Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues    
Product sales $ 0 $ 1,162,000
License revenues 146,000 62,000
Royalties 62,000 0
Total revenues 208,000 1,224,000
Expenses    
Research and development 72,000 323,000
Product costs 0 65,000
Selling, general and administrative 733,000 1,338,000
Depreciation and amortization 0 1,000
Total expenses 805,000 1,727,000
Loss from operations (597,000) (503,000)
Interest and miscellaneous income 8,000 94,000
Interest and other expense (122,000) (43,000)
(Loss) gain on change in fair value of derivative - warrants 0 (247,000)
Gain on change in fair value of derivative - preferred stock 583,000 4,780,000
Total non operating income (expense) 469,000 4,584,000
Net income (loss) (128,000) 4,081,000
Less preferred stock dividends 725,000 727,000
Net income (loss) allocable to common stockholders $ (853,000) $ 3,354,000
Net income (loss) per common share    
Basic (in dollars per share) $ (0.03) $ 0.14
Diluted (in dollars per share) $ (0.03) $ 0.13
Weighted average number of common shares outstanding    
Basic (in shares) 25,876,943 24,800,936
Diluted (in shares) 25,876,943 25,156,201