Quarterly report pursuant to sections 13 or 15(d)

Preferred Stock (Tables)

v2.4.0.8
Preferred Stock (Tables)
6 Months Ended
Jun. 30, 2013
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:

 

     Three months ended June 30, 2013  
     As Reported     Series E
Adjustment
     Proforma  

Revenue

   $ 7,357,307      $ —         $ 7,357,307   
  

 

 

   

 

 

    

 

 

 

Gross profit

   $ 3,584,933      $ —         $ 3,584,933   
  

 

 

   

 

 

    

 

 

 

Operating loss

     (1,316,746     —           (1,316,746

Non-operating expenses

     (3,817,813     3,821,270         3,457   
  

 

 

   

 

 

    

 

 

 

Net loss

   $ (5,134,559   $ 3,821,270       $ (1,313,289

Dividends and accretion to redemption value of Series E

     (322,291        (322,291
  

 

 

   

 

 

    

 

 

 

Net loss attributable to common stockholders

   $ (5,456,850   $ 3,821,270       $ (1,635,580
  

 

 

   

 

 

    

 

 

 

Basic and diluted loss per common share:

       

Loss from continuing operations attributable to common stockholders

   $ (0.07      $ (0.02
  

 

 

      

 

 

 

Net loss attributable to common stockholders

   $ (0.07      $ (0.02
  

 

 

      

 

 

 
     Six months ended June 30, 2013  
     As Reported     Series E
Adjustments
     Proforma  

Revenue

   $ 13,668,709      $ —         $ 13,668,709   
  

 

 

   

 

 

    

 

 

 

Gross profit

   $ 7,422,562      $ —         $ 7,422,562   
  

 

 

   

 

 

    

 

 

 

Operating loss

     (4,208,527     —           (4,208,527

Non-operating income (expenses)

     (6,244,114     6,990,353         746,239   
  

 

 

   

 

 

    

 

 

 

Net loss

   $ (10,452,641   $ 6,990,353       $ (3,462,288

Dividends and accretion to redemption value of Series E

     (2,770,024     1,635,767         (1,134,257
  

 

 

   

 

 

    

 

 

 

Net loss attributable to common stockholders

   $ (13,222,665   $ 8,626,120       $ (4,596,545
  

 

 

   

 

 

    

 

 

 

Basic and diluted loss per common share:

       

Loss from continuing operations attributable to common stockholders

   $ (0.18      $ (0.06
  

 

 

      

 

 

 

Net loss attributable to common stockholders

   $ (0.18      $ (0.06