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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended | 9 Months Ended | 12 Months Ended | 179 Months Ended | 188 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2012
|
Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2011
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Sep. 30, 2012
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|
| Revenue: | ||||||||
| Sales | $ 13,679 | $ 63,614 | $ 99,692 | |||||
| Grant income | 591,667 | 675,000 | 1,675,445 | |||||
| Total revenue | 605,346 | 738,614 | 36,078 | 36,078 | 1,775,137 | |||
| Cost of revenue | 141,849 | 261,101 | 11,760 | 11,760 | 716,848 | |||
| Gross margin | 463,497 | 477,513 | 24,318 | 24,318 | 1,058,289 | |||
| Other Expenses: | ||||||||
| Research and development | 554,266 | 779,589 | 1,854,407 | 2,393,573 | 2,888,245 | 1,757,370 | 50,899,338 | 53,310,203 |
| Legal, financial and other consulting | 150,785 | 93,703 | 385,612 | 260,475 | 342,651 | 307,262 | 7,957,890 | 8,343,502 |
| Selling, general and administrative | 359,625 | 352,393 | 915,402 | 814,287 | 1,230,189 | 759,387 | 25,056,473 | 25,971,875 |
| Change in fair value of management and incentive units | (6,055,483) | (6,055,483) | ||||||
| Total expenses | 1,064,676 | 1,225,685 | 3,155,421 | 3,468,335 | 4,461,085 | 2,824,019 | 77,858,218 | 81,570,097 |
| Loss from operations | (601,179) | (1,225,685) | (2,677,908) | (3,468,335) | (4,436,767) | (2,824,019) | (77,833,900) | (80,511,808) |
| Other (income)/expense: | ||||||||
| Gain on disposal of property and equipment | (21,663) | (21,663) | ||||||
| Gain on extinguishment of debt | (216,617) | (216,617) | ||||||
| Interest expense/(income), net | 50,801 | 503,242 | 447,978 | 816,358 | 1,044,881 | 84,846 | 6,737,122 | 7,185,100 |
| Penalties associated with non-registration of Series A Preferred Stock | 361,495 | 361,495 | ||||||
| Total other (income)/expense, net | 50,801 | 503,242 | 447,978 | 816,358 | 1,044,881 | 84,846 | 6,860,337 | 7,308,315 |
| Loss before benefit from income taxes | (651,980) | (1,728,927) | (3,125,886) | (4,284,693) | (5,481,648) | (2,908,865) | (84,694,237) | (87,820,123) |
| Benefit from income taxes | (547,318) | (547,318) | ||||||
| Net loss | (651,980) | (1,728,927) | (3,125,886) | (4,284,693) | (5,481,648) | (2,908,865) | (84,146,919) | (87,272,805) |
| Preferred Stock Dividend | 629,725 | 734,857 | 1,870,846 | 2,354,428 | 3,087,044 | 2,177,464 | 8,410,623 | 10,281,469 |
| Net Loss available to common shareholders | $ (1,281,705) | $ (2,463,784) | $ (4,996,732) | $ (6,639,121) | $ (8,568,692) | $ (5,086,329) | $ (92,557,542) | $ (97,554,274) |
| Basic and diluted net loss per common share | $ (0.01) | $ (0.01) | $ (0.03) | $ (0.04) | $ (0.05) | $ (0.05) | ||
| Weighted average number of shares of common stock outstanding | 204,438,894 | 168,230,680 | 193,383,650 | 153,796,011 | 160,235,291 | 98,094,768 | ||