Pro Forma Effect of Series E Preferred Stock |
Tables follow
that give pro forma effect of the Series E correction as if the
correction had occurred on February 21, 2013:
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March 31, 2013 |
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Balance Sheet
Line Items |
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Series E
Adjustments |
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Pro Forma |
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Assets
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$ |
38,029,406 |
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$ |
0 |
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$ |
38,029,406 |
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Liabilities
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$ |
12,952,499 |
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$ |
(4,804,850 |
) |
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$ |
8,147,649 |
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Series E convertible
redeemable preferred stock
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5,529,792 |
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0 |
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5,529,792 |
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Stockholders’
Equity
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19,547,115 |
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4,804,850 |
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24,351,965 |
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Total Liabilities, Series E
& Stockholders’ Equity
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$ |
38,029,406 |
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$ |
0 |
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$ |
38,029,406 |
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March 31, 2013 |
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Statement of
Operations
Line Items |
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Series E
Adjustments |
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Pro Forma |
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Revenue
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$ |
6,311,401 |
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$ |
0 |
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$ |
6,311,401 |
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Gross profit
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2,661,213 |
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0 |
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2,661,213 |
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Operating loss
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(2,891,781 |
) |
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0 |
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(2,891,781 |
) |
Non-operating
expense
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(2,426,302 |
) |
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3,169,083 |
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742,781 |
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Loss from continuing
operations
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(5,318,083 |
) |
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3,169,083 |
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(2,149,000 |
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Net loss
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(5,318,083 |
) |
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3,169,083 |
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(2,149,000 |
) |
Preferred stock dividends
and accretion
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(2,447,733 |
) |
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1,635,767 |
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(811,966 |
) |
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Net loss attributable to
common stockholders
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$ |
(7,765,816 |
) |
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$ |
4,804,850 |
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$ |
(2,960,966 |
) |
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Basic and diluted loss per
common share:
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Loss from continuing
operations attributable to common stockholders
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(0.11 |
) |
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(0.04 |
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Net loss attributable to
common stockholders
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(0.11 |
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(0.04 |
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Basic and diluted weighted
average shares outstanding
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71,658,506 |
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71,658,506 |
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