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 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues, net:        
Product $ 2,659,751 $ 2,401,683 $ 4,825,251 $ 3,319,612
Recurring 935,745 1,060,228 1,897,879 2,070,900
Total Net Revenue 3,595,496 3,461,911 6,723,130 5,390,512
Product 1,848,081 1,201,855 3,277,627 1,802,664
Recurring 270,517 276,815 536,680 566,724
Total Cost of Sales 2,118,598 1,478,670 3,814,307 2,369,388
Gross Profit 1,476,898 1,983,241 2,908,823 3,021,124
Operating Expenses:        
Research and development 287,291 250,501 589,433 481,065
Selling, general and administrative 1,806,351 1,495,927 3,266,944 2,927,708
Depreciation and amortization 64,729 61,478 128,847 134,076
Total Operating Expense 2,158,371 1,807,906 3,985,224 3,542,849
Income (Loss) from Operations (681,473) 175,335 (1,076,401) (521,725)
Interest (expense) income, net 18,061 (33,559) 1,423 (65,323)
Gain on sale of product line 41,902 15,408 41,902 15,408
Total Other Income (Expense) 59,963 (18,151) 43,325 (49,915)
Income (Loss) Before Provision for Income Taxes (621,510) 157,184 (1,033,076) (571,640)
Provision for Income Taxes       280   
Net Income (Loss) (621,510) 157,184 (1,033,356) (571,640)
Accretion of preferred dividends and discount (127,989) (224,113) (300,886) (414,866)
Net income (loss) attributable to common stockholders $ (749,499) $ (66,929) $ (1,334,242) $ (986,506)
Net income (loss) per common share:        
Net loss attributable to common stockholders per common share - basic $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Net loss attributable to common stockholders per common share - diluted $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Weighted Average Common Shares Outstanding - basic 108,179,079 104,518,000 108,141,250 104,434,663
Weighted Average Common Shares Outstanding - diluted 108,179,079 104,518,000 108,141,250 104,434,663