Quarterly report pursuant to Section 13 or 15(d)

Statements of Operations

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Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]    
Sales (Note 1) $ 11,288
Cost of sales 4,007
Gross profit 7,281
Other revenue - fee (Note 7) $ 24,175 24,175
Operating expenses:    
Selling, general and administrative 1,030,126 1,535,851
Research and development 372,586 707,742
Total operating expenses 1,402,712 2,243,593
Operating loss (1,378,537) $ (2,212,137)
Other (expense) income:    
Gain on sale of property and equipment (Note 2) 1,919,361
Interest expense (25,598) $ (25,064)
Investment income 44,285 50,828
Total other income 1,938,048 25,764
Net income (loss) $ 559,511 $ (2,186,373)
Basic and diluted net loss per share (Note 1) $ 0.14 $ (0.56)
Basic and diluted weighted average number of shares outstanding (Note 1) 3,876,960 3,876,960