Quarterly report pursuant to Section 13 or 15(d)

Statements of Operations

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Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue:        
Product leases and royalties $ 2,747,774 $ 2,516,376 $ 8,003,469 $ 7,238,539
Product sales and service 7,074 1,008 18,073 6,185
Total revenue 2,754,848 2,517,384 8,021,542 7,244,724
Costs and expenses:        
Cost of ancillary products and assembled components 22,890 19,362 70,168 56,302
Selling, general and administrative 1,736,024 1,450,403 4,995,984 3,956,855
Research and development 101,822 126,300 371,251 337,687
Depreciation 44,605 29,704 128,916 72,450
Amortization 372,313 391,249 1,122,698 1,170,381
Share-based compensation 17,909 30,554 72,850 151,378
Total costs and expenses 2,295,563 2,047,572 6,761,867 5,745,053
Income from operations 459,285 469,812 1,259,675 1,499,671
Other income (expense):        
Interest income 2,084 5,387 13,288 16,841
Interest expense (248,604) (271,275) (799,407) (834,957)
Total other expense (246,520) (265,888) (786,119) (818,116)
Income before provision for income taxes 212,765 203,924 473,556 681,555
Provision for income taxes (93,059) (116,495) (219,418) (333,584)
Net income $ 119,706 $ 87,429 $ 254,138 $ 347,971
Basic income per share $ 0.00 $ 0.00 $ 0.01 $ 0.01
Diluted income per share $ 0.00 $ 0.00 $ 0.01 $ 0.01
Weighted average shares outstanding:        
Basic 39,040,775 38,560,591 39,040,775 38,493,955
Diluted 39,079,102 38,574,447 39,079,102 38,772,448