Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues $ 363 $ 398 $ 383 $ 455
Cost of revenues 211 198 224 338
Gross profit 152 200 159 117
Operating expenses:        
Selling, general and administrative 564 667 1,225 1,260
Research and development 554 373 1,069 446
Total operating expenses 1,118 1,040 2,294 1,706
Gain on the sale of assets   (40)   (40)
Loss from continuing operations (966) (800) (2,135) (1,549)
Other income (expense):        
Interest expense (116) (115) (232) (161)
Foreign currency transaction losses (28)   (14)  
Financing costs associated with convertible notes       (530)
Change in fair value of warrant liabilities   372 (2,400) (1,104)
Change in fair value of convertible notes (354) 2 (3,461) (2,216)
Other income 20   20  
Total other income (expense) (478) 259 (6,087) (4,011)
Net loss from continuing operations before income taxes (1,444) (541) (8,222) (5,560)
Benefit for income taxes from continuing operations       492
Net loss from continuing operations, net of income taxes (1,444) (541) (8,222) (5,068)
Discontinued operations:        
Income from discontinued operations, net of income taxes       53
Gain on sale of discontinued operations, net of provision for income taxes of $492       687
Net income from discontinued operations, net of income taxes       740
Net loss $ (1,444) $ (541) $ (8,222) $ (4,328)
Net loss per weighted average share, basic and diluted:        
From loss on continuing operations attributable to common stockholders (in dollars per share) $ (0.05) $ (0.02) $ (0.27) $ (0.17)
From income on discontinued operations (in dollars per share)       $ 0.00
From gain on sale of discontinued operations (in dollars per share)       $ 0.02
Net loss attributable to common stockholders per weighted average share, basic and diluted (in dollars per share) $ (0.05) $ (0.02) $ (0.27) $ (0.14)
Weighted average shares outstanding:        
Basic (in shares) 30,983,000 30,351,000 30,668,000 30,351,000
Diluted (in shares) 30,983,000 30,351,000 30,668,000 30,351,000