Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Income Statement [Abstract]    
Sales $ 3,940,323 $ 2,514,340
Cost of sales 2,509,921 1,583,459
Gross Profit 1,430,402 930,881
Selling, general and administrative 3,257,091 2,295,753
Loss from Operations (1,826,689) (1,364,872)
Other Income (Expense)    
Gain on settlement of contingent consideration 176,497 0
Impairment of intangible assets 0 (126,130)
Interest income 2,244 2
Amortization of debt discount (753,935) (166,121)
Amortization of deferred financing fees (4,368) 0
Loss on extinguishment of debt (142,925) 0
Loss on settlement of liabilities (8,975) 0
Interest expense (245,496) (141,860)
Total Other (Expense) (976,958) (434,109)
Loss before provision for income taxes (2,803,647) (1,798,981)
Provision for income taxes 0 0
Net loss (2,803,647) (1,798,981)
Preferred Stock Dividend (50,000) (50,000)
Net Loss Available to Common Shareholders $ (2,853,647) $ (1,848,981)
Loss per Share – Basic and Diluted $ (0.13) $ (0.12)
Weighted Average Number of Shares - Basic and Diluted 21,690,051 15,538,129