XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues $ 1,441,209 $ 4,183,891 $ 1,568,180 $ 4,350,803
Operating Expenses        
Cost of revenues 271,889 792,483 321,014 862,150
Patent amortization expense 377,744 387,038 755,489 774,623
General and administrative 1,791,278 1,164,946 3,386,499 3,990,506
Total operating expenses 2,440,911 2,344,467 4,463,002 5,627,279
Income (loss) from operations (999,702) 1,839,424 (2,894,822) (1,276,476)
Other income (expense)        
Gain (loss) on debt extinguishment 0 0 2,434,661 (2,268,373)
Decrease in fair value of derivative liabilities 3,413 5,435 618 12,321
Interest expense, net (971,445) (1,243,506) (2,000,028) (2,491,952)
Total other income (expense), net (968,032) (1,238,071) 435,251 (4,748,004)
Income (loss) before provision for income taxes (1,967,734) 601,353 (2,459,571) (6,024,480)
Provision for income taxes 0 0 0 0
Net income (loss) (1,967,734) 601,353 (2,459,571) (6,024,480)
Deemed dividend on preferred stock 0 0 (466,667) 0
Net loss attributable to common shareholders $ (1,967,734) $ 601,353 $ (2,926,238) $ (6,024,480)
Basic income (loss) per share (in dollars per share) $ (0.44) $ 0.18 $ (0.67) $ (1.97)
Fully diluted income (loss) per share (in shares) $ (0.44) $ 0.17 $ (0.67) $ (1.97)
Weighted average shares outstanding:        
Basic 4,518,396 3,430,177 4,336,888 3,061,118
Fully diluted 4,518,396 3,641,805 4,336,888 3,061,118