Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Consolidated Statements of Operations        
Revenues $ 20,584,498 $ 15,168,064 $ 37,844,357 $ 27,409,137
Cost of goods sold 3,106,215 2,277,201 5,818,595 4,192,849
Gross profit 17,478,283 12,890,863 32,025,762 23,216,288
Costs and expenses:        
Sales and marketing 14,025,909 9,438,288 26,495,260 18,048,770
Research and development 2,601,237 1,521,123 4,659,679 2,932,259
General and administrative 5,668,764 3,377,105 10,680,491 6,881,144
Total costs and expenses 22,295,910 14,336,516 41,835,430 27,862,173
Loss from operations (4,817,627) (1,445,653) (9,809,668) (4,645,885)
Other income (expense):        
Interest income 156,411   156,550  
Interest expense (544,207) (554,384) (1,129,825) (1,061,933)
Interest expense — deferred financing costs (20,666) (46,110) (81,329) (90,601)
Loss on extinguishment of debt (2,186,114)   (2,186,114)  
Other expense (15,237) (14,032) (15,472) (23,785)
Total other expense (2,609,813) (614,526) (3,256,190) (1,176,319)
Net Loss $ (7,427,440) $ (2,060,179) $ (13,065,858) $ (5,822,204)
Weighted average common shares outstanding — basic and diluted 36,677,074 33,124,139 35,605,054 33,075,555
Loss per common share — basic and diluted $ (0.20) $ (0.06) $ (0.37) $ (0.18)