Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v2.4.0.6
Consolidated Statements of Operations and Comprehensive Loss (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Consolidated Statements of Operations and Comprehensive Loss [Abstract]        
Revenue   $ 255,632 $ 71,931 $ 597,729
Operating expenses:        
Research and development 6,127,546 3,858,141 12,547,373 8,159,992
Selling, general and administrative 2,941,851 2,870,603 8,487,318 7,499,454
Total operating expenses 9,069,397 6,728,744 21,034,691 15,659,446
Loss from operations (9,069,397) (6,473,112) (20,962,760) (15,061,717)
Other income (expense):        
Interest income 4,947 7,362 22,850 13,865
Interest expense (315,262) (564) (930,338) (3,229)
Change in derivative liabilities 283,731 7,208 6,842 (956,933)
Other (2,619) (709) (59,088) (1,807)
Total other (expense) income, net (29,203) 13,297 (959,734) (948,104)
Loss before income taxes (9,098,600) (6,459,815) (21,922,494) (16,009,821)
Benefit from income tax    6,403,928    6,403,928
Loss from continuing operations (9,098,600) (55,887) (21,922,494) (9,605,893)
Discontinued operations, net of tax effect:        
Gain on sale - GDS Business    20,108,502    19,498,798
(Loss) income from operations    (220,682)    3,328,009
Net (loss) income and comprehensive (loss) (9,098,600) 19,831,933 (21,922,494) 13,220,914
Preferred stock dividends (25,000) (25,000) (75,000) (75,000)
Net (loss) income and comprehensive (loss) income attributable to common stockholders $ (9,123,600) $ 19,806,933 $ (21,997,494) $ 13,145,914
(Loss) income per common share (basic and diluted):        
Continuing operations $ (0.09)    $ (0.23) $ (0.11)
Discontinued operations    $ 0.21    $ 0.26
Attributable to common stockholders $ (0.09) $ 0.21 $ (0.23) $ 0.15
Weighted average shares outstanding:        
Basic and diluted 102,332,983 93,070,235 97,042,832 89,410,150