|
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended | 6 Months Ended | 185 Months Ended | ||
|---|---|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
|
| Revenue | $ 33,042 | $ 49,935 | $ 86,013 | ||
| Cost of goods sold | 10,080 | 20,160 | 31,920 | ||
| Gross profit | 22,962 | 29,775 | 54,093 | ||
| Other Expenses: | |||||
| Research and development | 665,750 | 854,827 | 1,309,031 | 1,613,984 | 52,208,369 |
| Legal, financial and other consulting | 73,535 | 67,530 | 234,827 | 166,772 | 8,192,717 |
| Selling, general and administrative | 293,180 | 191,802 | 562,646 | 461,894 | 25,619,119 |
| Change in fair value of management and incentive units | (6,055,483) | ||||
| Total expenses | 1,032,465 | 1,114,159 | 2,106,504 | 2,242,650 | 79,964,722 |
| Loss from operations | (1,009,503) | (1,114,159) | (2,076,729) | (2,242,650) | (79,910,629) |
| Other (income)/expense: | |||||
| Gain on disposal of property and equipment | (21,663) | ||||
| Gain on extinguishment of debt | (216,617) | ||||
| Interest expense/(income), net | 37,807 | 227,023 | 397,177 | 313,116 | 7,134,299 |
| Penalties associated with non-registration of Series A Preferred Stock | 361,495 | ||||
| Total other (income)/expense, net | 37,807 | 227,023 | 397,177 | 313,116 | 7,257,514 |
| Loss before benefit from income taxes | (1,047,310) | (1,341,182) | (2,473,906) | (2,555,766) | (87,168,143) |
| Benefit from income taxes | (547,318) | ||||
| Net loss | (1,047,310) | (1,341,182) | (2,473,906) | (2,555,766) | (86,620,825) |
| Preferred Stock Dividend | 577,204 | 877,926 | 1,241,121 | 1,619,571 | 9,651,744 |
| Net Loss available to common shareholders | $ (1,624,514) | $ (2,219,108) | $ (3,715,027) | $ (4,175,337) | $ (96,272,569) |
| Basic and diluted net loss per common share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.03) | |
| Weighted average number of shares of common stock outstanding | 194,439,923 | 159,137,446 | 187,795,284 | 146,319,616 | |