Stereotaxis
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S-1/A
STEREOTAXIS, INC. filed this Form S-1/A on 06/17/2004
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STEREOTAXIS, INC.

STATEMENTS OF OPERATIONS
                                             
Three Months Ended
Year Ended December 31 March 31


2001 2002 2003 2003 2004





(Unaudited)
Systems revenue
  $     $     $ 3,808,036     $ 365,000     $ 2,672,316  
Disposables, service and accessories revenue
          18,900       480,941       21,073       401,575  
Other revenue
                725,900              
     
     
     
     
     
 
            18,900       5,014,877       386,073       3,073,891  
Costs of revenue
          39,760       4,051,313       500,937       2,482,414  
     
     
     
     
     
 
            (20,860 )     963,564       (114,864 )     591,477  
Operating expenses:
                                       
 
Research and development
    13,831,016       14,325,389       13,541,398       2,510,396       4,593,358  
 
General and administrative
    2,575,800       4,461,625       4,893,830       1,042,431       1,271,655  
 
Sales and marketing
    926,859       2,230,565       5,986,518       1,101,136       2,377,022  
 
Stock-based compensation
    622,299       483,638       492,168       125,001       183,553  
     
     
     
     
     
 
Total operating expenses
    17,955,974       21,501,217       24,913,914       4,778,964       8,425,588  
     
     
     
     
     
 
Operating loss
    (17,955,974 )     (21,522,077 )     (23,950,350 )     (4,893,828 )     (7,834,111 )
Interest income
    950,776       434,470       375,361       102,158       95,050  
Interest expense
          (371,051 )     (461,848 )     (114,000 )     (110,936 )
     
     
     
     
     
 
Net loss
  $ (17,005,198 )   $ (21,458,658 )   $ (24,036,837 )   $ (4,905,670 )   $ (7,849,997 )
     
     
     
     
     
 
Net loss per common share:
                                       
 
Basic and diluted
  $ (6.39 )   $ (5.33 )   $ (5.10 )   $ (1.10 )   $ (1.48 )
     
     
     
     
     
 
Shares used in computing net loss per common share:
                                       
   
Basic and diluted
    2,660,717       4,022,283       4,711,696       4,456,228       5,292,246  
     
     
     
     
     
 
Analysis of stock-based compensation:
                                       
 
Research and development
  $ 528,115     $ 416,626     $ 345,064     $ 89,272       160,793  
 
General and administrative
    69,763       67,012       134,312       33,578       21,796  
 
Sales and marketing
    24,421             12,792       2,151       964  
     
     
     
     
     
 
Total stock-based compensation
  $ 622,299     $ 483,638     $ 492,168     $ 125,001     $ 183,553  
     
     
     
     
     
 

See accompanying notes.

F-4


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