Previous 10Q:
Note 2 – Liquidity and Management Plans
During the three months and nine months ended September 30, 2016, the Company recorded revenue of $1,003,973 and $1,322,155, respectively, and during the three and nine months ended September 30, 2015, the Company recorded revenue of $2,075,000 and $2,500,000, respectively. During the three months and nine months ended September 30, 2016, the Company recorded a net loss of $10,125,063 and $31,206,160, respectively, and during the three and nine months ended September 30, 2015, the Company recorded a net loss of $5,605,661 and $18,677,522, respectively. Net cash used in operating activities was $24,439,565 and $15,460,067 for the nine months ended September 30, 2016 and 2015, respectively. The Company is currently meeting its liquidity requirements principally through the November 2015 sale of common stock pursuant to a shelf registration, an August 2016 sale of shares to an investor through a private placement and payments received under product development projects entered into with a tier one customer.
Latest 10Q:
Note 2 – Liquidity and Management Plans
During the three months ended March 31, 2017 and 2016, the Company recorded revenue of $575,368 and $136,364, respectively. During the three months ended March 31, 2017 and 2016, the Company recorded a net loss of $12,473,140 and $10,796,542, respectively. Net cash used in operating activities was $10,007,645 and $6,325,595 for the three months ended March 31, 2017 and 2016, respectively. The Company is currently meeting its liquidity requirements through the sales of shares to three different private investors during August 2016, November 2016 and December 2016, which raised net proceeds of $34,788,311, and payments received under product development projects.
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