NVDL - SEC Filings

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenue
Royalties	$	127,000		$	—		$	127,000		$	—
Milestone fees		—			—			—			62,000
License fees		65,000			66,000			130,000			133,000
Total revenue		192,000			66,000			257,000			195,000

Operating expenses
Research and development		412,000			559,000			1,032,000			1,006,000
General and administrative		703,000			813,000			1,385,000			1,787,000
Total operating expenses		1,115,000			1,372,000			2,417,000			2,793,000

Loss from operations		(923,000	)		(1,306,000	)		(2,160,000	)		(2,598,000	)

Other income (expense):
Change in derivative liability		(2,427,000	)		181,000			3,684,000			181,000
Change in conversion feature liability		(794,000	)		—			27,000			—
Interest expense		(875,000			(1,000	)		(9,148,000	)		(1,000	)
Total other income (expense)		(4,096,000	)		180,000			(5,437,000	)		180,000

Net loss	$	(5,019,000	)	$	(1,126,000	)	$	(7,597,000	)	$	(2,418,000	)

Basic and diluted loss per common share	$	(0.04	)	$	(0.01	)	$	(0.07	)		(0.03	)

Weighted average common shares outstanding – basic and diluted		129,080,346			97,918,458			115,961,695		$	93,194,701