Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Product revenues $ 0 $ 0 $ 0 $ 0
License revenues 0 0 0 27,000
TOTAL REVENUE 0 0 0 27,000
Cost of License Revenue 0 0 0 0
Gross profit 0 0 0 27,000
Operating Expenses:        
Research and development 250,000 225,000 725,000 475,000
Selling, general and administrative 2,280,000 2,552,000 7,827,000 5,571,000
Total operating expenses 2,530,000 2,777,000 8,552,000 6,046,000
Loss from Operations (2,530,000) (2,777,000) (8,552,000) (6,019,000)
Other income (expense)        
Change in value of warrant and derivative liabilities 436,000 2,809,000 37,195,000 20,683,000
Interest expense (1,536,000) (1,724,000) (4,781,000) (10,012,000)
Total Other Income (Expense) (1,100,000) 1,085,000 32,414,000 10,671,000
Income/(loss) before minority interest and provision for income taxes (3,630,000) (1,692,000) 23,862,000 4,652,000
Plus: net (income) loss attributable to the noncontrolling interest 0 0 0 0
Income/(loss) before provision for income taxes (3,630,000) (1,692,000) 23,862,000 4,652,000
Provision for income taxes 0 0 0 0
Net income/(loss) $ (3,630,000) $ (1,692,000) $ 23,862,000 $ 4,652,000
Weighted Average Common Shares Outstanding - Basic 27,462,111 2,400,000 22,656,666 2,392,683
Weighted Average Common Shares Outstanding - Diluted 27,462,111 2,400,000 22,656,666 4,764,753
Income per share - Basic $ 0.13 $ 0.71 $ 1.05 $ 1.94
Income per share - Diluted $ 0.13 $ 0.71 $ 1.05 $ 0.98