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

       The following selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” following this section and our financial statements and related notes included in the back of this prospectus. The selected financial data as of and for the years ended December 31, 1999, 2000, 2001, 2002 and 2003 are derived from our audited financial statements. Our audited financial statements as of December 31, 2002 and 2003 and for each of the three years in the period ended December 31, 2003 are included in the back of this prospectus. The unaudited selected financial statements, including the selected financial data for the three months ended March 31, 2003 and 2004, include, in the opinion of management, all adjustments, consisting only of normal, recurring adjustments, that management considers necessary for a fair statement of the results for those periods. The historical results are not necessarily indicative of the operating results to be expected in any future period.

       See the notes to the financial statements for an explanation of the method used to determine the numbers of shares used in computing basic and diluted and pro forma basic and diluted net loss per share.

                                                           
Three Months Ended
Year ended December 31, March 31,


1999 2000 2001 2002 2003 2003 2004







(unaudited)
(In thousands, except share and per share data)
Statement of operations data:
                                                       
Systems revenue
  $     $     $     $     $ 3,808     $ 365     $ 2,672  
Disposables, service and accessories revenue
                      19       481       21       402  
Other revenue
                            726              
     
     
     
     
     
     
     
 
                        19       5,015       386       3,074  
Costs of revenue
                      40       4,051       501       2,482  
     
     
     
     
     
     
     
 
Gross profit
                      (21 )     964       (115 )     592  
Operating expenses:
                                                       
 
Research and development
    4,526       8,857       13,831       14,325       13,541       2,510       4,593  
 
General and administrative
    1,184       1,621       2,576       4,461       4,894       1,043       1,272  
 
Sales and marketing
    10       386       927       2,231       5,987       1,101       2,377  
 
Stock-based compensation
    2       19       622       484       492       125       184  
     
     
     
     
     
     
     
 
Total operating expenses
    5,722       10,883       17,956       21,501       24,914       4,779       8,426  
     
     
     
     
     
     
     
 
Operating loss
    (5,722 )     (10,883 )     (17,956 )     (21,522 )     (23,950 )     (4,894 )     (7,834 )
Interest income
    411       1,334       951       434       375       102       95  
Interest expense
                      371       462       114       111  
     
     
     
     
     
     
     
 
Net loss
    (5,311 )     (9,549 )     (17,005 )     (21,459 )     (24,037 )     (4,906 )     (7,850 )
Net loss per common share, basic and diluted
  $ (4.15 )   $ (5.73 )   $ (6.39 )   $ (5.33 )   $ (5.10 )   $ (1.10 )   $ (1.48 )
Shares used in computing net loss per common share, basic and diluted
    1,280,398       1,665,421       2,660,717       4,022,283       4,711,696       4,456,228       5,292,246  
Pro forma net loss per common share, basic and diluted
                                                       
Shares used in computing pro forma net loss per common share, basic and diluted
                                                       

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