XML 56 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUE        
Artifact sales and other $ 323,264 $ 227,574 $ 887,866 $ 1,030,646
Exhibit 25,000 20,691 26,484 80,691
Expedition   5,480   5,480
Total revenue 348,264 253,745 914,350 1,116,817
OPERATING EXPENSES        
Cost of sales - artifacts and other 57,885 95,084 177,490 240,785
Marketing, general and administrative 2,394,323 2,928,570 5,408,848 5,719,891
Operations and research 2,747,707 9,511,112 9,843,390 15,244,345
Total operating expenses 5,199,915 12,534,766 15,429,728 21,205,021
INCOME (LOSS) FROM OPERATIONS (4,851,651) (12,281,021) (14,515,378) (20,088,204)
OTHER INCOME (EXPENSE)        
Interest income 22,586 56 24,637 2,755
Interest expense (135,307) (918,486) (662,927) (1,989,541)
Change in derivative liabilities fair value 553,693 1,998,599 370,979 1,336,189
(Loss) from unconsolidated entity (522,500)   (522,500)  
Other 11,346 1,376 21,043 24,687
Total other income (expense) (70,182) 1,081,545 (768,768) (625,910)
(LOSS) BEFORE INCOME TAXES (4,921,833) (11,199,476) (15,284,146) (20,714,114)
Income tax benefit (provision) 481,055 50,000 481,055 (100,742)
NET (LOSS) BEFORE NON-CONTROLLING INTEREST (4,440,778) (11,149,476) (14,803,091) (20,814,856)
Non-controlling interest 424,897 253,500 988,452 253,500
NET (LOSS) $ (4,015,881) $ (10,895,976) $ (13,814,639) $ (20,561,356)
NET (LOSS) PER SHARE        
Basic and diluted (See NOTE B) $ (0.05) $ (0.14) $ (0.16) $ (0.26)
Weighted average number of common shares outstanding with participating securities per the two-class method        
Basic 84,898,133 79,345,030 84,420,661 78,350,236
Diluted 84,898,133 79,345,030 84,420,661 78,350,236