Quarterly report pursuant to sections 13 or 15(d)

STATEMENTS OF OPERATIONS (Unaudited)

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STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Revenues        
Royalty and license fees $ 137,217 $ 117,867 $ 459,333 $ 319,604
Product sales 124,788 77,433 265,578 284,655
Research and development service 0 3,000 0 113,000
Total revenues 262,005 198,300 724,911 717,259
Expenses:        
Cost of sales 6,475 6,358 17,483 17,724
Research and development 117,942 210,235 405,639 683,889
General and administrative expenses (142,039) 210,712 262,411 742,443
Licensing and patent expenses 53,743 62,323 194,734 230,233
Depreciation and amortization 32,487 15,757 63,939 48,583
Total operating expenses 68,608 505,385 944,205 1,722,872
Operating profit (loss) 193,397 (307,085) (219,294) (1,005,613)
Other income (expense):        
Interest income 87 58 660 1,371
Interest expense (108,808) (111,819) (334,375) (338,153)
Total other expense (108,721) (111,761) (333,715) (336,782)
Profit (Loss) before provision (benefit) for income taxes 84,676 (418,846) (553,010) (1,342,395)
Provision (benefit) for income taxes 0 0 0 0
Net loss $ 84,676 $ (418,846) $ (553,010) $ (1,342,395)
Net loss per share - basic and diluted (in dollars per share) $ 0.00 $ (0.01) $ (0.01) $ (0.04)
Weighted average common shares outstanding - basic and diluted (in shares) 37,346,154 37,346,154 37,346,154 37,346,154