Pro Forma Effect of Results of Operations |
The following gives pro forma effect to the
results of operations had the modification been effective on
February 21, 2013:
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Three months ended
June 30, 2013 |
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As Reported |
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Series E
Adjustment |
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Proforma |
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Revenue
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$ |
7,357,307 |
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$ |
— |
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$ |
7,357,307 |
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Gross profit
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$ |
3,584,933 |
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$ |
— |
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$ |
3,584,933 |
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Operating loss
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(1,316,746 |
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— |
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(1,316,746 |
) |
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Non-operating
expenses
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(3,817,813 |
) |
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3,821,270 |
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3,457 |
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Net loss
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$ |
(5,134,559 |
) |
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$ |
3,821,270 |
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$ |
(1,313,289 |
) |
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Dividends and accretion to
redemption value of Series E
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(322,291 |
) |
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(322,291 |
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Net loss attributable to
common stockholders
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$ |
(5,456,850 |
) |
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$ |
3,821,270 |
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$ |
(1,635,580 |
) |
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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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$ |
(0.07 |
) |
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$ |
(0.02 |
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Net loss attributable to
common stockholders
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$ |
(0.07 |
) |
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$ |
(0.02 |
) |
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Six months ended
June 30, 2013 |
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As Reported |
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Series E
Adjustments |
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Proforma |
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Revenue
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$ |
13,668,709 |
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$ |
— |
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$ |
13,668,709 |
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Gross profit
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$ |
7,422,562 |
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$ |
— |
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$ |
7,422,562 |
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Operating loss
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(4,208,527 |
) |
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— |
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(4,208,527 |
) |
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Non-operating income
(expenses)
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(6,244,114 |
) |
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6,990,353 |
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746,239 |
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Net loss
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$ |
(10,452,641 |
) |
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$ |
6,990,353 |
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$ |
(3,462,288 |
) |
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Dividends and accretion to
redemption value of Series E
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(2,770,024 |
) |
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1,635,767 |
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(1,134,257 |
) |
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Net loss attributable to
common stockholders
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$ |
(13,222,665 |
) |
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$ |
8,626,120 |
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$ |
(4,596,545 |
) |
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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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$ |
(0.18 |
) |
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$ |
(0.06 |
) |
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Net loss attributable to
common stockholders
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$ |
(0.18 |
) |
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$ |
(0.06 |
) |
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