XML 34 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations and Comprehensive Loss (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Printing $ 852,115 $ 789,232 $ 1,521,743 $ 1,510,996
Packaging 1,574,450 1,183,249 3,669,845 2,219,651
Plastic IDs and cards 799,188 636,727 1,479,370 1,329,706
Licensing and digital solutions 433,635 266,319 831,251 500,415
Total revenue 3,659,388 2,875,527 7,502,209 5,560,768
Costs of revenue        
Printing 632,512 754,032 1,139,220 1,384,095
Packaging 1,200,617 919,681 2,831,099 1,637,968
Plastic IDs and cards 429,842 374,718 829,713 777,147
Licensing and digital solutions 61,821 19,099 117,012 19,099
Total costs of revenue 2,324,792 2,067,530 4,917,044 3,818,309
Gross profit 1,334,596 807,997 2,585,165 1,742,459
Operating expenses:        
Selling, general and administrative 1,959,622 1,720,621 3,757,932 3,235,875
Research and development 223,436 73,818 371,133 125,111
Amortization of intangibles 76,026 62,076 152,052 134,040
Operating expenses 2,259,084 1,856,515 4,281,117 3,495,026
Operating loss (924,488) (1,048,518) (1,695,952) (1,752,567)
Other income (expense):        
Change in fair value of derivative liability       360,922
Interest expense (54,673) (59,225) (125,605) (109,179)
Amortizaton of note discount (11,058)   (237,700)  
Loss before income taxes (990,219) (1,107,743) (2,059,257) (1,500,824)
Income tax expense 4,737 4,737 9,474 9,474
Net loss (994,956) (1,112,480) (2,068,731) (1,510,298)
Other comprehensive loss:        
Interest rate swap (loss) gain (45,134)   (22,492) 3,678
Comprehensive loss $ (1,040,090) $ (1,112,480) $ (2,091,223) $ (1,506,620)
Net loss per share -basic and diluted: $ (0.05) $ (0.06) $ (0.10) $ (0.08)
Weighted average common shares outstanding, basic and diluted 20,711,026 19,420,780 20,391,926 19,416,786