$aurx 2016 Q1 10-Q

Concept	2016 Q1	2015 Q4	2015 Q1
Revenue	$1.408M	$1.610M	$4.837M
YoY Change	-70.88%	-15.26%	162.04%
Cost Of Revenue	$789.2K	$1.160M	$2.825M
YoY Change	-72.07%	-44.5%	94.44%
Gross Profit	$619.2K	$450.0K	$2.012M
YoY Change	-69.22%	-336.84%	412.08%
Gross Profit Margin	43.96%	27.95%	41.59%
Selling, General & Admin	$2.218M	$2.690M	$4.648M
YoY Change	-52.28%	-34.71%	28.78%
% of Gross Profit	358.21%	597.78%	231.04%
Research & Development	$375.2K	$700.0K	$734.5K
YoY Change	-48.92%	775.0%	-48.77%
% of Gross Profit	60.59%	155.56%	36.51%
Depreciation & Amortization	$208.6K	$210.0K	$169.0K
YoY Change	23.42%	61.54%	-22.36%
% of Gross Profit	33.68%	46.67%	8.4%
Operating Expenses	$2.593M	$3.390M	$5.383M
YoY Change	-51.82%	-19.86%	6.73%
Operating Profit	-$1.974M	-$2.940M	-$3.371M
YoY Change	-41.44%	-33.48%	-27.51%
Interest Expense	-$206.2K	$1.570M	-$867.0K
YoY Change	-76.22%	-78.81%	-26.48%
% of Operating Profit
Other Income/Expense, Net	-$2.897M	-$37.63M	$7.483M
YoY Change	-138.71%		-865.01%
Pretax Income	-$4.871M	-$42.32M	$4.112M
YoY Change	-218.46%	-1579.72%	-173.06%
Income Tax	$0.00	-$100.0K	$4.871K
% Of Pretax Income			0.12%
Net Earnings	-$4.871M	-$42.22M	$4.107M
YoY Change	-218.6%	-1576.22%	-172.91%
Net Earnings / Revenue	-345.85%	-2622.36%	84.91%
Basic Earnings Per Share	-$0.04		$0.02
Diluted Earnings Per Share	-$0.04	-$0.34	$0.02
COMMON SHARES
Basic Shares Outstanding	126.0M shares	125.7M shares	126.0M shares
Diluted Shares Outstanding	126.0M shares		126.0M shares

Concept	2016 Q1	2015 Q4	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$690.0K	$920.0K	$11.82M
YoY Change	-94.16%	-94.23%	54.51%
Cash & Equivalents	$685.5K	$922.3K	$11.82M
Short-Term Investments
Other Short-Term Assets	$690.0K	$850.0K	$3.630M
YoY Change	-80.99%		46.96%
Inventory	$158.6K	$254.4K	$1.046M
Prepaid Expenses
Receivables	$1.570M	$1.010M	$2.120M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$3.112M	$3.049M	$18.62M
YoY Change	-83.29%	-86.06%	40.84%
LONG-TERM ASSETS
Property, Plant & Equipment	$983.7K	$1.115M	$999.1K
YoY Change	-1.54%	20.54%	14.84%
Goodwill			$1.129M
YoY Change			0.0%
Intangibles	$2.436M	$2.513M	$28.67M
YoY Change	-91.5%	-91.26%	-14.87%
Long-Term Investments
YoY Change
Other Assets	$372.4K	$396.2K	$3.318M
YoY Change	-88.78%	-90.14%	147.61%
Total Long-Term Assets	$3.792M	$4.025M	$34.12M
YoY Change	-88.88%	-88.28%	-7.84%
TOTAL ASSETS
Total Short-Term Assets	$3.112M	$3.049M	$18.62M
Total Long-Term Assets	$3.792M	$4.025M	$34.12M
Total Assets	$6.904M	$7.074M	$52.74M
YoY Change	-86.91%	-87.42%	4.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$728.9K	$1.067M	$2.027M
YoY Change	-64.04%	-43.19%	-74.47%
Accrued Expenses	$1.554M	$2.453M	$6.533M
YoY Change	-76.22%	-52.75%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$2.500M	$35.00M
YoY Change
Total Short-Term Liabilities	$5.218M	$42.19M	$8.962M
YoY Change	-41.78%	396.42%	6.56%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$420.0K
YoY Change	-100.0%	-100.0%	-80.73%
Other Long-Term Liabilities	$249.2K	$307.1K	$526.8K
YoY Change	-52.71%	-43.85%	-96.25%
Total Long-Term Liabilities	$785.7K	$944.2K	$526.8K
YoY Change	49.13%	72.65%	-96.75%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.218M	$42.19M	$8.962M
Total Long-Term Liabilities	$785.7K	$944.2K	$526.8K
Total Liabilities	$6.003M	$43.13M	$32.33M
YoY Change	-81.43%	7.14%	30.85%
SHAREHOLDERS EQUITY
Retained Earnings	-$167.8M	-$162.9M	-$106.0M
YoY Change	58.29%	47.96%	9.44%
Common Stock	$12.48K	$0.00	$12.48K
YoY Change	0.0%	-100.0%	3.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$41.39M	-$36.56M	$19.91M
YoY Change
Total Liabilities & Shareholders Equity	$6.904M	$7.074M	$52.74M
YoY Change	-86.91%	-87.42%	4.97%

Concept	2016 Q1	2015 Q4	2015 Q1
OPERATING ACTIVITIES
Net Income	-$4.871M	-$42.22M	$4.107M
YoY Change	-218.6%	-1576.22%	-172.91%
Depreciation, Depletion And Amortization	$208.6K	$210.0K	$169.0K
YoY Change	23.42%	61.54%	-22.36%
Cash From Operating Activities	-$2.550M	-$2.740M	-$3.960M
YoY Change	-35.61%	-28.08%	1.28%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$430.0K	$165.8K
YoY Change	-100.0%	59.26%	118.95%
Acquisitions
YoY Change
Other Investing Activities		$40.00K
YoY Change
Cash From Investing Activities	$0.00	-$390.0K	-$170.0K
YoY Change	-100.0%	44.44%	112.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change			-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	2.320M	0.000	0.000
YoY Change			-100.0%
NET CHANGE
Cash From Operating Activities	-2.550M	-2.740M	-3.960M
Cash From Investing Activities	0.000	-390.0K	-170.0K
Cash From Financing Activities	2.320M	0.000	0.000
Net Change In Cash	-230.0K	-3.130M	-4.130M
YoY Change	-94.43%	-23.28%	-194.72%
FREE CASH FLOW
Cash From Operating Activities	-$2.550M	-$2.740M	-$3.960M
Capital Expenditures	$0.00	-$430.0K	$165.8K
Free Cash Flow	-$2.550M	-$2.310M	-$4.126M
YoY Change	-38.19%	-34.75%	3.51%

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2016Q1	dei	Entity Registrant Name EntityRegistrantName	NUO THERAPEUTICS, INC.
CY2016Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001091596
CY2016Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	832779	USD
CY2015Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	1305765	USD
CY2015Q1	us-gaap	Licenses Revenue LicensesRevenue	3100595	USD
CY2016Q1	us-gaap	Licenses Revenue LicensesRevenue	100594	USD
CY2015Q1	us-gaap	Royalty Revenue RoyaltyRevenue	430767	USD
CY2016Q1	us-gaap	Royalty Revenue RoyaltyRevenue	474975	USD
CY2015Q1	us-gaap	Cost Of Revenue CostOfRevenue	2825337	USD
CY2016Q1	us-gaap	Cost Of Revenue CostOfRevenue	789174	USD
CY2015Q1	us-gaap	Revenues Revenues	4837127	USD
CY2016Q1	us-gaap	Cost Of Goods Sold CostOfGoodsSold	748567	USD
CY2016Q1	us-gaap	Revenues Revenues	1408348	USD
CY2015Q1	us-gaap	Cost Of Goods Sold CostOfGoodsSold	1281151	USD
CY2015Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	4111872	USD
CY2016Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4870763	USD
CY2015Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	4871	USD
CY2016Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	4107001	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	-4870763	USD
CY2016Q1	us-gaap	License Costs LicenseCosts	0	USD
CY2016Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	563810	USD
CY2015Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1822097	USD
CY2015Q1	us-gaap	License Costs LicenseCosts	1500000	USD
CY2015Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	502241	USD
CY2016Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-95787	USD
CY2015Q1	us-gaap	Direct Operating Cost Royalty Expense DirectOperatingCostRoyaltyExpense	44186	USD
CY2016Q1	us-gaap	Direct Operating Cost Royalty Expense DirectOperatingCostRoyaltyExpense	40607	USD
CY2015Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	734490	USD
CY2016Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	375182	USD
CY2015Q1	us-gaap	Gross Profit GrossProfit	2011790	USD
CY2016Q1	us-gaap	Gross Profit GrossProfit	619174	USD
CY2015Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2825972	USD
CY2016Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1654164	USD
CY2015Q1	us-gaap	Operating Expenses OperatingExpenses	5382559	USD
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	2593156	USD
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-3370769	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-1973982	USD
CY2015Q1	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-866958	USD
CY2016Q1	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-206155	USD
CY2015Q1	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	8365878	USD
CY2016Q1	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	0	USD
CY2015Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-16279	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-32	USD
CY2015Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	7482641	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-2896781	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	149256	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	926304	USD
CY2015Q1	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	268714	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	572836	USD
CY2015Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	151774	USD
CY2016Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-164985	USD
CY2015Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-100595	USD
CY2016Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-222137	USD
CY2015Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-24926	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-31237	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-3961717	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-2554315	USD
CY2015Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	165817	USD
CY2016Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	0	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-165817	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	0	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	0	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	2317481	USD
CY2015Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-4127534	USD
CY2016Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-236834	USD
CY2014Q4	us-gaap	Cash Cash	15946425	USD
CY2015Q4	us-gaap	Cash Cash	922317	USD
CY2015Q1	us-gaap	Cash Cash	11818891	USD
CY2016Q1	us-gaap	Cash Cash	685483	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	39531	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	334392	USD
CY2016Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	208563	USD
CY2015Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	168993	USD
CY2016Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	USD
CY2015Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	4871	USD
CY2016Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1282979	USD
CY2015Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-196225	USD
CY2016Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	205528	USD
CY2015Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	511095	USD
CY2016Q1	us-gaap	Long Term Debt LongTermDebt	40800000	USD
CY2016Q1	nuot	Fdic Insurance Limit FdicInsuranceLimit	250000	USD
CY2015Q4	us-gaap	Compensating Balance Amount CompensatingBalanceAmount	500000	USD
CY2015Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	97000	USD
CY2016Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	109000	USD
CY2016Q1	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	58000	USD
CY2015Q3	us-gaap	Restructuring And Related Cost Number Of Positions Eliminated Period Percent RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent	0.3	pure
CY2015Q4	us-gaap	Restructuring And Related Cost Number Of Positions Eliminated Period Percent RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent	0.22	pure
CY2016Q1	us-gaap	Restructuring And Related Cost Incurred Cost RestructuringAndRelatedCostIncurredCost	700000	USD
CY2016Q1	nuot	Deferred Licensing Revenue DeferredLicensingRevenue	101000	USD
CY2016Q1	nuot	Medical Device Excise Tax Percentage MedicalDeviceExciseTaxPercentage	0.023	pure
CY2015Q1	us-gaap	License And Services Revenue LicenseAndServicesRevenue	3000000	USD
CY2016Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	199266489	shares
CY2015Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	201809265	shares
CY2014Q1	us-gaap	Time Deposits At Carrying Value TimeDepositsAtCarryingValue	53000	USD
CY2014Q1	nuot	Time Deposits Annual Interest Rate TimeDepositsAnnualInterestRate	0.0010	pure
CY2016Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	109377	USD
CY2015Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	96748	USD
CY2016Q1	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	4110000	USD
CY2015Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	4110000	USD
CY2016Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1673700	USD
CY2015Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1596606	USD
CY2014Q4	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	34800000	USD
CY2012Q2	nuot	Common Stock Shares To Be Issued CommonStockSharesToBeIssued	325000	shares
CY2016Q1	nuot	Common Stock Shares Issuable CommonStockSharesIssuable	271000	shares
CY2016Q1	dei	Document Type DocumentType	10-Q
CY2016Q1	dei	Amendment Flag AmendmentFlag	false
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-31
CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2016Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2016Q1	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
CY2016Q1	dei	Trading Symbol TradingSymbol	NUOT
CY2016Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	9927112	shares
CY2016Q1	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	909091	shares
CY2015Q4	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	909091	shares
CY2016Q1	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	909091	shares
CY2015Q4	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	909091	shares
CY2016Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2015Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2016Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	425000000	shares
CY2015Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	425000000	shares
CY2016Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	125680100	shares
CY2016Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	125680100	shares
CY2015Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	125680100	shares
CY2015Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	125680100	shares
CY2016Q1	us-gaap	Reorganization Items ReorganizationItems	2690594	USD
CY2015Q1	us-gaap	Reorganization Items ReorganizationItems	0	USD
CY2016Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.04
CY2015Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.02
CY2016Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.04
CY2015Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.02
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	125951100	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	125951100	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	125951100	shares
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	125951100	shares
CY2016Q1	us-gaap	Debt Related Commitment Fees And Debt Issuance Costs DebtRelatedCommitmentFeesAndDebtIssuanceCosts	182519	USD
CY2015Q1	us-gaap	Debt Related Commitment Fees And Debt Issuance Costs DebtRelatedCommitmentFeesAndDebtIssuanceCosts	0	USD
CY2016Q1	us-gaap	Convertible Debt Fair Value Disclosures ConvertibleDebtFairValueDisclosures	25400000	USD
CY2016Q1	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	0	USD
CY2015Q1	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	272847	USD
CY2016Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	0	USD
CY2015Q1	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	95697	USD
CY2016Q1	us-gaap	Plan Of Reorganization Date Plans Filed PlanOfReorganizationDatePlansFiled	2016-01-26
CY2016Q2	us-gaap	Plan Of Reorganization Dates Plan Confirmed PlanOfReorganizationDatesPlanConfirmed	2016-04-25
CY2016Q2	us-gaap	Plan Of Reorganization Dates Plan Is Effective PlanOfReorganizationDatesPlanIsEffective	2016-05-05
CY2016Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-23833	USD
CY2015Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	43803	USD
CY2016Q1	us-gaap	Interest Paid Net InterestPaidNet	0	USD
CY2015Q1	us-gaap	Interest Paid Net InterestPaidNet	0	USD
CY2016Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	USD
CY2015Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	USD
CY2016Q1	us-gaap	Proceeds From Other Short Term Debt ProceedsFromOtherShortTermDebt	2317481	USD
CY2015Q1	us-gaap	Proceeds From Other Short Term Debt ProceedsFromOtherShortTermDebt	0	USD
CY2016Q1	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	0	USD
CY2015Q1	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	1777865	USD
CY2016Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-4870763	USD
CY2015Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	2329136	USD
CY2016Q1	us-gaap	Participating Securities Distributed And Undistributed Earnings Loss Diluted ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted	0	USD
CY2015Q1	us-gaap	Participating Securities Distributed And Undistributed Earnings Loss Diluted ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted	0	USD
CY2016Q1	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
CY2015Q1	us-gaap	Dilutive Securities DilutiveSecurities	0	USD
CY2016Q1	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	116034682	shares
CY2016Q1	us-gaap	Allowance For Doubtful Accounts Receivable Period Increase Decrease AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease	12629	USD
CY2015Q1	us-gaap	Allowance For Doubtful Accounts Receivable Period Increase Decrease AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease	35047	USD
CY2016Q1	us-gaap	Inventory Write Down InventoryWriteDown	0	USD
CY2015Q1	us-gaap	Inventory Write Down InventoryWriteDown	13240	USD
CY2016Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-4870763	USD
CY2015Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	2329136	USD
CY2016Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2015Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2016Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	0	shares
CY2015Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	0	shares
CY2016Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2015Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2016Q1	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	1683829	USD
CY2015Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	1110993	USD
CY2016Q1	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	1574452	USD
CY2015Q4	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	1014245	USD
CY2016Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	2436300	USD
CY2015Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	2513394	USD
CY2016Q1	nuot	Authorized Shares Common And Preferred AuthorizedSharesCommonAndPreferred	440000000	shares
CY2014	us-gaap	Impairment Of Intangible Assets Finitelived ImpairmentOfIntangibleAssetsFinitelived	1000000	USD
CY2016Q1	us-gaap	Restructuring Charges RestructuringCharges	2700000	USD
CY2016Q1	us-gaap	Payments For Restructuring PaymentsForRestructuring	900000	USD
CY2016Q1	nuot	Remaining Accrual For Business Exit Costs RemainingAccrualForBusinessExitCosts	151000	USD
CY2014Q1	nuot	Time Deposits Maturity Date TimeDepositsMaturityDate	2016-10-24
CY2016Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	15000000	shares
CY2016Q1	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	1800000	USD
CY2015Q1	nuot	Deferred Licensing Revenue DeferredLicensingRevenue	101000	USD
CY2013	us-gaap	Proceeds From License Fees Received ProceedsFromLicenseFeesReceived	5000000	USD
CY2012Q2	nuot	Operating Lease Gross Revenue Of Contingent Rent OperatingLeaseGrossRevenueOfContingentRent	10000000	USD
CY2015Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	58000	USD
CY2016Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	685483	USD
CY2015Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	922317	USD
CY2016Q1	us-gaap	Restricted Investments Current RestrictedInvestmentsCurrent	53463	USD
CY2015Q4	us-gaap	Restricted Investments Current RestrictedInvestmentsCurrent	53449	USD
CY2016Q1	us-gaap	Inventory Net InventoryNet	158598	USD
CY2015Q4	us-gaap	Inventory Net InventoryNet	254385	USD
CY2016Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	639509	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	804508	USD
CY2016Q1	us-gaap	Assets Current AssetsCurrent	3111505	USD
CY2015Q4	us-gaap	Assets Current AssetsCurrent	3048904	USD
CY2016Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	983745	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1115214	USD
CY2016Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	372400	USD
CY2015Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	396233	USD
CY2016Q1	us-gaap	Assets Assets	6903950	USD
CY2015Q4	us-gaap	Assets Assets	7073745	USD
CY2016Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	728903	USD
CY2016Q1	us-gaap	Liabilities Subject To Compromise Other Liabilities LiabilitiesSubjectToCompromiseOtherLiabilities	26667	USD
CY2015Q4	us-gaap	Liabilities Subject To Compromise Other Liabilities LiabilitiesSubjectToCompromiseOtherLiabilities	0	USD
CY2016Q1	us-gaap	Liabilities Subject To Compromise LiabilitiesSubjectToCompromise	41789571	USD
CY2015Q4	us-gaap	Liabilities Subject To Compromise LiabilitiesSubjectToCompromise	0	USD
CY2015Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1066766	USD
CY2016Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1553618	USD
CY2015Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2453255	USD
CY2016Q1	us-gaap	Interest Payable Current InterestPayableCurrent	32877	USD
CY2016Q1	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	402357	USD
CY2015Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	523900	USD
CY2016Q1	us-gaap	Convertible Debt Current ConvertibleDebtCurrent	0	USD
CY2015Q4	us-gaap	Convertible Debt Current ConvertibleDebtCurrent	35000000	USD
CY2016Q1	us-gaap	Short Term Non Bank Loans And Notes Payable ShortTermNonBankLoansAndNotesPayable	2500000	USD
CY2015Q4	us-gaap	Short Term Non Bank Loans And Notes Payable ShortTermNonBankLoansAndNotesPayable	0	USD
CY2016Q1	us-gaap	Liabilities Current LiabilitiesCurrent	5217755	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	42187391	USD
CY2016Q1	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	536503	USD
CY2015Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	637097	USD
CY2016Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	249154	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	307058	USD
CY2016Q1	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	785657	USD
CY2015Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	944155	USD
CY2016Q1	nuot	Liabilities Subject To Compromise Accounts Payable LiabilitiesSubjectToCompromiseAccountsPayable	1264167	USD
CY2015Q4	nuot	Liabilities Subject To Compromise Accounts Payable LiabilitiesSubjectToCompromiseAccountsPayable	0	USD
CY2016Q1	nuot	Liabilities Subject To Compromise Accrued Expenses And Liabilities LiabilitiesSubjectToCompromiseAccruedExpensesAndLiabilities	2182616	USD
CY2015Q4	nuot	Liabilities Subject To Compromise Accrued Expenses And Liabilities LiabilitiesSubjectToCompromiseAccruedExpensesAndLiabilities	0	USD
CY2016Q1	us-gaap	Liabilities Subject To Compromise Debt And Accrued Interest LiabilitiesSubjectToCompromiseDebtAndAccruedInterest	3316121	USD
CY2015Q4	us-gaap	Liabilities Subject To Compromise Debt And Accrued Interest LiabilitiesSubjectToCompromiseDebtAndAccruedInterest	0	USD
CY2016Q1	nuot	Liabilities Subject To Compromise Convertible Debt LiabilitiesSubjectToCompromiseConvertibleDebt	35000000	USD
CY2016Q1	nuot	Liabilities Subject To Compromise Derivative Liabilities LiabilitiesSubjectToCompromiseDerivativeLiabilities	0	USD
CY2015Q4	nuot	Liabilities Subject To Compromise Derivative Liabilities LiabilitiesSubjectToCompromiseDerivativeLiabilities	0	USD
CY2016Q1	nuot	Total Liabilities Including Liabilities Subject To Compromise TotalLiabilitiesIncludingLiabilitiesSubjectToCompromise	47792983	USD
CY2015Q4	nuot	Total Liabilities Including Liabilities Subject To Compromise TotalLiabilitiesIncludingLiabilitiesSubjectToCompromise	43131546	USD
CY2016Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2016Q1	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	500000	USD
CY2015Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	500000	USD
CY2016Q1	us-gaap	Common Stock Value CommonStockValue	12477	USD
CY2015Q4	us-gaap	Common Stock Value CommonStockValue	12477	USD
CY2016Q1	nuot	Common Stock Issuable CommonStockIssuable	392950	USD
CY2015Q4	nuot	Common Stock Issuable CommonStockIssuable	392950	USD
CY2016Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	125996259	USD
CY2015Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	125956728	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-167790719	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-162919956	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	-41389033	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	-36557801	USD
CY2016Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	6903950	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	7073745	USD
CY2015Q4	us-gaap	Interest Payable Current InterestPayableCurrent	3143470	USD
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, valuation of derivative liabilities, contingent liabilities, fair value and depreciable lives of long-lived assets (including property and equipment, intangible assets and goodwill), deferred taxes and associated valuation allowance and the classification of our long-term debt. Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Credit Concentration</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i> </i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">We generate accounts receivable from the sale of our products. Our trade receivables balance at March 31, 2016 was primarily from Arthrex (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">58</font>%) and Vibra Healthcare (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font>%). In addition, Arthrex accounted for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 73</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 90</font>% of total products sales in the quarters ended March 31, 2016 and 2015, respectively. No other single customer accounted for more than 10% of total product sales. See Note 9 <i>- Subsequent Events</i>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">During the three month period ending March 31, 2016, we used single suppliers for several components of the Angel and Aurix<sup style="font-style:normal"></sup> product lines. We outsource the manufacturing of various products, including component parts for Angel, to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no assurance that one or more of them will not experience an interruption or inability to provide us with the products needed to satisfy customer demand. Additionally, while most of the components of Aurix<sup style="font-style:normal"></sup> are generally readily available on the open market, a reagent, bovine thrombin, is available exclusively through Pfizer, with whom we have an established vendor relationship.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	us-gaap	Severance Costs1 SeveranceCosts1	500000	USD
CY2015Q4	us-gaap	Deferred Revenue DeferredRevenue	1000000	USD
CY2016Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Note 1 Business and Summary of Significant Accounting Principles</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Description of Business</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On January 26, 2016, Nuo Therapeutics, Inc. (“Nuo Therapeutics,” the “Company,” “we,” “us,” or “our”) filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”), which is being administered under the caption “In re: Nuo Therapeutics, Inc.”, Case No. 16-10192 (MFW) (the “Chapter 11 Case”). As of March 31, 2016, the Company was a “debtor in possession” undergoing a reorganization under Chapter 11.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On April 25, 2016, the Bankruptcy Court entered an Order Granting Final Approval of Disclosure Statement and Confirming Debtor’s Plan of Reorganization, which confirmed our Modified First Amended Plan of Reorganization under Chapter 11 of the Bankruptcy Code (as confirmed, the “Plan” or “Plan of Reorganization”). The Plan became effective on May 5, 2016 (the “Effective Date”). Pursuant to the Plan, as of the Effective Date all equity interests of the Company, including but not limited to all shares of the Company’s common stock, $0.0001 par value per share (including its redeemable common stock)(the “Old Common Stock”), warrants and options, that were issuable or issued and outstanding immediately prior to the Effective Date, were cancelled. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Nuo Therapeutics, Inc. is a biomedical company marketing products primarily within the U.S. We commercialize innovative cell-based technologies that harness the regenerative capacity of the human body to trigger natural healing. The use of autologous (from self) biological therapies for tissue repair and regeneration is part of a transformative clinical strategy designed to improve long term recovery in complex chronic conditions with significant unmet medical needs. Growth drivers in the U.S. include the treatment of chronic wounds with Aurix in the Veterans Affairs healthcare system and other federal accounts settings and the Medicare population under a National Coverage Determination (“NCD”) when registry data is collected under CMS’ Coverage with Evidence Development (CED) program.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016, our commercial offerings consisted of point of care technologies for the safe and efficient separation of autologous blood and bone marrow to produce platelet based therapies or cell concentrates. As of March 31, 2016, we had two distinct platelet rich plasma (“PRP”) devices, the Aurix System for wound care and the Angel® concentrated Platelet Rich Plasma (“cPRP”) System for orthopedics markets. During the three months ended March 31, 2016, Arthrex, Inc. (“Arthrex”) was our exclusive distributor for Angel. See Note 9</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> , including the assignment of our rights with respect to the Angel cPRP System.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history and uncertainty of future profitability and possible fluctuations in financial results. Since our inception, we have financed our operations by raising debt, issuing equity and equity-linked instruments, executing licensing arrangements, and to a lesser extent by generating royalties and product revenues. We have incurred, and continue to incur, recurring losses and negative cash flows. At March 31, 2016 we had cash and cash equivalents on hand of approximately $0.7 million and total debt outstanding of $40.8 million, including accrued interest.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Under our credit facility (the “Deerfield Facility Agreement”) with affiliates of Deerfield Management Company, L.P. (the “Deerfield Lenders” or “Deerfield”), we were required to maintain a compensating cash balance of $5,000,000 in deposit accounts subject to control agreements in favor of the lenders and we were required to pay to Deerfield accrued interest of approximately $2.6 million on October 1, 2015. We were unable to meet these requirements and on both December 4 and 18, 2015 we entered into consent letters with Deerfield to modify the Deerfield Facility Agreement and waive the compliance violations for a limited period. Under the terms of the December 18, 2015 consent letter, (i) solely during the period between December 18, 2015 and January 7, 2016, the amount of cash that is required to be maintained in a deposit account subject to control agreements in favor of the Company’s senior lenders was reduced from $5,000,000 to $500,000 and (ii) the date for payment of the accrued interest amount originally payable on October 1, 2015 was extended to January 7, 2016. The continued effectiveness of the consent letter was conditioned upon the Company’s continued engagement of a chief restructuring officer and providing Deerfield with all relevant business contracts, agreements, and vendor relationships for the Aurix and Angel product lines by December 28, 2015; the Company’s failure to do either would result in an immediate default under the Deerfield Facility Agreement. The consent letter contained various customary representations and warranties, as well as customary provisions relating to other matters.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of January 26, 2016 (the date of our voluntary filing for bankruptcy protection) and March 31, 2016, we were in default under the Deerfield Facility Agreement, and Deerfield had the right to demand repayment of the entire amount owed to them, including accrued interest. As a result of the default and our assessment that we would not be able to cure the causes of the default, as of December 31, 2015 we accelerated the amortization of the debt discount and deferred financing costs associated with the Deerfield credit facility, and at December 31, 2015 we classified the entire Deerfield credit facility as a current liability. The total amount of the Deerfield credit facility, including accrued interest, was compromised by the Bankruptcy Court and, as part of our Plan of Reorganization discussed above, was settled as of the Effective Date through the issuance of 29,038 shares of our Series A preferred stock, par value $0.0001 per share (the “Series A Preferred Stock”) and the assignment to Deerfield of all rights, title, and interest in and to its existing license agreement with Arthrex, including the rights to receive royalty payments. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In connection with the Chapter 11 Case, on January 28, 2016, the Bankruptcy Court entered an order approving our interim debtor-in-possession financing (“DIP Financing”) pursuant to terms set forth in a senior secured, superpriority debtor-in-possession credit agreement (“DIP Credit Agreement”), dated as of January 28, 2016, by and among the Company, as borrower, each lender from time to time party to the DIP Credit Agreement, including, but not limited to Deerfield Private Design Fund II, L.P., Deerfield Private Design International II, L.P., and Deerfield Special Situations Fund, L.P. (collectively, the “Deerfield Lenders”) and Deerfield Mgmt, L.P., as administrative agent (the “DIP Agent”) for the Deerfield Lenders. The Deerfield Lenders comprised 100% of the lenders under the Deerfield Facility Agreement. The final DIP Credit Agreement provided for senior secured loans in the aggregate principal amount of up to $6,000,000 in post-petition financing, of which $2,500,000 was outstanding as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The accompanying condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet our obligations as they become due. After our emergence from bankruptcy on May 5, 2015, we believe our current resources, expected revenue from sales of Aurix, including additional revenue expected to be generated from our collaboration with Restorix Health (“Restorix”), limited royalty and license fee revenue from our license of certain aspects of the ALDH technology to StemCell Technologies for the Aldeflour product line, combined with the $3.0 million of backstop commitments, which is not available until June 30, 2017, will be adequate to maintain our operations through at least the end of 2017 (see Note 9</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ). However, if we are unable to increase our revenues as much as expected or control our costs as effectively as expected, then we may be required to curtail portions of our strategic plan or to cease operations. More specifically, if we are unable to increase revenues or control costs in this manner, we may be forced to delay the completion of, or significantly reduce the scope of, our current business plan; delay some of our development and clinical or marketing efforts; delay our plans to penetrate the market serving Medicare beneficiaries and fulfill the related data gathering requirements as stipulated by the Medicare CED coverage determination; delay the pursuit of commercial insurance reimbursement for our wound treatment technologies; or postpone the hiring of new personnel; or, under certain dire financial circumstances, cease our operations. Specific programs that may require additional funding include, without limitation, continued investment in the sales, marketing, distribution, and customer service areas, further expansion into the international markets, significant new product development or modifications, and pursuit of other opportunities. If adequate capital cannot be obtained on a timely basis and on satisfactory terms, the Company’s operations could be materially negatively impacted.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basis of Presentation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In our opinion, the accompanying unaudited interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows. The condensed consolidated balance sheet at December 31, 2015, has been derived from audited financial statements as of that date. The interim unaudited condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. More specifically, as a result of the application of fresh start accounting and the effects of the implementation of the Plan of Reorganization, the Company’s financial statements on or after May 5, 2016 will not be comparable to the financial statements prior to that date (including those contained in this Quarterly Report).   Fresh-start accounting requires the Company to adjust its assets and liabilities contained in its financial statements immediately before its emergence from bankruptcy protection to their estimated fair values using the acquisition method of accounting.  Those adjustments will be material and will affect the Company’s results of operations from and after May 5, 2016. Certain information and footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to instructions, rules and regulations prescribed by the United States Securities and Exchange Commission, or the SEC. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited interim condensed consolidated financial statements are read in conjunction with the audited financial statements and notes previously distributed in our Annual Report on Form 10-K for the year ended December 31, 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In our accompanying condensed consolidated balance sheets, we have classified our liabilities according to whether they are “subject to compromise” or “not subject to compromise” by the Bankruptcy Court. Liabilities “not subject to compromise” by the Bankruptcy Court are further classified as either current or noncurrent liabilities. Liabilities “subject to compromise” include liabilities incurred before January 26, 2016 (the date of our filing of the voluntary petition for bankruptcy protection) or that became known after the petition was filed. Liabilities “not subject to compromise” include (i) liabilities that are fully secured and not expected to be compromised and (b) liabilities incurred subsequent to the filing of the petition that are not associated with the pre-bankruptcy events (i.e., post-petition liabilities). Because the amounts owed to Deerfield pursuant to the Deerfield Facility Agreement were subject to compromise and, in fact, subsequently were compromised by the Bankruptcy Court, we stopped accruing interest on the debt effective January 26, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></b></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Principles of Consolidation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned and controlled subsidiary Aldagen, Inc. (“Aldagen”). The Company continues to consolidate Aldagen while it is under the protection of the Bankruptcy Court since Aldagen did not file for bankruptcy protection and the Company still controls Aldagen. All significant inter-company accounts and transactions are eliminated in consolidation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016 and December 31, 2015, Aldagen had insignificant assets and liabilities and, accordingly, condensed combined financial statements of Nuo Therapeutics and Aldagen are not presented.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Use of Estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, valuation of derivative liabilities, contingent liabilities, fair value and depreciable lives of long-lived assets (including property and equipment, intangible assets and goodwill), deferred taxes and associated valuation allowance and the classification of our long-term debt. Actual results could differ from those estimates.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Credit Concentration</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We generate accounts receivable from the sale of our products. Our trade receivables balance at March 31, 2016 was primarily from Arthrex (58%) and Vibra Healthcare (10%). In addition, Arthrex accounted for 73% and 90% of total products sales in the quarters ended March 31, 2016 and 2015, respectively. No other single customer accounted for more than 10% of total product sales. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> - Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> During the three month period ending March 31, 2016, we used single suppliers for several components of the Angel and Aurix<sup style="font-style:normal"></sup></font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> product lines. We outsource the manufacturing of various products, including component parts for Angel, to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no assurance that one or more of them will not experience an interruption or inability to provide us with the products needed to satisfy customer demand. Additionally, while most of the components of Aurix<sup style="font-style:normal"></sup></font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> are generally readily available on the open market, a reagent, bovine thrombin, is available exclusively through Pfizer, with whom we have an established vendor relationship.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Cash Equivalents</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We consider all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents potentially subject us to a concentration of credit risk as approximately $424,000 held in financial institutions was in excess of FDIC insurance limit of $250,000 at March 31, 2016. We maintain our cash and cash equivalents in the form of money market and checking accounts with financial institutions that we believe are credit worthy.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Pursuant to the terms of the December 18, 2015 consent letter with Deerfield, we were required to maintain a compensating cash balance of $500,000 in deposit accounts subject to control agreements in favor of the lenders.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Accounts Receivables</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We generate accounts receivables from the sale of our products. We provide for an allowance against receivables for estimated losses that may result from a customer’s inability or unwillingness to pay. The allowance for doubtful accounts is estimated primarily based upon historical write-off percentages, known problem accounts, and current economic conditions. Accounts are written off against the allowance for doubtful accounts when we determine that amounts are not collectable. Recoveries of previously written-off accounts are recorded when collected. At March 31, 2016 and December 31, 2015, we maintained an allowance for doubtful accounts of $109,000 and $97,000, respectively.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Inventory</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our inventory is produced by third party manufacturers and consists of raw materials and finished goods. Inventory cost is determined on a first-in, first-out basis and is stated at the lower of cost or net realizable value. We maintain an inventory of kits, reagents, and other disposables that have shelf-lives that generally range from 18 months to five years.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We provide for an allowance against inventory for estimated losses that may result in excess and obsolete inventory (i.e. from the expiration of products). Our allowance for expired inventory is estimated based upon the inventory’s remaining shelf-life and our anticipated ability to sell such inventory, which is estimated using historical usage and future forecasts, within its remaining shelf life. At March 31, 2016 and December 31, 2015, the Company maintained an allowance for expired and excess and obsolete inventory of $58,000. Expired products are segregated and used for demonstration purposes only; the Company records the associated expense for this reserve to costs of products sales in the condensed consolidated statements of operations.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and Equipment</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and equipment is stated at cost less accumulated depreciation and is depreciated, using the straight-line method, over its estimated useful life ranging from three to five years for all assets except for furniture, lab, and manufacturing equipment which is depreciated over seven and ten years, respectively. Leasehold improvements are stated at cost less accumulated depreciation and are amortized, using the straight-line method, over the lesser of the expected lease term or its estimated useful life ranging from three to six years. Amortization of leasehold improvements is included in depreciation expense. Maintenance and repairs are charged to operations as incurred. When assets are disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in other income (expense).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Centrifuges may be sold, leased, or placed at no charge with customers. Depreciation expense for centrifuges that are available for sale, leased, or placed at no charge with customers are charged to cost of sales. Depreciation expense for centrifuges used for sales and marketing and other internal purposes are charged to general and administrative expenses<b>.</b></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. Recoverability measurement and estimating of undiscounted cash flows is done at the lowest possible level for which we can identify assets. If such assets are considered to be impaired, impairment is recognized as the amount by which the carrying amount of assets exceeds the fair value of the assets. As a result of our bankruptcy filing, we identified changes in circumstances during the three months ended March 31, 2016; however we determined our property and equipment was not impaired as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Intangible Assets and Goodwill </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Intangible assets were acquired as part of our acquisition of the Angel business and Aldagen, and consist of definite-lived and indefinite-lived intangible assets, including goodwill. As of December 31, 2015, we had fully impaired our indefinite lived intangible asset related to in-process research and development (“IPR&D”) while our goodwill was fully written off as of September 30, 2015. The only intangible assets that remained as of March 31, 2016 relate to trademarks, technology and customer relationships arising from our 2010 acquisition of the Angel business from Sorin.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Definite-lived intangible assets</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our definite-lived intangible assets include trademarks, technology (including patents) and customer relationships, and are amortized over their useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indicators were present, we test for recoverability by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. If those net undiscounted cash flows do not exceed the carrying amount (i.e., the asset is not recoverable), we would perform the next step, which is to determine the fair value of the asset and record an impairment loss, if any. We periodically reevaluate the useful lives for these intangible assets to determine whether events and circumstances warrant a revision in their remaining useful lives. During 2014, as a result of changes in circumstances, the Company performed an assessment of our various definite-lived intangible assets and concluded that the carrying value of the definite-lived intangible assets was impaired. An impairment charge, related to the Aldagen trademark, of approximately $1.0 million was taken during the year ended December 31, 2014.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Liabilities Subject to Compromise</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Liabilities subject to compromise as of March 31, 2016 in the accompanying unaudited condensed consolidated financial statements represent unsecured obligations that were to be accounted for under our plan of reorganization. Generally, actions to enforce or otherwise effect payment of prepetition liabilities are stayed. Prepetition liabilities that are subject to compromise are reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. These liabilities represent the amounts expected to be allowed on known or potential claims to be resolved through the Chapter 11 process, and remain subject to future adjustments arising from negotiated settlements, actions of the Bankruptcy Court, rejection of executory contracts and unexpired leases, the determination as to the value of collateral securing the claims, proofs of claim, or other events. Liabilities subject to compromise also include certain items that may be assumed under the plan of reorganization, and as such, may be subsequently reclassified to liabilities not subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Bankruptcy Court has authorized us to pay certain prepetition obligations, including payment of employee wages, salaries and certain benefits and payments to certain shippers and critical vendors, subject to certain limitations. We are required to pay vendors and other providers in the ordinary course for goods and services received after the filing of our Chapter 11 petition and certain other business related payments necessary to maintain the operations of the Company's business. Obligations associated with these matters are not classified as liabilities subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> With the approval of the Bankruptcy Court, the Company has rejected certain prepetition executory contracts and unexpired leases with respect to the Company's operations and may reject additional ones in the future. Damages resulting from rejection of executory contracts and unexpired leases are generally treated as general unsecured claims and are classified as liabilities subject to compromise. Holders of prepetition claims are required to file proofs of claims. Differences between liability amounts estimated by the Company and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination of the allowable claim. The Company used all available information as of March 31, 2016 to estimate the liability amounts. The final determination of how liabilities were treated was ultimately made by the Bankruptcy Court upon its approval of the Company’s Plan of Reorganization on April 25, 2016. Final determination of liability amounts did not result in material variances from the Company’s estimate made as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Reorganization costs during the three month period ending March 31, 2016 were approximately $2.7 million dollars and are reflected as a separate line item on the condensed consolidated statements of operations under other income (expense). Approximately $0.9 million of these expenses were paid during the period ended March 31, 2016, with the balance of the $1.8 million of expenses remaining to be paid as of March 31, 2016 reported in accounts payable or accrued expenses and other liabilities not subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Exit Activities and Realignment</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On May 5, 2014, we announced preliminary efficacy and safety results of our RECOVER-Stroke Phase 2 clinical trial in patients with neurological damage arising from ischemic stroke and treated with ALD-401. Observed improvements in the primary endpoint (mean modified Rankin Score or mRS) of the trial were not clinically or statistically significant. In light of this outcome, we discontinued further funding of the ALD-401 development program, decided to close our facilities in Durham, NC, and terminated certain employees. An accrual of approximately $151,000 for the loss on abandonment of the lease remained at March 31, 2016. The accrued loss on abandonment is being amortized over the life of the lease against future rental payments made and sublease income payments received. Loss on abandonment is classified in general and administrative expense in the accompanying condensed consolidated statements of operations. The accrued loss on abandonment is included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On August 11, 2015, our Board of Directors approved our realignment plan with the goal of preserving and maximizing, for the benefit of our stockholders, the value of our existing assets. The plan eliminated approximately 30% of our workforce and was aimed at the preservation of cash and cash equivalents to finance our future operations and support our revised business objectives. In addition, on December 4, 2015, the Company eliminated approximately 22% of its workforce, or seven employees. The Company recognized severance expense of approximately $0.9 million associated with these reductions in our work force during the year ended December 31, 2015. In addition, in January 2016, the Company eliminated four additional employees and recognized severance expense of approximately $0.5 million in the three months ended March 31, 2016. As of March 31, 2016 approximately $0.7 million remained in accrued severance costs which are reflected in accrued expenses on the condensed consolidated balance sheet.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Conditionally Redeemable Common Stock</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016, the Maryland Venture Fund (“MVF,” part of Maryland Department of Business and Economic Development) had an investment in our Old Common Stock, and could have required us to repurchase the common stock, at MVF’s option, upon certain events outside of our control; provided, however, that in the event that, at the time of either such event our securities were listed on a national securities exchange, the foregoing repurchase would not be triggered. MVF’s common stock is classified as “contingently redeemable common shares” in the accompanying condensed consolidated balance sheets. The contingently redeemable common shares were cancelled as of the Effective Date. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Revenue Recognition</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We recognize revenue when the four basic criteria for recognition are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) consideration is fixed or determinable; and (4) collectability is reasonably assured.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Sales of products</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We provide for the sale of our products, including disposable processing sets and supplies to customers and, prior to the Effective Date, to Arthrex as distributor of the Angel product line. Revenue from the sale of products is recognized upon shipment of products to the customers. We do not maintain a reserve for returned products as in the past those returns have not been material and are not expected to be material in the future.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Usage or leasing of blood separation equipment</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As a result of the acquisition of the Angel business, we acquired various multiple element revenue arrangements that combined the (i) usage or leasing of blood separation processing equipment, (ii) maintenance of processing equipment, and (iii) purchase of disposable processing sets and supplies. We assigned these multiple element revenue arrangements to Arthrex in 2013 pursuant to a license agreement, and further assigned all of our rights, title and interest in and to such license agreement to the Deerfield Lenders as of the Effective Date; as such, we no longer recognize revenue under these arrangements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Percentage-based fees on licensee sales of covered products, including those sold by Arthrex prior to the Effective Date, are generally recorded as products are sold by licensees and are reflected as royalties in the condensed consolidated statements of operations. Direct costs associated with product sales and royalty revenues are recorded at the time that revenue is recognized.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Deferred revenue at March 31, 2016 consists of prepaid licensing revenue of approximately $0.9 million from the licensing of Angel centrifuges. Deferred revenue at December 31, 2015 consists of prepaid licensing revenue of approximately $1.0 million from the licensing of Angel centrifuges and approximately $0.1 million from product sales billed and not yet shipped. Prepaid licensing revenue is being recognized on a straight-line basis over the term of the agreement. Deferred revenue related to products billed and not yet shipped will be recognized when the product is shipped to the customer. Revenue of approximately $101,000 related to the prepaid license was recognized during both the three months ended March 31, 2016 and 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Medical Device Tax</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On January 1, 2013 a medical device excise tax came into effect that required manufacturers to pay tax of 2.3% on the sale of certain medical devices. We report the medical device excise tax on a gross basis, recognizing the tax as both revenue and cost of sales. The medical device excise tax does not apply to the sale of a taxable medical device by the manufacturer, producer, or importer of the device during the period beginning on January 1, 2016, and ending on December 31, 2017.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> License Fees</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company’s license agreement with Rohto (See</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Note 2 Distribution, License and Collaboration Arrangements</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ) contains multiple elements that include the delivered license and other ancillary performance obligations, such as maintaining its intellectual property and providing regulatory support and training to Rohto. The Company has determined that the ancillary performance obligations are perfunctory and incidental and are expected to be minimal and infrequent. Accordingly, the Company has combined the ancillary performance obligations with the delivered license and is recognizing revenue as a single unit of accounting following revenue recognition guidance applicable to the license. Because the license is delivered, the Company recognized the entire $3.0 million license fee as revenue in the three months ended March 31, 2015. Other elements contained in the license agreement, such as fees and royalties related to the supply and future sale of the product, are contingent and will be recognized as revenue when earned.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Segments and Geographic Information</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Approximately 14% and 10% of our product sales were generated outside of the United States for the quarters ended March 31, 2016 and 2015, respectively. We operate in one business segment.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Stock-Based Compensation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company, from time to time, may issue stock options or stock awards to employees, directors, consultants, and other service providers under its 2002 Long-Term Incentive Plan (“LTIP”) or 2013 Equity Incentive Plan (“EIP”). In some cases, it has issued compensatory warrants to service providers outside the LTIP or EIP (See Note 6</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Equity and Stock-Based Compensation</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The fair value of employee stock options is measured at the date of grant. Expected volatilities are based on historical volatility of the Company’s stock. Company data was utilized to estimate option exercises and employee terminations within the valuation model. Expected years until exercise represents the period of time that options are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company estimated that the dividend rate on its common stock will be zero.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Stock-based compensation for awards granted to non-employees is periodically re-measured as the underlying awards vest. The Company recognizes an expense for such awards throughout the performance period as the services are provided by the non-employees, based on the fair value of these options and warrants at each reporting period. The fair value of stock options and compensatory warrants issued to service providers utilizes the same methodology with the exception of the expected term. For awards to non-employees, the Company estimates that the options or warrants will be held for the full term.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> All outstanding stock options were cancelled as of the Effective Date. The Company issued option grants to employees and directors subsequent to the Effective Date for which the stock based compensation expense will be reflected in future periods (see Note 9 </font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Income Taxes</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, current income tax expense or benefit is the amount of income taxes expected to be payable or refundable for the current year. A deferred income tax asset or liability is recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credits and loss carryforwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Tax rate changes are reflected in income during the period such changes are enacted.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For the three months ended March 31, 2015, the income tax provision relates exclusively to a deferred tax liability associated with the amortization for tax purposes of goodwill. The deferred tax liability was eliminated in the third quarter of 2015 with the impairment charge recognized for all our goodwill.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income before taxes. There were no such items for three months ended March 31, 2016 and 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basic and Diluted Earnings (Loss) per Share</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding (including contingently issuable shares when the contingencies have been resolved) during the period.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For periods of net income, and when the effects are not anti-dilutive, diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares outstanding (including contingently issuable shares when the contingencies have been resolved) plus the impact of all potential dilutive common shares, consisting primarily of common stock options and stock purchase warrants using the treasury stock method, and convertible debt using the if-converted method.</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The total number of anti-dilutive shares, common stock options, warrants exercisable for common stock, and convertible debt, which have been excluded from the computation of diluted earnings per share, was 201,809,265 for the quarter ended March 31, 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive. The total number of anti-dilutive shares, common stock options, warrants exercisable for common stock, and convertible debt, which have been excluded from the computation of diluted loss per share, was 199,266,489 for the quarter ended March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Earnings (loss) per share for the three months ended March 31, 2016 and 2015 are calculated for basic and diluted earnings per share as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="6"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Three months ended March 31,</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="2"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2016</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="2"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2015</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; WIDTH: 793.15pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="1058"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Net income (loss)</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 107.55pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="143"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 107pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="143"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 4,107,001</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 10.25pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Net income allocated to participating securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (1,777,865</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 29pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator for basic income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,329,136</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Incremental allocation of net income to participating securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator adjustments for potential dilutive securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator for diluted income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,329,136</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Denominator for basic income (loss) per share weighted average outstanding common shares</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of stock options</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of warrants</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of convertible debt</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Denominator for diluted income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Basic and diluted earnings (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Basic</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (0.04</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.02</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Diluted</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (0.04</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.02</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Recently Adopted Accounting Pronouncements</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In April 2015, the FASB issued guidance as to whether a cloud computing arrangement (e.g., software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements) includes a software license and, based on that determination, how to account for such arrangements. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendment is effective for reporting periods beginning after December 15, 2015 and may be applied on either a prospective or retrospective basis. Early adoption is permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In April 2015, the FASB issued guidance to simplify the balance sheet disclosure for debt issuance costs. Under the guidance, debt issuance costs related to a recognized debt liability will be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, in the same manner as debt discounts, rather than as an asset. The standard is effective for reporting periods beginning after December 15, 2015 and early adoption is permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In September 2015, the FASB issued accounting guidance to simplify the accounting for measurement period adjustments resulting from business combinations. Under the guidance, an acquirer will be required to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are determined. The guidance requires an entity to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. The standard is effective for reporting periods beginning after December 15, 2015. The amendments in this pronouncement should be applied prospectively, with earlier application permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Unadopted Accounting Pronouncements</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In May 2014, the FASB issued guidance for revenue recognition for contracts, superseding the previous revenue recognition requirements, along with most existing industry-specific guidance. The guidance requires an entity to review contracts in five steps: 1) identify the contract, 2) identify performance obligations, 3) determine the transaction price, 4) allocate the transaction price, and 5) recognize revenue. The new standard will result in enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue arising from contracts with customers. In August 2015, the FASB issued guidance approving a one-year deferral, making the standard effective for reporting periods beginning after December 15, 2017, with early adoption permitted only for reporting periods beginning after December 15, 2016. In March 2016, the FASB issued guidance to clarify the implementation guidance on principal versus agent considerations for reporting revenue gross rather than net, with the same deferred effective date. In April 2016, the FASB issued guidance to clarify the implementation guidance on identifying performance obligations and the accounting for licenses of intellectual property, with the same deferred effective date. In May 2016, the FASB issued guidance rescinding SEC paragraphs related to revenue recognition, pursuant to two SEC Staff Announcements at the March 3, 2016 Emerging Issues Task Force meeting. In May 2016, the FASB also issued guidance to clarify the implementation guidance on assessing collectability, presentation of sales tax, noncash consideration, and contracts and contract modifications at transition, with the same effective date. We are currently evaluating the impact, if any, that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In August 2014, the FASB issued guidance for the disclosure of uncertainties about an entity’s ability to continue as a going concern. Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. Previously, there was no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. This was issued to provide guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. We are currently evaluating the impact, if any, that the adoption will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In July 2015, the FASB issued guidance for the accounting for inventory. The main provisions are that an entity should measure inventory within the scope of this update at the lower of cost and net realizable value, except when inventory is measured using LIFO or the retail inventory method. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. In addition, the Board has amended some of the other guidance in Topic 330 to more clearly articulate the requirements for the measurement and disclosure of inventory. The amendments in this update for public business entities are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in this update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We are currently evaluating the impact, if any, that the adoption will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In November 2015, the FASB issued accounting guidance to simplify the presentation of deferred taxes. Previously, U.S. GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts. Under this guidance, deferred tax liabilities and assets will be classified as noncurrent amounts. The standard is effective for reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, that this new accounting pronouncement will have on its consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In February 2016, the FASB issued guidance for accounting for leases. The guidance requires lessees to recognize assets and liabilities related to long-term leases on the balance sheet and expands disclosure requirements regarding leasing arrangements. The guidance is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The guidance must be adopted on a modified retrospective basis and provides for certain practical expedients. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In March 2016, the FASB issued guidance simplifying the accounting for and financial statement disclosure of stock-based compensation awards. Under the guidance, all excess tax benefits and tax deficiencies related to stock-based compensation awards are to be recognized as income tax expenses or benefits in the income statement and excess tax benefits should be classified along with other income tax cash flows in the operating activities section of the statement of cash flows. Under the guidance, companies can also elect to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. In addition, the guidance amends some of the other stock-based compensation awards guidance to more clearly articulate the requirements and cash flow presentation for withholding shares for tax-withholding purposes. The guidance is effective for reporting periods beginning after December 15, 2016 and early adoption is permitted, though all amendments of the guidance must be adopted in the same period. The adoption of certain amendments of the guidance must be applied prospectively, and adoption of the remaining amendments must be applied either on a modified retrospective basis or retrospectively to all periods presented. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In March 2016, the FASB issued guidance to clarify the requirements for assessing whether contingent call or put options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The amendments of this guidance are effective for reporting periods beginning after December 15, 2016, and early adoption is permitted. Entities are required to apply the guidance to existing debt instruments using a modified retrospective transition method as of beginning of the fiscal year of adoption. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not have a material impact on our results of operations, financial position, or cash flows.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

CY2016Q1

dei

Entity Registrant Name

EntityRegistrantName

NUO THERAPEUTICS, INC.

CY2016Q1

dei

Entity Central Index Key

EntityCentralIndexKey

0001091596

CY2016Q1

us-gaap

Sales Revenue Goods Net

SalesRevenueGoodsNet

832779

USD

CY2015Q1

us-gaap

Sales Revenue Goods Net

SalesRevenueGoodsNet

1305765

USD

CY2015Q1

us-gaap

Licenses Revenue

LicensesRevenue

3100595

USD

CY2016Q1

us-gaap

Licenses Revenue

LicensesRevenue

100594

USD

CY2015Q1

us-gaap

Royalty Revenue

RoyaltyRevenue

430767

USD

CY2016Q1

us-gaap

Royalty Revenue

RoyaltyRevenue

474975

USD

CY2015Q1

us-gaap

Cost Of Revenue

CostOfRevenue

2825337

USD

CY2016Q1

us-gaap

Cost Of Revenue

CostOfRevenue

789174

USD

CY2015Q1

us-gaap

Revenues

4837127

USD

CY2016Q1

us-gaap

Cost Of Goods Sold

CostOfGoodsSold

748567

USD

CY2016Q1

us-gaap

Revenues

1408348

USD

CY2015Q1

us-gaap

Cost Of Goods Sold

CostOfGoodsSold

1281151

USD

CY2015Q1

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

4111872

USD

CY2016Q1

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

-4870763

USD

CY2015Q1

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

4871

USD

CY2016Q1

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

0

USD

CY2015Q1

us-gaap

Net Income Loss

NetIncomeLoss

4107001

USD

CY2016Q1

us-gaap

Net Income Loss

NetIncomeLoss

-4870763

USD

CY2016Q1

us-gaap

License Costs

LicenseCosts

0

USD

CY2016Q1

us-gaap

Selling And Marketing Expense

SellingAndMarketingExpense

563810

USD

CY2015Q1

us-gaap

Selling And Marketing Expense

SellingAndMarketingExpense

1822097

USD

CY2015Q1

us-gaap

License Costs

LicenseCosts

1500000

USD

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CY2016Q1

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Increase Decrease In Inventories

IncreaseDecreaseInInventories

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CY2015Q1

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Direct Operating Cost Royalty Expense

DirectOperatingCostRoyaltyExpense

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CY2016Q1

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Direct Operating Cost Royalty Expense

DirectOperatingCostRoyaltyExpense

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CY2015Q1

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Research And Development Expense

ResearchAndDevelopmentExpense

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CY2016Q1

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Research And Development Expense

ResearchAndDevelopmentExpense

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CY2015Q1

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Gross Profit

GrossProfit

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CY2016Q1

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Gross Profit

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CY2015Q1

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General And Administrative Expense

GeneralAndAdministrativeExpense

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CY2016Q1

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General And Administrative Expense

GeneralAndAdministrativeExpense

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CY2015Q1

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Operating Expenses

OperatingExpenses

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CY2016Q1

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Operating Expenses

OperatingExpenses

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CY2015Q1

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Operating Income Loss

OperatingIncomeLoss

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CY2016Q1

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Operating Income Loss

OperatingIncomeLoss

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CY2015Q1

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Interest Income Expense Nonoperating Net

InterestIncomeExpenseNonoperatingNet

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CY2016Q1

us-gaap

Interest Income Expense Nonoperating Net

InterestIncomeExpenseNonoperatingNet

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CY2015Q1

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Gain Loss On Derivative Instruments Net Pretax

GainLossOnDerivativeInstrumentsNetPretax

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CY2016Q1

us-gaap

Gain Loss On Derivative Instruments Net Pretax

GainLossOnDerivativeInstrumentsNetPretax

0

USD

CY2015Q1

us-gaap

Other Nonoperating Income Expense

OtherNonoperatingIncomeExpense

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CY2016Q1

us-gaap

Other Nonoperating Income Expense

OtherNonoperatingIncomeExpense

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CY2015Q1

us-gaap

Nonoperating Income Expense

NonoperatingIncomeExpense

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CY2016Q1

us-gaap

Nonoperating Income Expense

NonoperatingIncomeExpense

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CY2015Q1

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Increase Decrease In Accounts Payable

IncreaseDecreaseInAccountsPayable

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CY2016Q1

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IncreaseDecreaseInAccountsPayable

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CY2015Q1

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Increase Decrease In Accounts And Other Receivables

IncreaseDecreaseInAccountsAndOtherReceivables

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CY2016Q1

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Increase Decrease In Accounts And Other Receivables

IncreaseDecreaseInAccountsAndOtherReceivables

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CY2015Q1

us-gaap

Increase Decrease In Prepaid Deferred Expense And Other Assets

IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets

151774

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CY2016Q1

us-gaap

Increase Decrease In Prepaid Deferred Expense And Other Assets

IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets

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CY2015Q1

us-gaap

Increase Decrease In Deferred Revenue

IncreaseDecreaseInDeferredRevenue

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CY2016Q1

us-gaap

Increase Decrease In Deferred Revenue

IncreaseDecreaseInDeferredRevenue

-222137

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CY2015Q1

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

-24926

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CY2016Q1

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

-31237

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CY2015Q1

us-gaap

Net Cash Provided By Used In Operating Activities Continuing Operations

NetCashProvidedByUsedInOperatingActivitiesContinuingOperations

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CY2016Q1

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Net Cash Provided By Used In Operating Activities Continuing Operations

NetCashProvidedByUsedInOperatingActivitiesContinuingOperations

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CY2015Q1

us-gaap

Payments To Acquire Property Plant And Equipment

PaymentsToAcquirePropertyPlantAndEquipment

165817

USD

CY2016Q1

us-gaap

Payments To Acquire Property Plant And Equipment

PaymentsToAcquirePropertyPlantAndEquipment

0

USD

CY2015Q1

us-gaap

Net Cash Provided By Used In Investing Activities Continuing Operations

NetCashProvidedByUsedInInvestingActivitiesContinuingOperations

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USD

CY2016Q1

us-gaap

Net Cash Provided By Used In Investing Activities Continuing Operations

NetCashProvidedByUsedInInvestingActivitiesContinuingOperations

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USD

CY2015Q1

us-gaap

Net Cash Provided By Used In Financing Activities Continuing Operations

NetCashProvidedByUsedInFinancingActivitiesContinuingOperations

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USD

CY2016Q1

us-gaap

Net Cash Provided By Used In Financing Activities Continuing Operations

NetCashProvidedByUsedInFinancingActivitiesContinuingOperations

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USD

CY2015Q1

us-gaap

Cash And Cash Equivalents Period Increase Decrease

CashAndCashEquivalentsPeriodIncreaseDecrease

-4127534

USD

CY2016Q1

us-gaap

Cash And Cash Equivalents Period Increase Decrease

CashAndCashEquivalentsPeriodIncreaseDecrease

-236834

USD

CY2014Q4

us-gaap

Cash

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USD

CY2015Q4

us-gaap

Cash

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USD

CY2015Q1

us-gaap

Cash

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CY2016Q1

us-gaap

Cash

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USD

CY2016Q1

us-gaap

Share Based Compensation

ShareBasedCompensation

39531

USD

CY2015Q1

us-gaap

Share Based Compensation

ShareBasedCompensation

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USD

CY2016Q1

us-gaap

Depreciation Depletion And Amortization

DepreciationDepletionAndAmortization

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USD

CY2015Q1

us-gaap

Depreciation Depletion And Amortization

DepreciationDepletionAndAmortization

168993

USD

CY2016Q1

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

0

USD

CY2015Q1

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

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CY2016Q1

us-gaap

Increase Decrease In Accrued Liabilities

IncreaseDecreaseInAccruedLiabilities

1282979

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CY2015Q1

us-gaap

Increase Decrease In Accrued Liabilities

IncreaseDecreaseInAccruedLiabilities

-196225

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CY2016Q1

us-gaap

Increase Decrease In Interest Payable Net

IncreaseDecreaseInInterestPayableNet

205528

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CY2015Q1

us-gaap

Increase Decrease In Interest Payable Net

IncreaseDecreaseInInterestPayableNet

511095

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CY2016Q1

us-gaap

Long Term Debt

LongTermDebt

40800000

USD

CY2016Q1

nuot

Fdic Insurance Limit

FdicInsuranceLimit

250000

USD

CY2015Q4

us-gaap

Compensating Balance Amount

CompensatingBalanceAmount

500000

USD

CY2015Q4

us-gaap

Allowance For Doubtful Accounts Receivable

AllowanceForDoubtfulAccountsReceivable

97000

USD

CY2016Q1

us-gaap

Allowance For Doubtful Accounts Receivable

AllowanceForDoubtfulAccountsReceivable

109000

USD

CY2016Q1

us-gaap

Inventory Valuation Reserves

InventoryValuationReserves

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CY2015Q3

us-gaap

Restructuring And Related Cost Number Of Positions Eliminated Period Percent

RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent

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CY2015Q4

us-gaap

Restructuring And Related Cost Number Of Positions Eliminated Period Percent

RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent

0.22

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CY2016Q1

us-gaap

Restructuring And Related Cost Incurred Cost

RestructuringAndRelatedCostIncurredCost

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CY2016Q1

nuot

Deferred Licensing Revenue

DeferredLicensingRevenue

101000

USD

CY2016Q1

nuot

Medical Device Excise Tax Percentage

MedicalDeviceExciseTaxPercentage

0.023

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CY2015Q1

us-gaap

License And Services Revenue

LicenseAndServicesRevenue

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CY2016Q1

us-gaap

Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount

AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

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shares

CY2015Q1

us-gaap

Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount

AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

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CY2014Q1

us-gaap

Time Deposits At Carrying Value

TimeDepositsAtCarryingValue

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USD

CY2014Q1

nuot

Time Deposits Annual Interest Rate

TimeDepositsAnnualInterestRate

0.0010

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CY2016Q1

us-gaap

Allowance For Doubtful Accounts Receivable Current

AllowanceForDoubtfulAccountsReceivableCurrent

109377

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CY2015Q4

us-gaap

Allowance For Doubtful Accounts Receivable Current

AllowanceForDoubtfulAccountsReceivableCurrent

96748

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CY2016Q1

us-gaap

Intangible Assets Gross Excluding Goodwill

IntangibleAssetsGrossExcludingGoodwill

4110000

USD

CY2015Q4

us-gaap

Intangible Assets Gross Excluding Goodwill

IntangibleAssetsGrossExcludingGoodwill

4110000

USD

CY2016Q1

us-gaap

Finite Lived Intangible Assets Accumulated Amortization

FiniteLivedIntangibleAssetsAccumulatedAmortization

1673700

USD

CY2015Q4

us-gaap

Finite Lived Intangible Assets Accumulated Amortization

FiniteLivedIntangibleAssetsAccumulatedAmortization

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USD

CY2014Q4

us-gaap

Debt Instrument Unamortized Discount

DebtInstrumentUnamortizedDiscount

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USD

CY2012Q2

nuot

Common Stock Shares To Be Issued

CommonStockSharesToBeIssued

325000

shares

CY2016Q1

nuot

Common Stock Shares Issuable

CommonStockSharesIssuable

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CY2016Q1

dei

Document Type

DocumentType

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CY2016Q1

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Amendment Flag

AmendmentFlag

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CY2016Q1

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Document Period End Date

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CY2016Q1

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Document Fiscal Year Focus

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2016

CY2016Q1

dei

Document Fiscal Period Focus

DocumentFiscalPeriodFocus

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CY2016Q1

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CY2016Q1

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Entity Filer Category

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CY2016Q1

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Trading Symbol

TradingSymbol

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CY2016Q4

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Entity Common Stock Shares Outstanding

EntityCommonStockSharesOutstanding

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CY2016Q1

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Temporary Equity Shares Issued

TemporaryEquitySharesIssued

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CY2015Q4

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Temporary Equity Shares Issued

TemporaryEquitySharesIssued

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CY2016Q1

us-gaap

Temporary Equity Shares Outstanding

TemporaryEquitySharesOutstanding

909091

shares

CY2015Q4

us-gaap

Temporary Equity Shares Outstanding

TemporaryEquitySharesOutstanding

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CY2016Q1

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

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CY2015Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

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CY2016Q1

us-gaap

Common Stock Shares Authorized

CommonStockSharesAuthorized

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shares

CY2015Q4

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Common Stock Shares Authorized

CommonStockSharesAuthorized

425000000

shares

CY2016Q1

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Common Stock Shares Issued

CommonStockSharesIssued

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shares

CY2016Q1

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Common Stock Shares Outstanding

CommonStockSharesOutstanding

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CY2015Q4

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Common Stock Shares Issued

CommonStockSharesIssued

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CY2015Q4

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Common Stock Shares Outstanding

CommonStockSharesOutstanding

125680100

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CY2016Q1

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Reorganization Items

ReorganizationItems

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CY2015Q1

us-gaap

Reorganization Items

ReorganizationItems

0

USD

CY2016Q1

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

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CY2015Q1

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Earnings Per Share Basic

EarningsPerShareBasic

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CY2016Q1

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Earnings Per Share Diluted

EarningsPerShareDiluted

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CY2015Q1

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Earnings Per Share Diluted

EarningsPerShareDiluted

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CY2016Q1

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Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

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CY2015Q1

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Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

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CY2016Q1

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Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

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shares

CY2015Q1

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Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

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CY2016Q1

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Debt Related Commitment Fees And Debt Issuance Costs

DebtRelatedCommitmentFeesAndDebtIssuanceCosts

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CY2015Q1

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Debt Related Commitment Fees And Debt Issuance Costs

DebtRelatedCommitmentFeesAndDebtIssuanceCosts

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USD

CY2016Q1

us-gaap

Convertible Debt Fair Value Disclosures

ConvertibleDebtFairValueDisclosures

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USD

CY2016Q1

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Amortization Of Deferred Charges

AmortizationOfDeferredCharges

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USD

CY2015Q1

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Amortization Of Deferred Charges

AmortizationOfDeferredCharges

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CY2016Q1

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Amortization Of Debt Discount Premium

AmortizationOfDebtDiscountPremium

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USD

CY2015Q1

us-gaap

Amortization Of Debt Discount Premium

AmortizationOfDebtDiscountPremium

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CY2016Q1

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Plan Of Reorganization Date Plans Filed

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CY2016Q2

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2016-04-25

CY2016Q2

us-gaap

Plan Of Reorganization Dates Plan Is Effective

PlanOfReorganizationDatesPlanIsEffective

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CY2016Q1

us-gaap

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IncreaseDecreaseInOtherOperatingAssets

-23833

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CY2015Q1

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

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USD

CY2016Q1

us-gaap

Interest Paid Net

InterestPaidNet

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USD

CY2015Q1

us-gaap

Interest Paid Net

InterestPaidNet

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USD

CY2016Q1

us-gaap

Income Taxes Paid Net

IncomeTaxesPaidNet

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USD

CY2015Q1

us-gaap

Income Taxes Paid Net

IncomeTaxesPaidNet

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USD

CY2016Q1

us-gaap

Proceeds From Other Short Term Debt

ProceedsFromOtherShortTermDebt

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CY2015Q1

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Proceeds From Other Short Term Debt

ProceedsFromOtherShortTermDebt

0

USD

CY2016Q1

us-gaap

Preferred Stock Dividends And Other Adjustments

PreferredStockDividendsAndOtherAdjustments

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USD

CY2015Q1

us-gaap

Preferred Stock Dividends And Other Adjustments

PreferredStockDividendsAndOtherAdjustments

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CY2016Q1

us-gaap

Net Income Loss Available To Common Stockholders Basic

NetIncomeLossAvailableToCommonStockholdersBasic

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CY2015Q1

us-gaap

Net Income Loss Available To Common Stockholders Basic

NetIncomeLossAvailableToCommonStockholdersBasic

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CY2016Q1

us-gaap

Participating Securities Distributed And Undistributed Earnings Loss Diluted

ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted

0

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CY2015Q1

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Participating Securities Distributed And Undistributed Earnings Loss Diluted

ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted

0

USD

CY2016Q1

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Dilutive Securities

DilutiveSecurities

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CY2015Q1

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Dilutive Securities

DilutiveSecurities

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CY2016Q1

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Class Of Warrant Or Right Outstanding

ClassOfWarrantOrRightOutstanding

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CY2016Q1

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Allowance For Doubtful Accounts Receivable Period Increase Decrease

AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease

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CY2015Q1

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Allowance For Doubtful Accounts Receivable Period Increase Decrease

AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease

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CY2016Q1

us-gaap

Inventory Write Down

InventoryWriteDown

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CY2015Q1

us-gaap

Inventory Write Down

InventoryWriteDown

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CY2016Q1

us-gaap

Net Income Loss Available To Common Stockholders Diluted

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CY2015Q1

us-gaap

Net Income Loss Available To Common Stockholders Diluted

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CY2016Q1

us-gaap

Incremental Common Shares Attributable To Share Based Payment Arrangements

IncrementalCommonSharesAttributableToShareBasedPaymentArrangements

0

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CY2015Q1

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Incremental Common Shares Attributable To Share Based Payment Arrangements

IncrementalCommonSharesAttributableToShareBasedPaymentArrangements

0

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CY2016Q1

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Incremental Common Shares Attributable To Call Options And Warrants

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0

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CY2015Q1

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Incremental Common Shares Attributable To Call Options And Warrants

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0

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CY2016Q1

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Incremental Common Shares Attributable To Conversion Of Debt Securities

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0

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CY2015Q1

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Incremental Common Shares Attributable To Conversion Of Debt Securities

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0

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CY2016Q1

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Accounts Receivable Gross Current

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CY2015Q4

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Accounts Receivable Gross Current

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CY2016Q1

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Accounts And Other Receivables Net Current

AccountsAndOtherReceivablesNetCurrent

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CY2015Q4

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Accounts And Other Receivables Net Current

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CY2016Q1

us-gaap

Intangible Assets Net Excluding Goodwill

IntangibleAssetsNetExcludingGoodwill

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CY2015Q4

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Intangible Assets Net Excluding Goodwill

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CY2016Q1

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Authorized Shares Common And Preferred

AuthorizedSharesCommonAndPreferred

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Impairment Of Intangible Assets Finitelived

ImpairmentOfIntangibleAssetsFinitelived

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CY2016Q1

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Restructuring Charges

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CY2016Q1

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Payments For Restructuring

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CY2016Q1

nuot

Remaining Accrual For Business Exit Costs

RemainingAccrualForBusinessExitCosts

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USD

CY2014Q1

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Time Deposits Maturity Date

TimeDepositsMaturityDate

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Preferred Stock Shares Authorized

PreferredStockSharesAuthorized

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CY2016Q1

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Accounts Payable And Accrued Liabilities Current And Noncurrent

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CY2015Q1

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Deferred Licensing Revenue

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Proceeds From License Fees Received

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Operating Lease Gross Revenue Of Contingent Rent

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CY2015Q4

us-gaap

Inventory Valuation Reserves

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58000

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CY2016Q1

us-gaap

Cash And Cash Equivalents At Carrying Value

CashAndCashEquivalentsAtCarryingValue

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CY2015Q4

us-gaap

Cash And Cash Equivalents At Carrying Value

CashAndCashEquivalentsAtCarryingValue

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CY2016Q1

us-gaap

Restricted Investments Current

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CY2015Q4

us-gaap

Restricted Investments Current

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CY2016Q1

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Inventory Net

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Inventory Net

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CY2016Q1

us-gaap

Prepaid Expense And Other Assets Current

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CY2015Q4

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CY2015Q4

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Assets Current

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CY2016Q1

us-gaap

Property Plant And Equipment Net

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CY2015Q4

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Property Plant And Equipment Net

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CY2016Q1

us-gaap

Other Assets Noncurrent

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CY2015Q4

us-gaap

Other Assets Noncurrent

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CY2016Q1

us-gaap

Assets

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CY2015Q4

us-gaap

Assets

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CY2016Q1

us-gaap

Accounts Payable Current

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CY2016Q1

us-gaap

Liabilities Subject To Compromise Other Liabilities

LiabilitiesSubjectToCompromiseOtherLiabilities

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CY2015Q4

us-gaap

Liabilities Subject To Compromise Other Liabilities

LiabilitiesSubjectToCompromiseOtherLiabilities

0

USD

CY2016Q1

us-gaap

Liabilities Subject To Compromise

LiabilitiesSubjectToCompromise

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CY2015Q4

us-gaap

Liabilities Subject To Compromise

LiabilitiesSubjectToCompromise

0

USD

CY2015Q4

us-gaap

Accounts Payable Current

AccountsPayableCurrent

1066766

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CY2016Q1

us-gaap

Accrued Liabilities Current

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CY2015Q4

us-gaap

Accrued Liabilities Current

AccruedLiabilitiesCurrent

2453255

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CY2016Q1

us-gaap

Interest Payable Current

InterestPayableCurrent

32877

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CY2016Q1

us-gaap

Deferred Revenue Current

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CY2015Q4

us-gaap

Deferred Revenue Current

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CY2016Q1

us-gaap

Convertible Debt Current

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CY2015Q4

us-gaap

Convertible Debt Current

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CY2016Q1

us-gaap

Short Term Non Bank Loans And Notes Payable

ShortTermNonBankLoansAndNotesPayable

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CY2015Q4

us-gaap

Short Term Non Bank Loans And Notes Payable

ShortTermNonBankLoansAndNotesPayable

0

USD

CY2016Q1

us-gaap

Liabilities Current

LiabilitiesCurrent

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CY2015Q4

us-gaap

Liabilities Current

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CY2016Q1

us-gaap

Deferred Revenue Noncurrent

DeferredRevenueNoncurrent

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CY2015Q4

us-gaap

Deferred Revenue Noncurrent

DeferredRevenueNoncurrent

637097

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CY2016Q1

us-gaap

Other Liabilities Noncurrent

OtherLiabilitiesNoncurrent

249154

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CY2015Q4

us-gaap

Other Liabilities Noncurrent

OtherLiabilitiesNoncurrent

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CY2016Q1

us-gaap

Liabilities Noncurrent

LiabilitiesNoncurrent

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USD

CY2015Q4

us-gaap

Liabilities Noncurrent

LiabilitiesNoncurrent

944155

USD

CY2016Q1

nuot

Liabilities Subject To Compromise Accounts Payable

LiabilitiesSubjectToCompromiseAccountsPayable

1264167

USD

CY2015Q4

nuot

Liabilities Subject To Compromise Accounts Payable

LiabilitiesSubjectToCompromiseAccountsPayable

0

USD

CY2016Q1

nuot

Liabilities Subject To Compromise Accrued Expenses And Liabilities

LiabilitiesSubjectToCompromiseAccruedExpensesAndLiabilities

2182616

USD

CY2015Q4

nuot

Liabilities Subject To Compromise Accrued Expenses And Liabilities

LiabilitiesSubjectToCompromiseAccruedExpensesAndLiabilities

0

USD

CY2016Q1

us-gaap

Liabilities Subject To Compromise Debt And Accrued Interest

LiabilitiesSubjectToCompromiseDebtAndAccruedInterest

3316121

USD

CY2015Q4

us-gaap

Liabilities Subject To Compromise Debt And Accrued Interest

LiabilitiesSubjectToCompromiseDebtAndAccruedInterest

0

USD

CY2016Q1

nuot

Liabilities Subject To Compromise Convertible Debt

LiabilitiesSubjectToCompromiseConvertibleDebt

35000000

USD

CY2016Q1

nuot

Liabilities Subject To Compromise Derivative Liabilities

LiabilitiesSubjectToCompromiseDerivativeLiabilities

0

USD

CY2015Q4

nuot

Liabilities Subject To Compromise Derivative Liabilities

LiabilitiesSubjectToCompromiseDerivativeLiabilities

0

USD

CY2016Q1

nuot

Total Liabilities Including Liabilities Subject To Compromise

TotalLiabilitiesIncludingLiabilitiesSubjectToCompromise

47792983

USD

CY2015Q4

nuot

Total Liabilities Including Liabilities Subject To Compromise

TotalLiabilitiesIncludingLiabilitiesSubjectToCompromise

43131546

USD

CY2016Q1

us-gaap

Commitments And Contingencies

CommitmentsAndContingencies

USD

CY2015Q4

us-gaap

Commitments And Contingencies

CommitmentsAndContingencies

USD

CY2016Q1

us-gaap

Temporary Equity Carrying Amount Attributable To Parent

TemporaryEquityCarryingAmountAttributableToParent

500000

USD

CY2015Q4

us-gaap

Temporary Equity Carrying Amount Attributable To Parent

TemporaryEquityCarryingAmountAttributableToParent

500000

USD

CY2016Q1

us-gaap

Common Stock Value

CommonStockValue

12477

USD

CY2015Q4

us-gaap

Common Stock Value

CommonStockValue

12477

USD

CY2016Q1

nuot

Common Stock Issuable

CommonStockIssuable

392950

USD

CY2015Q4

nuot

Common Stock Issuable

CommonStockIssuable

392950

USD

CY2016Q1

us-gaap

Additional Paid In Capital

AdditionalPaidInCapital

125996259

USD

CY2015Q4

us-gaap

Additional Paid In Capital

AdditionalPaidInCapital

125956728

USD

CY2016Q1

us-gaap

Retained Earnings Accumulated Deficit

RetainedEarningsAccumulatedDeficit

-167790719

USD

CY2015Q4

us-gaap

Retained Earnings Accumulated Deficit

RetainedEarningsAccumulatedDeficit

-162919956

USD

CY2016Q1

us-gaap

Stockholders Equity

StockholdersEquity

-41389033

USD

CY2015Q4

us-gaap

Stockholders Equity

StockholdersEquity

-36557801

USD

CY2016Q1

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

6903950

USD

CY2015Q4

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

7073745

USD

CY2015Q4

us-gaap

Interest Payable Current

InterestPayableCurrent

3143470

USD

CY2016Q1

us-gaap

Use Of Estimates

UseOfEstimates

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, valuation of derivative liabilities, contingent liabilities, fair value and depreciable lives of long-lived assets (including property and equipment, intangible assets and goodwill), deferred taxes and associated valuation allowance and the classification of our long-term debt. Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

CY2016Q1

us-gaap

Concentration Risk Credit Risk

ConcentrationRiskCreditRisk

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Credit Concentration</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i> </i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">We generate accounts receivable from the sale of our products. Our trade receivables balance at March 31, 2016 was primarily from Arthrex (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">58</font>%) and Vibra Healthcare (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font>%). In addition, Arthrex accounted for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 73</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 90</font>% of total products sales in the quarters ended March 31, 2016 and 2015, respectively. No other single customer accounted for more than 10% of total product sales. See Note 9 <i>- Subsequent Events</i>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">During the three month period ending March 31, 2016, we used single suppliers for several components of the Angel and Aurix<sup style="font-style:normal"></sup> product lines. We outsource the manufacturing of various products, including component parts for Angel, to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no assurance that one or more of them will not experience an interruption or inability to provide us with the products needed to satisfy customer demand. Additionally, while most of the components of Aurix<sup style="font-style:normal"></sup> are generally readily available on the open market, a reagent, bovine thrombin, is available exclusively through Pfizer, with whom we have an established vendor relationship.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

CY2016Q1

us-gaap

Severance Costs1

SeveranceCosts1

500000

USD

CY2015Q4

us-gaap

Deferred Revenue

DeferredRevenue

1000000

USD

CY2016Q1

us-gaap

Nature Of Operations

NatureOfOperations

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Note 1  Business and Summary of Significant Accounting Principles</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Description of Business</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On January 26, 2016, Nuo Therapeutics, Inc. (“Nuo Therapeutics,” the “Company,” “we,” “us,” or “our”) filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”), which is being administered under the caption “In re: Nuo Therapeutics, Inc.”, Case No. 16-10192 (MFW) (the “Chapter 11 Case”). As of March 31, 2016, the Company was a “debtor in possession” undergoing a reorganization under Chapter 11.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On April 25, 2016, the Bankruptcy Court entered an Order Granting Final Approval of Disclosure Statement and Confirming Debtor’s Plan of Reorganization, which confirmed our Modified First Amended Plan of Reorganization under Chapter 11 of the Bankruptcy Code (as confirmed, the “Plan” or “Plan of Reorganization”). The Plan became effective on May 5, 2016 (the “Effective Date”). Pursuant to the Plan, as of the Effective Date all equity interests of the Company, including but not limited to all shares of the Company’s common stock, $0.0001 par value per share (including its redeemable common stock)(the “Old Common Stock”), warrants and options, that were issuable or issued and outstanding immediately prior to the Effective Date, were cancelled. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Nuo Therapeutics, Inc. is a biomedical company marketing products primarily within the U.S. We commercialize innovative cell-based technologies that harness the regenerative capacity of the human body to trigger natural healing. The use of autologous (from self) biological therapies for tissue repair and regeneration is part of a transformative clinical strategy designed to improve long term recovery in complex chronic conditions with significant unmet medical needs. Growth drivers in the U.S. include the treatment of chronic wounds with Aurix in the Veterans Affairs healthcare system and other federal accounts settings and the Medicare population under a National Coverage Determination (“NCD”) when registry data is collected under CMS’ Coverage with Evidence Development (CED) program.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016, our commercial offerings consisted of point of care technologies for the safe and efficient separation of autologous blood and bone marrow to produce platelet based therapies or cell concentrates. As of March 31, 2016, we had two distinct platelet rich plasma (“PRP”) devices, the Aurix System for wound care and the Angel® concentrated Platelet Rich Plasma (“cPRP”) System for orthopedics markets. During the three months ended March 31, 2016, Arthrex, Inc. (“Arthrex”) was our exclusive distributor for Angel. See Note 9</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> , including the assignment of our rights with respect to the Angel cPRP System.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history and uncertainty of future profitability and possible fluctuations in financial results. Since our inception, we have financed our operations by raising debt, issuing equity and equity-linked instruments, executing licensing arrangements, and to a lesser extent by generating royalties and product revenues. We have incurred, and continue to incur, recurring losses and negative cash flows. At March 31, 2016 we had cash and cash equivalents on hand of approximately $0.7 million and total debt outstanding of $40.8 million, including accrued interest.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Under our credit facility (the “Deerfield Facility Agreement”) with affiliates of Deerfield Management Company, L.P. (the “Deerfield Lenders” or “Deerfield”), we were required to maintain a compensating cash balance of $5,000,000 in deposit accounts subject to control agreements in favor of the lenders and we were required to pay to Deerfield accrued interest of approximately $2.6 million on October 1, 2015. We were unable to meet these requirements and on both December 4 and 18, 2015 we entered into consent letters with Deerfield to modify the Deerfield Facility Agreement and waive the compliance violations for a limited period. Under the terms of the December 18, 2015 consent letter, (i) solely during the period between December 18, 2015 and January 7, 2016, the amount of cash that is required to be maintained in a deposit account subject to control agreements in favor of the Company’s senior lenders was reduced from $5,000,000 to $500,000 and (ii) the date for payment of the accrued interest amount originally payable on October 1, 2015 was extended to January 7, 2016. The continued effectiveness of the consent letter was conditioned upon the Company’s continued engagement of a chief restructuring officer and providing Deerfield with all relevant business contracts, agreements, and vendor relationships for the Aurix and Angel product lines by December 28, 2015; the Company’s failure to do either would result in an immediate default under the Deerfield Facility Agreement. The consent letter contained various customary representations and warranties, as well as customary provisions relating to other matters.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of January 26, 2016 (the date of our voluntary filing for bankruptcy protection) and March 31, 2016, we were in default under the Deerfield Facility Agreement, and Deerfield had the right to demand repayment of the entire amount owed to them, including accrued interest. As a result of the default and our assessment that we would not be able to cure the causes of the default, as of December 31, 2015 we accelerated the amortization of the debt discount and deferred financing costs associated with the Deerfield credit facility, and at December 31, 2015 we classified the entire Deerfield credit facility as a current liability. The total amount of the Deerfield credit facility, including accrued interest, was compromised by the Bankruptcy Court and, as part of our Plan of Reorganization discussed above, was settled as of the Effective Date through the issuance of 29,038 shares of our Series A preferred stock, par value $0.0001 per share (the “Series A Preferred Stock”) and the assignment to Deerfield of all rights, title, and interest in and to its existing license agreement with Arthrex, including the rights to receive royalty payments. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In connection with the Chapter 11 Case, on January 28, 2016, the Bankruptcy Court entered an order approving our interim debtor-in-possession financing (“DIP Financing”) pursuant to terms set forth in a senior secured, superpriority debtor-in-possession credit agreement (“DIP Credit Agreement”), dated as of January 28, 2016, by and among the Company, as borrower, each lender from time to time party to the DIP Credit Agreement, including, but not limited to Deerfield Private Design Fund II, L.P., Deerfield Private Design International II, L.P., and Deerfield Special Situations Fund, L.P. (collectively, the “Deerfield Lenders”) and Deerfield Mgmt, L.P., as administrative agent (the “DIP Agent”) for the Deerfield Lenders. The Deerfield Lenders comprised 100% of the lenders under the Deerfield Facility Agreement. The final DIP Credit Agreement provided for senior secured loans in the aggregate principal amount of up to $6,000,000 in post-petition financing, of which $2,500,000 was outstanding as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The accompanying condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet our obligations as they become due. After our emergence from bankruptcy on May 5, 2015, we believe our current resources, expected revenue from sales of Aurix, including additional revenue expected to be generated from our collaboration with Restorix Health (“Restorix”), limited royalty and license fee revenue from our license of certain aspects of the ALDH technology to StemCell Technologies for the Aldeflour product line, combined with the $3.0 million of backstop commitments, which is not available until June 30, 2017, will be adequate to maintain our operations through at least the end of 2017 (see Note 9</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ). However, if we are unable to increase our revenues as much as expected or control our costs as effectively as expected, then we may be required to curtail portions of our strategic plan or to cease operations. More specifically, if we are unable to increase revenues or control costs in this manner, we may be forced to delay the completion of, or significantly reduce the scope of, our current business plan; delay some of our development and clinical or marketing efforts; delay our plans to penetrate the market serving Medicare beneficiaries and fulfill the related data gathering requirements as stipulated by the Medicare CED coverage determination; delay the pursuit of commercial insurance reimbursement for our wound treatment technologies; or postpone the hiring of new personnel; or, under certain dire financial circumstances, cease our operations. Specific programs that may require additional funding include, without limitation, continued investment in the sales, marketing, distribution, and customer service areas, further expansion into the international markets, significant new product development or modifications, and pursuit of other opportunities. If adequate capital cannot be obtained on a timely basis and on satisfactory terms, the Company’s operations could be materially negatively impacted.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basis of Presentation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In our opinion, the accompanying unaudited interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows. The condensed consolidated balance sheet at December 31, 2015, has been derived from audited financial statements as of that date. The interim unaudited condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. More specifically, as a result of the application of fresh start accounting and the effects of the implementation of the Plan of Reorganization, the Company’s financial statements on or after May 5, 2016 will not be comparable to the financial statements prior to that date (including those contained in this Quarterly Report).   Fresh-start accounting requires the Company to adjust its assets and liabilities contained in its financial statements immediately before its emergence from bankruptcy protection to their estimated fair values using the acquisition method of accounting.  Those adjustments will be material and will affect the Company’s results of operations from and after May 5, 2016. Certain information and footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to instructions, rules and regulations prescribed by the United States Securities and Exchange Commission, or the SEC. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited interim condensed consolidated financial statements are read in conjunction with the audited financial statements and notes previously distributed in our Annual Report on Form 10-K for the year ended December 31, 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In our accompanying condensed consolidated balance sheets, we have classified our liabilities according to whether they are “subject to compromise” or “not subject to compromise” by the Bankruptcy Court. Liabilities “not subject to compromise” by the Bankruptcy Court are further classified as either current or noncurrent liabilities. Liabilities “subject to compromise” include liabilities incurred before January 26, 2016 (the date of our filing of the voluntary petition for bankruptcy protection) or that became known after the petition was filed. Liabilities “not subject to compromise” include (i) liabilities that are fully secured and not expected to be compromised and (b) liabilities incurred subsequent to the filing of the petition that are not associated with the pre-bankruptcy events (i.e., post-petition liabilities). Because the amounts owed to Deerfield pursuant to the Deerfield Facility Agreement were subject to compromise and, in fact, subsequently were compromised by the Bankruptcy Court, we stopped accruing interest on the debt effective January 26, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></b></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Principles of Consolidation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned and controlled subsidiary Aldagen, Inc. (“Aldagen”). The Company continues to consolidate Aldagen while it is under the protection of the Bankruptcy Court since Aldagen did not file for bankruptcy protection and the Company still controls Aldagen. All significant inter-company accounts and transactions are eliminated in consolidation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016 and December 31, 2015, Aldagen had insignificant assets and liabilities and, accordingly, condensed combined financial statements of Nuo Therapeutics and Aldagen are not presented.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Use of Estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for inventory obsolescence, allowance for doubtful accounts, valuation of derivative liabilities, contingent liabilities, fair value and depreciable lives of long-lived assets (including property and equipment, intangible assets and goodwill), deferred taxes and associated valuation allowance and the classification of our long-term debt. Actual results could differ from those estimates.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Credit Concentration</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We generate accounts receivable from the sale of our products. Our trade receivables balance at March 31, 2016 was primarily from Arthrex (58%) and Vibra Healthcare (10%). In addition, Arthrex accounted for 73% and 90% of total products sales in the quarters ended March 31, 2016 and 2015, respectively. No other single customer accounted for more than 10% of total product sales. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> - Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> During the three month period ending March 31, 2016, we used single suppliers for several components of the Angel and Aurix<sup style="font-style:normal"></sup></font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> product lines. We outsource the manufacturing of various products, including component parts for Angel, to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no assurance that one or more of them will not experience an interruption or inability to provide us with the products needed to satisfy customer demand. Additionally, while most of the components of Aurix<sup style="font-style:normal"></sup></font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> are generally readily available on the open market, a reagent, bovine thrombin, is available exclusively through Pfizer, with whom we have an established vendor relationship.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Cash Equivalents</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We consider all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents potentially subject us to a concentration of credit risk as approximately $424,000 held in financial institutions was in excess of FDIC insurance limit of $250,000 at March 31, 2016. We maintain our cash and cash equivalents in the form of money market and checking accounts with financial institutions that we believe are credit worthy.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Pursuant to the terms of the December 18, 2015 consent letter with Deerfield, we were required to maintain a compensating cash balance of $500,000 in deposit accounts subject to control agreements in favor of the lenders.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Accounts Receivables</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We generate accounts receivables from the sale of our products. We provide for an allowance against receivables for estimated losses that may result from a customer’s inability or unwillingness to pay. The allowance for doubtful accounts is estimated primarily based upon historical write-off percentages, known problem accounts, and current economic conditions. Accounts are written off against the allowance for doubtful accounts when we determine that amounts are not collectable. Recoveries of previously written-off accounts are recorded when collected. At March 31, 2016 and December 31, 2015, we maintained an allowance for doubtful accounts of $109,000 and $97,000, respectively.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Inventory</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our inventory is produced by third party manufacturers and consists of raw materials and finished goods. Inventory cost is determined on a first-in, first-out basis and is stated at the lower of cost or net realizable value. We maintain an inventory of kits, reagents, and other disposables that have shelf-lives that generally range from 18 months to five years.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We provide for an allowance against inventory for estimated losses that may result in excess and obsolete inventory (i.e. from the expiration of products). Our allowance for expired inventory is estimated based upon the inventory’s remaining shelf-life and our anticipated ability to sell such inventory, which is estimated using historical usage and future forecasts, within its remaining shelf life. At March 31, 2016 and December 31, 2015, the Company maintained an allowance for expired and excess and obsolete inventory of $58,000. Expired products are segregated and used for demonstration purposes only; the Company records the associated expense for this reserve to costs of products sales in the condensed consolidated statements of operations.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and Equipment</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and equipment is stated at cost less accumulated depreciation and is depreciated, using the straight-line method, over its estimated useful life ranging from three to five years for all assets except for furniture, lab, and manufacturing equipment which is depreciated over seven and ten years, respectively. Leasehold improvements are stated at cost less accumulated depreciation and are amortized, using the straight-line method, over the lesser of the expected lease term or its estimated useful life ranging from three to six years. Amortization of leasehold improvements is included in depreciation expense. Maintenance and repairs are charged to operations as incurred. When assets are disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in other income (expense).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Centrifuges may be sold, leased, or placed at no charge with customers. Depreciation expense for centrifuges that are available for sale, leased, or placed at no charge with customers are charged to cost of sales. Depreciation expense for centrifuges used for sales and marketing and other internal purposes are charged to general and administrative expenses<b>.</b></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. Recoverability measurement and estimating of undiscounted cash flows is done at the lowest possible level for which we can identify assets. If such assets are considered to be impaired, impairment is recognized as the amount by which the carrying amount of assets exceeds the fair value of the assets. As a result of our bankruptcy filing, we identified changes in circumstances during the three months ended March 31, 2016; however we determined our property and equipment was not impaired as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Intangible Assets and Goodwill </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Intangible assets were acquired as part of our acquisition of the Angel business and Aldagen, and consist of definite-lived and indefinite-lived intangible assets, including goodwill. As of December 31, 2015, we had fully impaired our indefinite lived intangible asset related to in-process research and development (“IPR&D”) while our goodwill was fully written off as of September 30, 2015. The only intangible assets that remained as of March 31, 2016 relate to trademarks, technology and customer relationships arising from our 2010 acquisition of the Angel business from Sorin.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Definite-lived intangible assets</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Our definite-lived intangible assets include trademarks, technology (including patents) and customer relationships, and are amortized over their useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any indicators were present, we test for recoverability by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. If those net undiscounted cash flows do not exceed the carrying amount (i.e., the asset is not recoverable), we would perform the next step, which is to determine the fair value of the asset and record an impairment loss, if any. We periodically reevaluate the useful lives for these intangible assets to determine whether events and circumstances warrant a revision in their remaining useful lives. During 2014, as a result of changes in circumstances, the Company performed an assessment of our various definite-lived intangible assets and concluded that the carrying value of the definite-lived intangible assets was impaired. An impairment charge, related to the Aldagen trademark, of approximately $1.0 million was taken during the year ended December 31, 2014.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Liabilities Subject to Compromise</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Liabilities subject to compromise as of March 31, 2016 in the accompanying unaudited condensed consolidated financial statements represent unsecured obligations that were to be accounted for under our plan of reorganization. Generally, actions to enforce or otherwise effect payment of prepetition liabilities are stayed. Prepetition liabilities that are subject to compromise are reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. These liabilities represent the amounts expected to be allowed on known or potential claims to be resolved through the Chapter 11 process, and remain subject to future adjustments arising from negotiated settlements, actions of the Bankruptcy Court, rejection of executory contracts and unexpired leases, the determination as to the value of collateral securing the claims, proofs of claim, or other events. Liabilities subject to compromise also include certain items that may be assumed under the plan of reorganization, and as such, may be subsequently reclassified to liabilities not subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Bankruptcy Court has authorized us to pay certain prepetition obligations, including payment of employee wages, salaries and certain benefits and payments to certain shippers and critical vendors, subject to certain limitations. We are required to pay vendors and other providers in the ordinary course for goods and services received after the filing of our Chapter 11 petition and certain other business related payments necessary to maintain the operations of the Company's business. Obligations associated with these matters are not classified as liabilities subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> With the approval of the Bankruptcy Court, the Company has rejected certain prepetition executory contracts and unexpired leases with respect to the Company's operations and may reject additional ones in the future. Damages resulting from rejection of executory contracts and unexpired leases are generally treated as general unsecured claims and are classified as liabilities subject to compromise. Holders of prepetition claims are required to file proofs of claims. Differences between liability amounts estimated by the Company and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination of the allowable claim. The Company used all available information as of March 31, 2016 to estimate the liability amounts. The final determination of how liabilities were treated was ultimately made by the Bankruptcy Court upon its approval of the Company’s Plan of Reorganization on April 25, 2016. Final determination of liability amounts did not result in material variances from the Company’s estimate made as of March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Reorganization costs during the three month period ending March 31, 2016 were approximately $2.7 million dollars and are reflected as a separate line item on the condensed consolidated statements of operations under other income (expense). Approximately $0.9 million of these expenses were paid during the period ended March 31, 2016, with the balance of the $1.8 million of expenses remaining to be paid as of March 31, 2016 reported in accounts payable or accrued expenses and other liabilities not subject to compromise.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Exit Activities and Realignment</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On May 5, 2014, we announced preliminary efficacy and safety results of our RECOVER-Stroke Phase 2 clinical trial in patients with neurological damage arising from ischemic stroke and treated with ALD-401. Observed improvements in the primary endpoint (mean modified Rankin Score or mRS) of the trial were not clinically or statistically significant. In light of this outcome, we discontinued further funding of the ALD-401 development program, decided to close our facilities in Durham, NC, and terminated certain employees. An accrual of approximately $151,000 for the loss on abandonment of the lease remained at March 31, 2016. The accrued loss on abandonment is being amortized over the life of the lease against future rental payments made and sublease income payments received. Loss on abandonment is classified in general and administrative expense in the accompanying condensed consolidated statements of operations. The accrued loss on abandonment is included in accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On August 11, 2015, our Board of Directors approved our realignment plan with the goal of preserving and maximizing, for the benefit of our stockholders, the value of our existing assets. The plan eliminated approximately 30% of our workforce and was aimed at the preservation of cash and cash equivalents to finance our future operations and support our revised business objectives. In addition, on December 4, 2015, the Company eliminated approximately 22% of its workforce, or seven employees. The Company recognized severance expense of approximately $0.9 million associated with these reductions in our work force during the year ended December 31, 2015. In addition, in January 2016, the Company eliminated four additional employees and recognized severance expense of approximately $0.5 million in the three months ended March 31, 2016. As of March 31, 2016 approximately $0.7 million remained in accrued severance costs which are reflected in accrued expenses on the condensed consolidated balance sheet.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Conditionally Redeemable Common Stock</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As of March 31, 2016, the Maryland Venture Fund (“MVF,” part of Maryland Department of Business and Economic Development) had an investment in our Old Common Stock, and could have required us to repurchase the common stock, at MVF’s option, upon certain events outside of our control; provided, however, that in the event that, at the time of either such event our securities were listed on a national securities exchange, the foregoing repurchase would not be triggered. MVF’s common stock is classified as “contingently redeemable common shares” in the accompanying condensed consolidated balance sheets. The contingently redeemable common shares were cancelled as of the Effective Date. See Note 9</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> .</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Revenue Recognition</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We recognize revenue when the four basic criteria for recognition are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) consideration is fixed or determinable; and (4) collectability is reasonably assured.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Sales of products</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We provide for the sale of our products, including disposable processing sets and supplies to customers and, prior to the Effective Date, to Arthrex as distributor of the Angel product line. Revenue from the sale of products is recognized upon shipment of products to the customers. We do not maintain a reserve for returned products as in the past those returns have not been material and are not expected to be material in the future.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Usage or leasing of blood separation equipment</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> As a result of the acquisition of the Angel business, we acquired various multiple element revenue arrangements that combined the (i) usage or leasing of blood separation processing equipment, (ii) maintenance of processing equipment, and (iii) purchase of disposable processing sets and supplies. We assigned these multiple element revenue arrangements to Arthrex in 2013 pursuant to a license agreement, and further assigned all of our rights, title and interest in and to such license agreement to the Deerfield Lenders as of the Effective Date; as such, we no longer recognize revenue under these arrangements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Percentage-based fees on licensee sales of covered products, including those sold by Arthrex prior to the Effective Date, are generally recorded as products are sold by licensees and are reflected as royalties in the condensed consolidated statements of operations. Direct costs associated with product sales and royalty revenues are recorded at the time that revenue is recognized.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Deferred revenue at March 31, 2016 consists of prepaid licensing revenue of approximately $0.9 million from the licensing of Angel centrifuges. Deferred revenue at December 31, 2015 consists of prepaid licensing revenue of approximately $1.0 million from the licensing of Angel centrifuges and approximately $0.1 million from product sales billed and not yet shipped. Prepaid licensing revenue is being recognized on a straight-line basis over the term of the agreement. Deferred revenue related to products billed and not yet shipped will be recognized when the product is shipped to the customer. Revenue of approximately $101,000 related to the prepaid license was recognized during both the three months ended March 31, 2016 and 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Medical Device Tax</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> On January 1, 2013 a medical device excise tax came into effect that required manufacturers to pay tax of 2.3% on the sale of certain medical devices. We report the medical device excise tax on a gross basis, recognizing the tax as both revenue and cost of sales. The medical device excise tax does not apply to the sale of a taxable medical device by the manufacturer, producer, or importer of the device during the period beginning on January 1, 2016, and ending on December 31, 2017.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> License Fees</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company’s license agreement with Rohto (See</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Note 2  Distribution, License and Collaboration Arrangements</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ) contains multiple elements that include the delivered license and other ancillary performance obligations, such as maintaining its intellectual property and providing regulatory support and training to Rohto. The Company has determined that the ancillary performance obligations are perfunctory and incidental and are expected to be minimal and infrequent. Accordingly, the Company has combined the ancillary performance obligations with the delivered license and is recognizing revenue as a single unit of accounting following revenue recognition guidance applicable to the license. Because the license is delivered, the Company recognized the entire $3.0 million license fee as revenue in the three months ended March 31, 2015. Other elements contained in the license agreement, such as fees and royalties related to the supply and future sale of the product, are contingent and will be recognized as revenue when earned.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354.6pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="473"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 364.25pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="486"></td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 354pt; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="472"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 10pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Segments and Geographic Information</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Approximately 14% and 10% of our product sales were generated outside of the United States for the quarters ended March 31, 2016 and 2015, respectively. We operate in one business segment.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Stock-Based Compensation</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company, from time to time, may issue stock options or stock awards to employees, directors, consultants, and other service providers under its 2002 Long-Term Incentive Plan (“LTIP”) or 2013 Equity Incentive Plan (“EIP”). In some cases, it has issued compensatory warrants to service providers outside the LTIP or EIP (See Note 6</font><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  Equity and Stock-Based Compensation</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The fair value of employee stock options is measured at the date of grant. Expected volatilities are based on historical volatility of the Company’s stock. Company data was utilized to estimate option exercises and employee terminations within the valuation model. Expected years until exercise represents the period of time that options are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company estimated that the dividend rate on its common stock will be zero.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Stock-based compensation for awards granted to non-employees is periodically re-measured as the underlying awards vest. The Company recognizes an expense for such awards throughout the performance period as the services are provided by the non-employees, based on the fair value of these options and warrants at each reporting period. The fair value of stock options and compensatory warrants issued to service providers utilizes the same methodology with the exception of the expected term. For awards to non-employees, the Company estimates that the options or warrants will be held for the full term.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> All outstanding stock options were cancelled as of the Effective Date. The Company issued option grants to employees and directors subsequent to the Effective Date for which the stock based compensation expense will be reflected in future periods (see Note 9 </font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Subsequent Events</font></i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> ).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Income Taxes</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, current income tax expense or benefit is the amount of income taxes expected to be payable or refundable for the current year. A deferred income tax asset or liability is recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credits and loss carryforwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Tax rate changes are reflected in income during the period such changes are enacted.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For the three months ended March 31, 2015, the income tax provision relates exclusively to a deferred tax liability associated with the amortization for tax purposes of goodwill. The deferred tax liability was eliminated in the third quarter of 2015 with the impairment charge recognized for all our goodwill.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income before taxes. There were no such items for three months ended March 31, 2016 and 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basic and Diluted Earnings (Loss) per Share</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding (including contingently issuable shares when the contingencies have been resolved) during the period.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For periods of net income, and when the effects are not anti-dilutive, diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares outstanding (including contingently issuable shares when the contingencies have been resolved) plus the impact of all potential dilutive common shares, consisting primarily of common stock options and stock purchase warrants using the treasury stock method, and convertible debt using the if-converted method.</font><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> The total number of anti-dilutive shares, common stock options, warrants exercisable for common stock, and convertible debt, which have been excluded from the computation of diluted earnings per share, was 201,809,265 for the quarter ended March 31, 2015.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive. The total number of anti-dilutive shares, common stock options, warrants exercisable for common stock, and convertible debt, which have been excluded from the computation of diluted loss per share, was 199,266,489 for the quarter ended March 31, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Earnings (loss) per share for the three months ended March 31, 2016 and 2015 are calculated for basic and diluted earnings per share as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 8.5pt">  </font></div> <table style="WIDTH: 1072.9pt; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="1431"> <tr> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="6"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Three months ended March 31,</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="2"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2016</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" colspan="2"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2015</font></div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; WIDTH: 793.15pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="1058"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Net income (loss)</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 107.55pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="143"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.15in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 107pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="143"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 4,107,001</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 10.25pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom" width="14"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Net income allocated to participating securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (1,777,865</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 29pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator for basic income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,329,136</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Incremental allocation of net income to participating securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator adjustments for potential dilutive securities</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Numerator for diluted income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (4,870,763</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,329,136</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Denominator for basic income (loss) per share weighted average outstanding common shares</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of stock options</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of warrants</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Dilutive effect of convertible debt</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> -</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Denominator for diluted income (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: black 2.25pt double; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,951,100</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 1pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Basic and diluted earnings (loss) per share</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Basic</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (0.04</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.02</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: white; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 17pt; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Diluted</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> (0.04</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> )</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> $</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="right"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.02</font></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="bottom"> <div style="CLEAR:both;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Recently Adopted Accounting Pronouncements</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In April 2015, the FASB issued guidance as to whether a cloud computing arrangement (e.g., software as a service, platform as a service, infrastructure as a service, and other similar hosting arrangements) includes a software license and, based on that determination, how to account for such arrangements. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendment is effective for reporting periods beginning after December 15, 2015 and may be applied on either a prospective or retrospective basis. Early adoption is permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In April 2015, the FASB issued guidance to simplify the balance sheet disclosure for debt issuance costs. Under the guidance, debt issuance costs related to a recognized debt liability will be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, in the same manner as debt discounts, rather than as an asset. The standard is effective for reporting periods beginning after December 15, 2015 and early adoption is permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In September 2015, the FASB issued accounting guidance to simplify the accounting for measurement period adjustments resulting from business combinations. Under the guidance, an acquirer will be required to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which the adjustments are determined. The guidance requires an entity to present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. The standard is effective for reporting periods beginning after December 15, 2015. The amendments in this pronouncement should be applied prospectively, with earlier application permitted. We adopted this pronouncement effective January 1, 2016; the adoption did not have a material impact to our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> Unadopted Accounting Pronouncements</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In May 2014, the FASB issued guidance for revenue recognition for contracts, superseding the previous revenue recognition requirements, along with most existing industry-specific guidance. The guidance requires an entity to review contracts in five steps: 1) identify the contract, 2) identify performance obligations, 3) determine the transaction price, 4) allocate the transaction price, and 5) recognize revenue. The new standard will result in enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue arising from contracts with customers. In August 2015, the FASB issued guidance approving a one-year deferral, making the standard effective for reporting periods beginning after December 15, 2017, with early adoption permitted only for reporting periods beginning after December 15, 2016. In March 2016, the FASB issued guidance to clarify the implementation guidance on principal versus agent considerations for reporting revenue gross rather than net, with the same deferred effective date. In April 2016, the FASB issued guidance to clarify the implementation guidance on identifying performance obligations and the accounting for licenses of intellectual property, with the same deferred effective date. In May 2016, the FASB issued guidance rescinding SEC paragraphs related to revenue recognition, pursuant to two SEC Staff Announcements at the March 3, 2016 Emerging Issues Task Force meeting. In May 2016, the FASB also issued guidance to clarify the implementation guidance on assessing collectability, presentation of sales tax, noncash consideration, and contracts and contract modifications at transition, with the same effective date. We are currently evaluating the impact, if any, that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In August 2014, the FASB issued guidance for the disclosure of uncertainties about an entity’s ability to continue as a going concern. Under U.S. GAAP, continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. Previously, there was no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. This was issued to provide guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. We are currently evaluating the impact, if any, that the adoption will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In July 2015, the FASB issued guidance for the accounting for inventory. The main provisions are that an entity should measure inventory within the scope of this update at the lower of cost and net realizable value, except when inventory is measured using LIFO or the retail inventory method. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. In addition, the Board has amended some of the other guidance in Topic 330 to more clearly articulate the requirements for the measurement and disclosure of inventory. The amendments in this update for public business entities are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in this update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We are currently evaluating the impact, if any, that the adoption will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In November 2015, the FASB issued accounting guidance to simplify the presentation of deferred taxes. Previously, U.S. GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts. Under this guidance, deferred tax liabilities and assets will be classified as noncurrent amounts. The standard is effective for reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, that this new accounting pronouncement will have on its consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In February 2016, the FASB issued guidance for accounting for leases. The guidance requires lessees to recognize assets and liabilities related to long-term leases on the balance sheet and expands disclosure requirements regarding leasing arrangements. The guidance is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The guidance must be adopted on a modified retrospective basis and provides for certain practical expedients. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In March 2016, the FASB issued guidance simplifying the accounting for and financial statement disclosure of stock-based compensation awards. Under the guidance, all excess tax benefits and tax deficiencies related to stock-based compensation awards are to be recognized as income tax expenses or benefits in the income statement and excess tax benefits should be classified along with other income tax cash flows in the operating activities section of the statement of cash flows. Under the guidance, companies can also elect to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. In addition, the guidance amends some of the other stock-based compensation awards guidance to more clearly articulate the requirements and cash flow presentation for withholding shares for tax-withholding purposes. The guidance is effective for reporting periods beginning after December 15, 2016 and early adoption is permitted, though all amendments of the guidance must be adopted in the same period. The adoption of certain amendments of the guidance must be applied prospectively, and adoption of the remaining amendments must be applied either on a modified retrospective basis or retrospectively to all periods presented. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> In March 2016, the FASB issued guidance to clarify the requirements for assessing whether contingent call or put options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The amendments of this guidance are effective for reporting periods beginning after December 15, 2016, and early adoption is permitted. Entities are required to apply the guidance to existing debt instruments using a modified retrospective transition method as of beginning of the fiscal year of adoption. We are currently evaluating the impact that this guidance will have on our consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; COLOR: black; FONT-SIZE: 10pt"> We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not have a material impact on our results of operations, financial position, or cash flows.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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2016 Q1 Form 10-Q Financial Statement

#000114420416129030 Filed on October 24, 2016

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2016 Q1 Form 10-Q Financial Statement

#000114420416129030 Filed on October 24, 2016

Income Statement

Balance Sheet

Cashflow Statement

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Files In Submission

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