Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues        
Product sales $ 659,052 $ 67,244 $ 659,052 $ 122,690
Demonstration and consulting services 219,905 385,100 219,905 385,100
Total revenues 878,957 452,344 878,957 507,790
Costs and expenses:        
Cost of goods sold 365,118 50,397 365,118 78,748
Operating expenses 252,379 420,564 272,666 449,773
License maintenance fees 75,000 50,000 150,000 100,000
Selling, general and administrative expenses 504,761 493,869 995,997 970,272
Depreciation and amortization 91,676 44,098 135,183 88,197
Professional fees 109,725 79,889 342,577 299,378
Stock based compensation 452,029 265,617 2,693,204 465,983
Total costs and expenses 1,850,688 1,404,434 4,954,745 2,452,351
Operating loss (971,731) (952,090) (4,075,788) (1,944,561)
Other income (expense)        
Interest expense (408,647) (132,559) (706,856) (255,679)
Gain on forgiveness of liabilities    80,656    80,656
Total other income (expense) (408,647) (51,903) (706,856) (175,023)
Net Loss $ (1,380,378) $ (1,003,993) $ (4,782,644) $ (2,119,584)
Net loss per common share - basic and diluted:        
Net loss per common share - basic and diluted: $ (0.04) $ (0.03) $ (0.12) $ (0.06)
Weighted average common shares outstanding 39,014,401 33,438,015 38,938,860 33,387,146