XML 36 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
COSTS AND EXPENSES        
Administrative and General $ 367,969 $ 280,661 $ 624,557 $ 421,709
Amortization 9,399 6,132 18,695 6,132
Other 15,667 13,990 37,159 27,980
Costs and Expenses 393,035 300,783 680,411 455,821
OTHER (EXPENSE) INCOME        
Amortization of Debt Discount (7,920) (15,447) (25,780) (15,447)
Interest Expense (86,105) (75,397) (169,085) (146,743)
Change in Fair Value of Derivative Liability (477,308) 758,986 875,972 (1,294,190)
Other   6,214   6,214
Other (Expense) Income (571,333) 674,356 681,107 (1,450,166)
NET INCOME (LOSS) (964,368) 373,573 696 (1,905,987)
PREFERRED STOCK DIVIDENDS (25,400) (25,400) (50,800) (50,800)
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS $ (989,768) $ 348,173 $ (50,104) $ (1,956,787)
Net (loss) earnings per common share, basic $ (0.027) $ 0.010    
Net (loss) earnings per common share, fully diluted $ (0.027) $ 0.008    
Net (loss) per common share, basic and fully diluted     $ (0.001) $ (0.054)
Weighted average number of common shares, basic 36,297,576 36,297,576    
Weighted average number of common shares, basic and fully diluted     36,297,576 36,297,576
Weighted average number of common shares, fully diluted 36,297,576 44,934,075