Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues, net:        
Product $ 3,419,956 $ 2,659,751 $ 5,129,600 $ 4,825,251
Recurring 933,392 935,745 1,856,365 1,897,879
Total Net Revenue 4,353,348 3,595,496 6,985,965 6,723,130
Product 1,978,291 1,848,081 3,326,318 3,277,627
Recurring 263,083 270,517 517,385 536,680
Total Cost of Sales 2,241,374 2,118,598 3,843,703 3,814,307
Gross Profit 2,111,974 1,476,898 3,142,262 2,908,823
Operating Expenses:        
Research and development 318,815 287,291 615,505 589,433
Selling, general and administrative 1,445,627 1,806,351 2,828,346 3,266,944
Depreciation and amortization 69,525 64,729 136,186 128,847
Total Operating Expenses 1,833,967 2,158,371 3,580,037 3,985,224
Income (Loss) from Operations 278,007 (681,473) (437,775) (1,076,401)
Interest income (expense), net (7,610) 18,061 (18,724) 1,423
Gain on sale of product line 0 41,902 0 41,902
Total Other Income (Expense) (7,610) 59,963 (18,724) 43,325
Income (Loss) Before Provision for Income Taxes 270,397 (621,510) (456,499) (1,033,076)
Provision for Income Taxes 51,312 0 102,624 280
Net Income (Loss) 219,085 (621,510) (559,123) (1,033,356)
Accretion of preferred dividends and discount (35,963) (127,989) (71,724) (300,886)
Net income (loss) attributable to common stockholders $ 183,122 $ (749,499) $ (630,847) $ (1,334,242)
Net income (loss) attributable to common stockholders per common share - basic $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Net income (loss) attributable to common stockholders per common share - diluted $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Weighted Average Common Shares Outstanding - basic 125,035,612 108,179,079 125,035,612 108,141,250
Weighted Average Common Shares Outstanding - diluted 127,412,878 108,179,079 125,035,612 108,141,250