in december 2015 , we announced the approval by the fda of cefotan® ( cefotan for injection ) . this was our first product approved from the portfolio of discontinued and withdrawn new drug applications , or ndas , and andas that we purchased from astra zeneca on september 25 , 2014. we have also experienced an increased rate of review by the fda of applications filed in generic drug user fee amendments , or gdufa , year 3 and year 4 , which began october 1 , 2014 , and october 1 , 2015 , respectively . we submitted fifteen topical andas in 2015. we expect to continue to expand our presence in the generic topical pharmaceutical market through the filing of additional andas with the fda and the subsequent launch of products as these applications are approved . our target is to file at least fifteen andas in total in 2016 through our internal product development program , and we plan to file at least eight andss with health canada in 2016. we will also seek to license or acquire further products , intellectual property , or pending applications to expand our portfolio . effective october 26 , 2015 , we transferred the listing of our common stock from the nyse mkt to the nasdaq global select market . our common stock ceased trading on the nyse mkt under the symbol “ ig ” at the close of business on october 23 , 2015 and began trading on the nasdaq global select market under the symbol “ tlgt ” on october 26 , 2015. on november 13 , 2015 , we acquired all of the rights , title and interest in the development , production , marketing , import and distribution of all pharmaceutical products of alveda pharmaceuticals inc. , or alveda , pursuant to two asset purchase agreements , one relating to the acquisition of all of the intellectual property-related assets of alveda and the other relating to the acquisition of all other assets of alveda . we also develop , manufacture , fill , and package topical semi-solid and liquid products for branded and generic pharmaceutical customers , as well as the otc and cosmetic markets . these products are used in a wide range of applications from cosmetics and cosmeceuticals to the prescription treatment of conditions like dermatitis , psoriasis , and eczema . we are currently exploring various options to enable us to expand our development and manufacturing capabilities to include sterile injectable and ophthalmic products . results of operations fiscal year 2015 compared to fiscal year 2014 we had net income of $ 6,668,000 in 2015 compared to net income of $ 5,251,000 in 2014. net income attributable to common stockholders was $ 6,668,000 , or $ 0.13 per basic share in 2015 , and net income applicable to common stockholders was $ 5,251,000 , or $ 0.11 per share , in 2014 : revenues ( in thousands ) : replace_table_token_5_th the increase in product sales for the year ended december 31 , 2015 as compared to the same period in 2014 was primarily due to the increased revenue from our own generic pharmaceutical product line that was launched in the first quarter of 2013 , the launch of an additional company label product in july 2015 , the purchase of three commercialized injectable products in october 2015 and the launch of two additional company label products in june 2014. there was a decrease in product sales in our contract services business to three of our pharmaceutical customers and one cosmetic customer , which was only partially offset by increased sales to three of our pharmaceutical customers . research and development income will not be consistent and will vary , from period to period , depending on the required timeline of each development project . licensing , royalty and other revenue decreased slightly due to a decrease in other revenue , while licensing and royalty revenue remained the same . 43 costs and expenses ( in thousands ) : replace_table_token_6_th cost of sales increased for the year ended december 31 , 2015 as compared to the same period in 2014 as a result of the increase in total revenue . cost of sales as a percentage of total revenue was 52 % for the year ended december 31 , 2015 as compared to 50 % for 2014. during 2015 , approximately 86 % of our revenue from contract and formulation services came from pharmaceutical customers as compared to 79 % in 2014. our research and development income results primarily from services rendered under contractual agreements and , therefore , cost of sales as a percentage of our research and development income is relatively low . consistent with our strategy , we expect cost of sales as a percentage of total revenue to decline over time . selling , general and administrative expenses for the year ended december 31 , 2015 increased by $ 5,354,000 as compared to the same period in 2014. during the fourth quarter the company recorded acquisition related costs in the amount of $ 2,256,000 , in addition , in 2015 there were increases of $ 1,056,000 from the issuance of stock-based compensation related to options and restricted stock , other corporate expenses of $ 519,000 , professional fees of $ 431,000 , amortization of product acquired in 2015 of $ 392,000 , expenses related to canadian operations of $ 171,000 , travel-related costs of $ 153,000 , website expenses of $ 121,000 , overhead costs of $ 106,000 , recruiting and human resources expenses of $ 76,000 , contributions of $ 50,000 and stockholder relations expense of $ 44,000 during the year ended december 31 , 2015 as compared to the same period in 2014. these increases were partially offset by a decrease of $ 47,000 in salaries and related costs . story_separator_special_tag certain sra balances are included in accounts payable and accrued expenses . contract manufacturing sales : the company recognizes revenue when title transfers to its customers , which is generally upon shipment of products . these shipments are made in accordance with sales commitments and related sales orders entered into with customers either verbally or in written form . the revenues associated with these transactions , net of appropriate cash discounts , product returns and sales reserves , are recorded upon shipment of the products included in product sales in the statement of operations . research and development income : the company establishes agreed upon product development agreements with its customers to perform product development services . product development revenues are recognized in accordance with the product development agreement upon the completion of the phases of development and when the company has no future performance obligations relating to that phase of development . revenue recognition requires the company to assess progress against contracted obligations to assure completion of each stage . these payments are generally non-refundable and are reported as deferred until they are recognizable as revenue . if no such arrangement exists , product development fees are recognized ratably over the entire period during which the services are performed . in making such assessments , judgments are required to evaluate contingencies such as potential variances in schedule and the costs , the impact of change orders , liability claims , contract disputes and achievement of contractual performance standards . changes in total estimated contract cost and losses , if any , are recognized in the period they are determined . billings on research and development contracts are typically based upon terms agreed upon by the company and customer and are stated in the contracts themselves and do not always align with the revenues recognized by the company . 50 derivatives the company accounts for its derivative instruments in accordance with asc 815-10 , derivatives and hedging , or asc 815-10. asc 815-10 establishes accounting and reporting standards requiring that derivative instruments , including derivative instruments embedded in other contracts , be recorded on the balance sheet as either an asset or liability measured at its fair value . asc 815-10 also requires that changes in the fair value of derivative instruments be recognized currently in results of operations unless specific hedge accounting criteria are met . the company has not entered into hedging activities to date . the company recognizes all derivative instruments as either assets or liabilities in the consolidated balance sheets at their respective fair values . the company 's derivative instruments include the embedded convertible option of its notes issued december 16 , 2014 ( as defined in note 6 ) , all of which have been recorded as a liability at fair value , and are revalued at each reporting date , with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income ( expense ) . due to the approval of the sufficient shares at the company 's annual shareholder meeting , the liability for the embedded derivative was reclassified to equity on may 20 , 2015. the company has no derivatives at december 31 , 2015. use of estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states of america , or gaap , requires management 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 amounts of revenues and expenses during the reporting period . significant estimates include derivatives , sra allowances , allowances for excess and obsolete inventories , allowances for doubtful accounts , provisions for income taxes and related deferred tax asset valuation allowances , stock based compensation and accruals for environmental cleanup and remediation costs . actual results could differ from those estimates . recent accounting pronouncements in february 2016 , the fasb issued accounting standards update ( “ asu ” ) 2016-02 , leases ( topic 842 ) : “ recognition and measurement of financial assets and financial liabilities ” . the update supersedes topic 840 , leases and requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous gaap . topic 842 retains a distinction between finance leases and operating leases , with cash payments from operating leases classified within operating activities in the statement of cash flows . the amendments in this update are effective for fiscal years beginning after december 15 , 2018 for public business entities , which for the company means january 1 , 2019. the company is currently evaluating the impact of this asu on its consolidated financial statements . in september 2015 , the fasb issued asu 2015-16 , business combinations ( topic 805 ) : “ simplifying the accounting for measurement-period adjustments ” . the update eliminates the requirement to retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill during the measurement period when new information is obtained about the facts and circumstances that existed as of the acquisition date , that if known , would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities . the amendments in this update are effective for fiscal years beginning after december 15 , 2015 , which for the company means january 1 , 2016 , and should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update . early application is permitted for financial statements that have not been issued . the company is currently evaluating the impact of this asu on its consolidated financial statements . in july 2015 , the fasb issued asu 2015-11 , inventory ( topic 330 ) : “ simplifying the measurement of inventory ”

liquidity and capital resources our principal sources of liquidity were cash and cash equivalents of approximately $ 87 million at december 31 , 2015 , $ 10 million available under the $ 10 million general electric capital corporation credit facility and cash from operations . we had working capital of $ 106.0 million at december 31 , 2015. we may require additional funding and this funding will depend , in part , on the timing and structure of potential business arrangements . if necessary , we may continue to seek to raise additional capital through the sale of our equity or through a strategic alliance with a third party . there may also be additional acquisition and growth opportunities that may require external financing . there can be no assurance that such financing will be available on terms acceptable to us , or at all . we believe that our existing capital resources will be sufficient to support our current business plan beyond march 2017. on december 10 , 2014 , we entered into a purchase agreement , pursuant to which we agreed to sell $ 125 million aggregate principal amount of our 3.75 % convertible senior notes due 2019 , or the notes , to deutsche bank securities inc. and j.p. morgan securities llc , as the initial purchasers ( see note 21 to the company 's consolidated financial statements ) . in addition , we granted the initial purchasers a 30-day option to purchase up to an additional $ 18.75 million aggregate principal amount of the notes on the same terms and conditions . the notes were sold in a private placement to qualified institutional buyers pursuant to rule 144a under the securities act of 1933 , as amended . on november 18 , 2014 , we entered into a $ 10 million line of credit with general electric capital corporation ( see note 7 to the company 's consolidated financial statements ) .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our principal sources of liquidity were cash and cash equivalents of approximately $ 87 million at december 31 , 2015 , $ 10 million available under the $ 10 million general electric capital corporation credit facility and cash from operations . we had working capital of $ 106.0 million at december 31 , 2015. we may require additional funding and this funding will depend , in part , on the timing and structure of potential business arrangements . if necessary , we may continue to seek to raise additional capital through the sale of our equity or through a strategic alliance with a third party . there may also be additional acquisition and growth opportunities that may require external financing . there can be no assurance that such financing will be available on terms acceptable to us , or at all . we believe that our existing capital resources will be sufficient to support our current business plan beyond march 2017. on december 10 , 2014 , we entered into a purchase agreement , pursuant to which we agreed to sell $ 125 million aggregate principal amount of our 3.75 % convertible senior notes due 2019 , or the notes , to deutsche bank securities inc. and j.p. morgan securities llc , as the initial purchasers ( see note 21 to the company 's consolidated financial statements ) . in addition , we granted the initial purchasers a 30-day option to purchase up to an additional $ 18.75 million aggregate principal amount of the notes on the same terms and conditions . the notes were sold in a private placement to qualified institutional buyers pursuant to rule 144a under the securities act of 1933 , as amended . on november 18 , 2014 , we entered into a $ 10 million line of credit with general electric capital corporation ( see note 7 to the company 's consolidated financial statements ) .
```    
 Suspicious Activity Report : in december 2015 , we announced the approval by the fda of cefotan® ( cefotan for injection ) . this was our first product approved from the portfolio of discontinued and withdrawn new drug applications , or ndas , and andas that we purchased from astra zeneca on september 25 , 2014. we have also experienced an increased rate of review by the fda of applications filed in generic drug user fee amendments , or gdufa , year 3 and year 4 , which began october 1 , 2014 , and october 1 , 2015 , respectively . we submitted fifteen topical andas in 2015. we expect to continue to expand our presence in the generic topical pharmaceutical market through the filing of additional andas with the fda and the subsequent launch of products as these applications are approved . our target is to file at least fifteen andas in total in 2016 through our internal product development program , and we plan to file at least eight andss with health canada in 2016. we will also seek to license or acquire further products , intellectual property , or pending applications to expand our portfolio . effective october 26 , 2015 , we transferred the listing of our common stock from the nyse mkt to the nasdaq global select market . our common stock ceased trading on the nyse mkt under the symbol “ ig ” at the close of business on october 23 , 2015 and began trading on the nasdaq global select market under the symbol “ tlgt ” on october 26 , 2015. on november 13 , 2015 , we acquired all of the rights , title and interest in the development , production , marketing , import and distribution of all pharmaceutical products of alveda pharmaceuticals inc. , or alveda , pursuant to two asset purchase agreements , one relating to the acquisition of all of the intellectual property-related assets of alveda and the other relating to the acquisition of all other assets of alveda . we also develop , manufacture , fill , and package topical semi-solid and liquid products for branded and generic pharmaceutical customers , as well as the otc and cosmetic markets . these products are used in a wide range of applications from cosmetics and cosmeceuticals to the prescription treatment of conditions like dermatitis , psoriasis , and eczema . we are currently exploring various options to enable us to expand our development and manufacturing capabilities to include sterile injectable and ophthalmic products . results of operations fiscal year 2015 compared to fiscal year 2014 we had net income of $ 6,668,000 in 2015 compared to net income of $ 5,251,000 in 2014. net income attributable to common stockholders was $ 6,668,000 , or $ 0.13 per basic share in 2015 , and net income applicable to common stockholders was $ 5,251,000 , or $ 0.11 per share , in 2014 : revenues ( in thousands ) : replace_table_token_5_th the increase in product sales for the year ended december 31 , 2015 as compared to the same period in 2014 was primarily due to the increased revenue from our own generic pharmaceutical product line that was launched in the first quarter of 2013 , the launch of an additional company label product in july 2015 , the purchase of three commercialized injectable products in october 2015 and the launch of two additional company label products in june 2014. there was a decrease in product sales in our contract services business to three of our pharmaceutical customers and one cosmetic customer , which was only partially offset by increased sales to three of our pharmaceutical customers . research and development income will not be consistent and will vary , from period to period , depending on the required timeline of each development project . licensing , royalty and other revenue decreased slightly due to a decrease in other revenue , while licensing and royalty revenue remained the same . 43 costs and expenses ( in thousands ) : replace_table_token_6_th cost of sales increased for the year ended december 31 , 2015 as compared to the same period in 2014 as a result of the increase in total revenue . cost of sales as a percentage of total revenue was 52 % for the year ended december 31 , 2015 as compared to 50 % for 2014. during 2015 , approximately 86 % of our revenue from contract and formulation services came from pharmaceutical customers as compared to 79 % in 2014. our research and development income results primarily from services rendered under contractual agreements and , therefore , cost of sales as a percentage of our research and development income is relatively low . consistent with our strategy , we expect cost of sales as a percentage of total revenue to decline over time . selling , general and administrative expenses for the year ended december 31 , 2015 increased by $ 5,354,000 as compared to the same period in 2014. during the fourth quarter the company recorded acquisition related costs in the amount of $ 2,256,000 , in addition , in 2015 there were increases of $ 1,056,000 from the issuance of stock-based compensation related to options and restricted stock , other corporate expenses of $ 519,000 , professional fees of $ 431,000 , amortization of product acquired in 2015 of $ 392,000 , expenses related to canadian operations of $ 171,000 , travel-related costs of $ 153,000 , website expenses of $ 121,000 , overhead costs of $ 106,000 , recruiting and human resources expenses of $ 76,000 , contributions of $ 50,000 and stockholder relations expense of $ 44,000 during the year ended december 31 , 2015 as compared to the same period in 2014. these increases were partially offset by a decrease of $ 47,000 in salaries and related costs . story_separator_special_tag certain sra balances are included in accounts payable and accrued expenses . contract manufacturing sales : the company recognizes revenue when title transfers to its customers , which is generally upon shipment of products . these shipments are made in accordance with sales commitments and related sales orders entered into with customers either verbally or in written form . the revenues associated with these transactions , net of appropriate cash discounts , product returns and sales reserves , are recorded upon shipment of the products included in product sales in the statement of operations . research and development income : the company establishes agreed upon product development agreements with its customers to perform product development services . product development revenues are recognized in accordance with the product development agreement upon the completion of the phases of development and when the company has no future performance obligations relating to that phase of development . revenue recognition requires the company to assess progress against contracted obligations to assure completion of each stage . these payments are generally non-refundable and are reported as deferred until they are recognizable as revenue . if no such arrangement exists , product development fees are recognized ratably over the entire period during which the services are performed . in making such assessments , judgments are required to evaluate contingencies such as potential variances in schedule and the costs , the impact of change orders , liability claims , contract disputes and achievement of contractual performance standards . changes in total estimated contract cost and losses , if any , are recognized in the period they are determined . billings on research and development contracts are typically based upon terms agreed upon by the company and customer and are stated in the contracts themselves and do not always align with the revenues recognized by the company . 50 derivatives the company accounts for its derivative instruments in accordance with asc 815-10 , derivatives and hedging , or asc 815-10. asc 815-10 establishes accounting and reporting standards requiring that derivative instruments , including derivative instruments embedded in other contracts , be recorded on the balance sheet as either an asset or liability measured at its fair value . asc 815-10 also requires that changes in the fair value of derivative instruments be recognized currently in results of operations unless specific hedge accounting criteria are met . the company has not entered into hedging activities to date . the company recognizes all derivative instruments as either assets or liabilities in the consolidated balance sheets at their respective fair values . the company 's derivative instruments include the embedded convertible option of its notes issued december 16 , 2014 ( as defined in note 6 ) , all of which have been recorded as a liability at fair value , and are revalued at each reporting date , with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income ( expense ) . due to the approval of the sufficient shares at the company 's annual shareholder meeting , the liability for the embedded derivative was reclassified to equity on may 20 , 2015. the company has no derivatives at december 31 , 2015. use of estimates the preparation of financial statements in conformity with accounting principles generally accepted in the united states of america , or gaap , requires management 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 amounts of revenues and expenses during the reporting period . significant estimates include derivatives , sra allowances , allowances for excess and obsolete inventories , allowances for doubtful accounts , provisions for income taxes and related deferred tax asset valuation allowances , stock based compensation and accruals for environmental cleanup and remediation costs . actual results could differ from those estimates . recent accounting pronouncements in february 2016 , the fasb issued accounting standards update ( “ asu ” ) 2016-02 , leases ( topic 842 ) : “ recognition and measurement of financial assets and financial liabilities ” . the update supersedes topic 840 , leases and requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous gaap . topic 842 retains a distinction between finance leases and operating leases , with cash payments from operating leases classified within operating activities in the statement of cash flows . the amendments in this update are effective for fiscal years beginning after december 15 , 2018 for public business entities , which for the company means january 1 , 2019. the company is currently evaluating the impact of this asu on its consolidated financial statements . in september 2015 , the fasb issued asu 2015-16 , business combinations ( topic 805 ) : “ simplifying the accounting for measurement-period adjustments ” . the update eliminates the requirement to retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill during the measurement period when new information is obtained about the facts and circumstances that existed as of the acquisition date , that if known , would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities . the amendments in this update are effective for fiscal years beginning after december 15 , 2015 , which for the company means january 1 , 2016 , and should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update . early application is permitted for financial statements that have not been issued . the company is currently evaluating the impact of this asu on its consolidated financial statements . in july 2015 , the fasb issued asu 2015-11 , inventory ( topic 330 ) : “ simplifying the measurement of inventory ”

