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, 2015
Dec. 31, 2014
Revenues    
Product sales $ 5,028,184 $ 2,451,051
Equipment sales 6,939,412
Demonstration and consulting services 664,323 $ 343,155
Total revenues 12,631,919 2,794,206
Costs and expenses:    
Cost of goods sold 8,629,570 1,483,379
Operating expenses 1,812,355 904,914
License maintenance fees 300,000 300,000
Selling, general and administrative expenses 3,180,419 $ 5,518,032
Settlement charges 1,335,394
Depreciation and amortization 390,828 $ 387,123
Professional fees 672,269 678,725
Total costs and expenses 16,320,835 9,272,173
Operating loss (3,688,916) (6,477,967)
Other income (expense)    
Interest expense (6,213,897) $ (2,724,506)
Debt conversion inducement expense (1,123,380)
State income taxes (41,149) $ (9,273)
Total other income (expense) (10,572,615) 1,470,410
Net Loss $ (14,261,531) $ (5,007,557)
Net loss per common share - basic and diluted: $ (0.32) $ (0.13)
Weighted average common shares outstanding 44,160,298 39,140,243