Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Revenues    
Product sales $ 28,920,051 $ 5,028,184
Equipment sales 2,699,051 6,939,412
Demonstrations and consulting services 726,438 664,323
Total revenues: 32,345,540 12,631,919
Costs and expenses:    
Cost of sales 23,030,404 10,764,835
Selling, general and administrative expenses 7,257,445 4,220,606
Settlement charges 1,335,394
Total costs and expenses 30,287,849 16,320,835
Operating profit (loss) 2,057,691 (3,688,916)
Other income (expense)    
Interest expense (4,912,855) (6,213,897)
Letter of credit fees (226,000)
Change in value of warrant liability (14,681,311) (3,194,189)
Gain on debt restructuring 406,791
Debt conversion inducement expense (1,123,380)
Total other expense (19,413,375) (10,531,466)
Net loss before taxes (17,355,684) (14,220,382)
Income tax benefit (expense) 472,669 (41,149)
Net loss $ (16,883,015) $ (14,261,531)
Net loss per common share - basic and diluted: $ (0.34) $ (0.32)
Weighted average common shares outstanding 50,646,328 44,160,298