• Filing Date: 2013-04-12
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
REVENUES $ 1,173,544 $ 2,209,685
COST OF GOODS SOLD 798,532 799,626
GROSS PROFIT 375,012 1,410,059
GENERAL AND ADMINISTRATIVE EXPENSES:    
General and Administrative Expenses 2,757,725 2,232,617
Depreciation / Amortization 61,172 470,619
Bad Debt Expense 2,416,272 513,321
Non-Cash Compensation 531,284 0
Impairment of intangible assets, 27,044 3,208,372
INCOME (LOSS) FROM CONTINUING OPERATIONS: (5,418,485) (5,014,870)
OTHER INCOME (EXPENSES):    
Gain (Loss) on Debt Settlement 97,084 (1,128,914)
Gain (Loss) from Joint Venture (27,137) 27,137
Change in fair value of Derivative Liability 4,651,061 (96,490)
Interest Income 166,538 277,770
Interest Expense (286,620) (262,340)
Debt related Expense (1,027,764) (6,543,109)
LOSS BEFORE INCOME TAXES (1,845,323) (12,740,816)
Current tax expense 0 0
Deferred tax expense 0 0
NET LOSS $ (1,845,323) $ (12,740,816)
Basic and diluted loss per share of common stock $ (0.03) $ (0.23)
Weighted average number of common shares outstanding 62,838,381 54,702,212