XML 23 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (unaudited) (USD $)
3 Months Ended 6 Months Ended
Nov. 30, 2011
Nov. 30, 2010
Nov. 30, 2011
Nov. 30, 2010
Revenues        
Equipment sales $ 876,751 $ 1,188,756 $ 1,151,711 $ 1,913,275
Equipment rentals and services 456,210 600,798 943,198 1,144,690
Commissions 8,620,367 2,011,188 12,186,855 2,018,624
Total revenues 9,953,328 3,800,742 14,281,764 5,076,589
Cost of revenues        
Cost of sales, equipment 539,297 791,855 700,251 1,191,184
Cost of equipment rentals and services 222,031 225,016 460,878 461,709
Cost of commissions 1,799,933 421,963 2,902,041 423,913
Total cost of revenues 2,561,261 1,438,834 4,063,170 2,076,806
Gross profit 7,392,067 2,361,908 10,218,594 2,999,783
Operating expenses        
Selling, general and administrative 4,791,028 3,408,868 9,165,913 6,513,547
Research and development 138,426 106,079 273,555 216,468
Total operating expenses 4,929,454 3,514,947 9,439,468 6,730,015
Operating income/(loss) 2,462,613 (1,153,039) 779,126 (3,730,232)
Other income (expenses)        
Interest and financing costs (4,612) (2,853) (6,872) (6,496)
Interest and other income, net 21,666 12,612 42,851 16,144
Amortization of deferred gain on sale-leaseback of building 13,312 13,312 26,623 26,623
Total other income, net 30,366 23,071 62,602 36,271
Income/(loss) before income taxes 2,492,979 (1,129,968) 841,728 (3,693,961)
Income tax benefit/(expense), net (24,329) (1,500) (26,129) (7,330)
Net income/(loss) 2,468,650 (1,131,468) 815,599 (3,701,291)
Preferred stock dividends (1,135,869) (124,403) (1,221,362) (152,111)
Net loss applicable to common stockholders 1,332,781 (1,255,871) (405,763) (3,853,402)
Other comprehensive income/(loss)        
Foreign currency adjustments 3,999 0 3,999 0
Comprehensive income/(loss) $ 1,336,780 $ (1,255,871) $ (401,764) $ (3,853,402)
Net income/(loss) per common share        
- basic (in dollars per share) $ 0.01 $ (0.01) $ 0.00 $ (0.03)
- diluted (in dollars per share) $ 0.01 $ (0.01) $ 0.00 $ (0.03)
Weighted average common shares outstanding        
- basic (in shares) 153,310,322 111,123,353 145,387,954 110,775,966
- diluted (in shares) 160,078,677 111,123,353 145,387,954 110,775,966