XML 70 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Revenue $ 6,627,765 [1] $ 5,341,543
Production 6,471,049 [1] 5,147,181
Start-up and excess capacity 816,111 [1] 0
Gross margin (loss) (659,395) [1] 194,362
Operating expenses:    
Product development and quality management 1,556,203 [1] 1,108,545
Marketing and sales 927,061 [1] 1,003,836
General and administrative 4,232,200 [1] 3,799,327
Total operating expenses 6,715,464 [1] 5,911,708
Loss from operations (7,374,859) [1] (5,717,346)
Other (income) expenses:    
Interest 808,117 [1] 376,980
Amortization of debt discounts 685,761 [1] 510,220
Change in fair value of derivative liabilities 15,320,865 [1] (1,171,419)
Total other (income) expenses 16,814,743 [1] (284,219)
Net loss (24,189,602) [1] (5,433,127)
Accretion of preferred dividends and beneficial conversion feature (1,633,147) (1,666,950)
Net loss attributable to common shareholders $ (25,822,749) $ (7,100,077)
Weighted average common shares - basic and diluted 29,945,608 26,562,764
Basic and diluted net loss per share $ (0.86) $ (0.27)
[1] As the acquisition of the plastics recycling company which provided a second segment to our business, was acquired in November 2013, we did not report segment information for the year ended December 31, 2012.