Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

NOTE 11 – QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table sets forth certain unaudited quarterly financial data for the eight quarters ended December 31, 2011. The unaudited information set forth below has been prepared on the same basis as the audited information and includes all adjustments necessary to present fairly the information set forth herein. The operating results for any quarter are not indicative of results for any future period. All data is in thousands except per common share data.


	2011												2010
	Q1			Q2			Q3			Q4			Q1			Q2			Q3			Q4
Revenues	$	2,200		$	1,514		$	1,857		$	4,748		$	6,648		$	6,525		$	2,943		$	4,689
Expenses	$	11,801		$	11,795		$	11,431		$	11,113		$	10,651		$	10,404		$	11,658		$	13,027
Net loss	$	(9,578	)	$	(10,259	)	$	(9,554	)	$	(6,359	)	$	(3,978	)	$	(3,860	)	$	(8,695	)	$	(8,321	)
Net loss per share	$	(0.21	)	$	(0.20	)	$	(0.18	)	$	(0.12	)	$	(0.09	)	$	(0.09	)	$	(0.19	)	$	(0.18	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details