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$
36,658$
365,298Deferred revenue
123,708123,708Derivative warrant liability
803,7941,035,337Accrued expenses and other liabilities
389,059968,120Total current liabilities
1,953,2192,492,463Deferred revenue, notes payable and capital lease obligation, net of current portion and discounts
34,22065,755Total liabilities
1,987,4392,558,218CommitmentsStockholders' Equity:Convertible preferred stock, Series C & D
30,16030,160Common stock
388,363385,442Additional paid-in capital
98,634,01798,116,327Common stock subscribed for but not paid for or issued
-6,667Accumulated deficit
(84,555,777)(81,570,007)Total stockholders' equity
14,496,76316,968,589Total liabilities and stockholders' equity
$
,484,202$
9,526,807Condensed Consolidated Statements of OperationsThree Months Ended March 31,20122011Licensing revenue
$
30,927$
21,455Other revenue
-108,087Total revenues
30,927229,542Operating Expenses:Research and development
1,391,645865,950Selling, general and administrative
1,859,404918,750Total operating expenses
3,251,0491,784,700Loss from operations
(3,220,122)(1,555,158)Other Income (Expense):Interest income (expense), net
2,809(10,671)Loss on extinguishment of debt/payables
-(1,514)Derivative warrant liability gain (loss)
231,543(3,029,897)Other income (expense), net
234,352(3,042,082)Net loss
(2,985,770)(4,597,240)Deemed dividend on beneficial conversion feature of Series D Convertible Preferred Stock
-(1,975,211)Accretion of dividends on Convertible Perpetual Redeemable Preferred Stock
-(45,684)Net loss applicable to common shareholders
$
(2,985,770)$
(6,618,135)Net loss per common share, basic and diluted
$
(0.08)$
(0.20)Basic and dil
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