Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Revenues $ 1,027,993 $ 1,013,206
Cost of revenues 284,622 367,769
Gross margin 743,371 645,437
Operating expenses    
General & administrative 532,628 917,582
Sales & marketing 362,896 347,251
Engineering, research, & development 94,055 160,213
Depreciation & amortization 33,813 154,617
Total operating expenses 1,023,392 1,579,663
Loss from operations (280,021) (934,226)
Other income/(expense)    
Interest income 3   
Interest expense (1,447,359) (358,178)
Change in fair value of derivative liabilities (1,001,550) (460,487)
Gain on adjustment in contingent consideration 305,712 60,651
Total other income/(expense) (2,143,194) (758,014)
Loss before income taxes (2,423,215) (1,692,240)
Income tax expense      
Net loss $ (2,423,215) $ (1,692,240)
Net loss per share - basic and diluted $ (0.10) $ (0.07)
Weighted average number of shares during the period - basic and diluted 23,218,117 22,797,641