XML 46 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES $ 16,994,858 $ 14,555,908 $ 52,123,171 $ 36,552,708
COST OF REVENUES (including amortization and depreciation of $290,011, $309,276, $873,724, and $976,116, respectively) 13,875,473 10,571,518 42,127,589 26,487,285
GROSS PROFIT 3,119,385 3,984,390 9,995,582 10,065,423
OPERATING EXPENSES        
Sales and Marketing 764,845 868,152 2,333,039 2,751,323
General and Administrative Expenses (including share-based compensation of $89,229, $70,397, $208,091 and $237,101, respectively) 3,893,348 3,816,100 11,507,309 10,538,220
Depreciation and Amortization 92,968 179,977 283,211 392,706
Total Operating Expenses 4,751,161 4,864,229 14,123,559 13,682,249
LOSS FROM OPERATIONS (1,631,776) (879,839) (4,127,977) (3,616,826)
OTHER INCOME (EXPENSE)        
Interest Income 7,020 6,290 17,924 11,614
Interest (Expense) (30,868) (47,020) (111,253) (139,578)
Other Income (Expense) (37,814) (5,159) 37,826 6,640
Total Other Income (Expense) (61,662) (45,889) (55,503) (121,324)
LOSS BEFORE PROVISION FOR INCOME TAXES (1,693,438) (925,728) (4,183,480) (3,738,150)
INCOME TAX PROVISION 69,842 4,975,968 147,187 3,759,483
NET LOSS $ (1,763,280) $ (5,901,696) $ (4,330,667) $ (7,497,633)
BASIC EARNINGS PER SHARE (in dollars per share) $ (0.021) $ (0.081) $ (0.053) $ (0.106)
BASIC WEIGHTED-AVERAGE SHARES OUTSTANDING (in shares) 82,515,103 73,195,464 82,130,665 71,029,985
DILUTED EARNINGS PER SHARE (in dollars per share) $ (0.021) $ (0.081) $ (0.053) $ (0.106)
DILUTED WEIGHTED-AVERAGE SHARES OUTSTANDING (in shares) 82,515,103 73,195,464 82,130,665 71,029,985