Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]    
Sales (Note 1) $ 9,416 $ 101,388
Cost of sales 3,058 30,586
Gross profit 6,358 70,802
Other revenue - fee (Note 8) 96,699 96,698
Operating expenses:    
Selling, general and administrative 5,547,406 6,757,074
Research and development 862,784 2,159,137
Total operating expenses 6,410,190 8,916,211
Operating loss (6,307,133) (8,748,711)
Other income (expense):    
Gain on sale of property and equipment (Note 3) 1,942,980
Interest expense (30,408) (98,964)
Investment income 121,724 82,000
Other income 8,110
Total other (expense) income 2,034,296 (8,854)
Net loss $ (4,272,837) $ (8,757,565)
Basic and diluted net loss per share (Note 1) $ (1.05) $ (2.26)
Basic and diluted weighted average number of common shares outstanding (Note 1) 4,065,406 3,876,961