total other income (expense) (810,947) (117,181)
Income (loss) before provision for income taxes 279,903 (473,336)
Provision for income taxes 341,823   
Net income (loss) $ 621,726 $ (473,336)
Basic earnings per share $ 0.02 $ (0.01)
Diluted earnings per share $ 0.02 $ (0.01)
Weighted average number of shares outstanding: Basic 38,119,310 35,427,726
Weighted average number of shares outstanding: Diluted 38,119,310 37,508,091