Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Operations

v3.3.0.814
Condensed Consolidated Statement of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Revenues $ 1,303,663 $ 1,044,254 $ 3,335,080 $ 3,057,360
Cost of revenues 286,503 272,252 820,455 791,486
Gross margin 1,017,160 772,002 2,514,625 2,265,874
Operating expenses        
General and administrative 1,068,157 916,322 3,276,384 2,900,711
Sales and marketing 1,005,520 828,333 2,895,748 2,723,979
Engineering, research, and development 269,273 344,322 584,978 1,026,120
Depreciation and amortization 105,512 116,309 243,998 300,273
Total operating expenses 2,448,462 2,205,286 7,001,108 6,951,083
Loss from operations (1,431,302) (1,433,284) (4,486,483) (4,685,209)
Other income/(expense)        
Interest income 506 132 1,054 2,034
Interest expense   (883)   (2,563)
Intangible asset impairment (21,188)   (21,188)  
Change in fair value of derivative liabilities 41,795 (2,354) 34,980 55,438
Gain on adjustment in contingent consideration 87,740   89,740  
Total other income/(expense) 108,853 (3,105) 104,586 54,909
Loss before income taxes (1,322,449) (1,436,389) (4,381,897) (4,630,300)
Income tax expense   (1,678)   (1,678)
Net loss $ (1,322,449) $ (1,438,067) $ (4,381,897) $ (4,631,978)
Net loss per share - basic and diluted $ (0.05) $ (0.06) $ (0.17) $ (0.22)
Weighted average number of shares during the period - basic and diluted 28,480,322 22,237,762 25,973,592 20,672,880