Acqusitions

6 Months Ended

Jun. 30, 2011

Acqusitions [Abstract]

ACQUISITIONS

NOTE 4 — ACQUISITIONS

TERRASPHERE SYSTEMS LLC

     On November 12, 2010, the Company acquired 95% of the membership interests of TerraSphere Systems LLC. The acquisition will enable the Company to license TerraSphere’s patented Growth System, which is a system of modules and processes for growing plants in a controlled environment. The system uses and controls precise combinations of light, water, nutrition, gravity, centrifugal forces, and gasses to produce growing conditions that can be controlled and manipulated to result in desired plant growth and maximum crop production.

GoLocalProduceRI, LLC

     On December 30, 2010, the Company acquired 83.34% of GoLocalProduceRI, LLC, marking its entrance into the vertical farming industry as owners and operators of what is expected to be the first TerraSphere facility in the United States.

     The unaudited pro forma consolidated financial information including continuing and discontinued operations for the three and six month periods ended June 30, 2010 as though the above acquisitions had been completed at the beginning of the interim period is as follows:

	For the Three			For the Six
	Months Ended			Months Ended
	June 30, 2010			June 30, 2010
Revenue	$	4,634,790		$	7,118,799
Net loss	$	(1,039,478	)	$	(7,039,486	)
Net loss per share, basic and diluted	$	(0.02	)	$	(0.13	)
Weighted-average shares		56,038,773			57,077,419