TyraTech, Inc. Annual Report 2008
Consolidated Statements of Operations
Y
ears Ended December 31, 2008 and 2007
27
2008
2007
Revenues:
P P
r
oduct sales
$ 1,048,583
$ 404,979
L L
i
cense and royalty revenue
�
100,000
C C
ol
laborative revenue
4,890,288
5,525,037
G
ross revenues
5,938,871
6,030,016
C C
o
ntra revenues from sales incentives provided in warrants
�
(482,919
)
N N N
et revenue
5,938,871
5,547,097
C
osts and expenses related to product sales and collaboration revenue
4,409,089
2,439,558
Gross profit
1,529,782
3,107,539
C
osts and expenses:
General and administrative
9,433,492
8,139,193
Business and development
6,360,795
6,206,324
R R
e
search and technical development
4,575,338
4,517,300
T
otal cost and expenses
20,369,625
18,862,817
L L L
oss from operations
(18,839,843
)
(15,755,278
)
O
ther (income) expense:
Interest income
(442,299
)
(758,004
)
Interest/other expense
4,579
1,032,859
C C
h
ange in fair value of warrant liabilities
(997,312
)
(10,971
)
L L
o
ss on extinguishment of liability
�
518,692
T
otal other (income) expense
(1,435,032
)
782,576
L L L
oss before income taxes
(17,404,811
)
(16,537,854
)
Income taxes
�
�
N N N
et loss
$ (17,404,811
)
$ (16,537,854
)
N
et loss per common share:
Basic and diluted
$ (0.84
)
$ (0.84
)
W
eighted average number of common shares:
Basic and diluted
20,702,527
19,756,955
See accompanying notes to consolidated financial statements.