• Filing Date: 2013-11-07
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Consolidated Condensed Statements of Income (Operations) (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 27, 2013
Sep. 28, 2012
Sep. 27, 2013
Sep. 28, 2012
Income Statement [Abstract]        
Revenue $ 25,910,195 $ 28,384,931 $ 69,109,474 $ 71,748,142
Cost of staffing services 19,226,068 21,047,247 51,323,507 53,755,648
Gross Profit 6,684,127 7,337,684 17,785,967 17,992,494
Selling, general and administrative expenses 4,415,906 6,277,242 14,573,936 15,663,556
Depreciation and amortization 66,812 81,871 283,861 285,271
Income from operations 2,201,409 978,571 2,928,170 2,043,667
Interest expense and other financing expense (89,367) (221,220) (428,753) (560,085)
Change in fair value of derivative liability (884,099) 372,188 (786,695) 217,543
Net income before income taxes 1,227,943 1,129,539 1,712,722 1,701,125
Provision for income taxes    (407,695)    (698,195)
Net Income $ 1,227,943 $ 721,844 $ 1,712,722 $ 1,002,930
Earnings per share:        
Basic $ 0.02 $ 0.01 $ 0.03 $ 0.02
Diluted $ 0.02 $ 0.01 $ 0.03 $ 0.02
Weighted average shares outstanding:        
Basic 59,611,242 59,301,342 59,611,242 59,167,829
Diluted 61,458,761 62,805,231 61,275,207 62,964,574