Quarterly report pursuant to sections 13 or 15(d)

Condensed Statements of Operations (Unaudited)

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Condensed Statements of Operations (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Product revenues $ 713,259 $ 460,253
Development service revenues 98,862 153,946
Other service revenues 10,410  
Related party license revenues   650,000
Total revenues 822,531 1,264,199
Cost of product revenues 350,685 226,331
Research and development costs 817,621 771,453
Selling, general, and administrative 1,800,799 1,633,447
Gain on sale of intellectual property (4,338,601)  
Operating income (loss) 2,192,027 (1,367,032)
Other income (expense):    
Gain on change in fair value of deriviative liabilities 483,790 1,623,698
Loss on note payable modification   (1,356,177)
Other income, net 103,386 374,333
Interest income 2,607 7,119
Interest expense (151,408) (105,689)
Net income (loss) $ 2,630,402 $ (823,748)
Net income (loss) per share attributable to common stockholders:    
Basic (in Dollars per share) $ 0.04 $ (0.02)
Diluted (in Dollars per share) $ 0.04 $ (0.02)
Weighted average shares outstanding:    
Basic (in Shares) 58,716,727 54,860,923
Diluted (in Shares) 61,248,630 54,860,923