Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Condensed Consolidated Statements of Operations        
Revenues $ 10,381,883 $ 6,417,253 $ 18,493,642 $ 11,368,569
Cost of goods sold 1,534,412 1,039,841 2,940,003 2,022,722
Gross profit 8,847,471 5,377,412 15,553,639 9,345,847
Costs and expenses:        
Sales and marketing 6,780,363 4,812,262 12,986,238 8,744,783
Research and development 936,823 736,399 1,915,163 1,407,435
General and administrative 2,736,255 1,982,020 4,881,012 3,890,602
Total costs and expenses 10,453,441 7,530,681 19,782,413 14,042,820
Loss from operations (1,605,970) (2,153,269) (4,228,774) (4,696,973)
Other income (expense):        
Interest expense (1,163,413) (1,023,774) (2,166,440) (2,018,522)
Interest expense-deferred financing costs (32,696) (31,210) (63,506) (64,956)
Other income (expense) (617) 17,380 (20,067) 14,378
Total other income (expense) (1,196,726) (1,037,604) (2,250,013) (2,069,100)
Net Loss $ (2,802,696) $ (3,190,873) $ (6,478,787) $ (6,766,073)
Weighted Average Common Shares outstanding - basic and diluted 30,079,960 24,928,435 30,037,013 23,729,558
Loss Per Common share - basic and diluted (in dollars per share) $ (0.09) $ (0.13) $ (0.22) $ (0.29)