Discontinued Operations

12 Months Ended

Dec. 31, 2012

Discontinued Operations [Abstract]

Discontinued Operations

Note 14 - Discontinued Operations

In March of 2012, the Company decided to discontinue the operations of its Superior Galleries subsidiary due to the lack of profitability and management's belief that it was unlikely that profitability would be reached in the foreseeable future. The Company officially discontinued operations on June 8, 2012 but continued to incur losses during 2012 for the discontinued operations. The operating results and any gain or loss on the disposition of Superior Galleries assets of the for the years ended December 31, 2012 and 2011 have been reclassified as discontinued operations in the consolidated financial statements as detailed in the table below.

	Year Ended December 31,
	2012			2011
Revenue:
Sales	$	3,168,438		$	10,468,367
Costs and expenses:
Cost of sales		2,861,477			9,199,484
S,G&A expenses		417,303			1,732,596
Depreciation and amortization		220,384			123,701
		3,499,164			11,055,781
Operating loss		(330,726	)		(587,414	)
Other (expense)/income, net		(352,476	)		-
Interest expense		(6,311	)		-
		(358,787	)		-
Loss from discontinued operations before income taxes		(689,513	)		(587,414	)
Income tax expense		-			-
Loss from discontinued operations after income taxes	$	(689,513	)	$	(587,414	)

Interest expense reported in discontinued operations relates to only the operations of Superior Galleries, and does not include any allocation of other corporate interest expense. The Company has reclassified certain prior year amounts pertaining to Superior Galleries in the accompanying consolidated balance sheet related to inventory, property and equipment, accrued liabilities and long-term debt to conform to the Company's fiscal year 2012 presentation