Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Income Statement [Abstract]        
Revenues $ 3,824,500 $ 1,524,979 $ 6,604,500 $ 1,524,979
Cost of revenues 1,753,833 284,625 2,864,412 284,625
Gross profit 2,070,667 1,240,354 3,740,088 1,240,354
Amortization of patents 939,781 475,680 1,392,326 475,680
Compensation and related taxes 712,131 1,041,353 1,442,118 1,468,028
Consulting fees 336,447 130,685 764,554 175,909
Professional fees 268,616 289,752 525,472 448,224
General and administrative 130,521 122,976 212,185 206,982
Total operating expenses 2,386,394 2,060,446 4,336,655 2,774,823
Operating loss from continuing operations (315,727) (820,092) (596,567) (1,534,469)
Other income (expenses)        
Interest income (2,770)    (2,770)   
Interest income 266 (229) 494 (459)
Interest expense (20) 349 20 640
Total other income (expenses) (2,524) 120 (2,296) 181
Loss from continuing operations before provision for income taxes (318,251) (819,972) (598,863) (1,534,288)
Provision for income taxes            
Loss from continuing operations (318,251) (819,972) (598,863) (1,534,288)
Discontinued operations:        
Income from discontinued operations, net of tax    9,473    118,253
Net loss (318,251) (810,499) (598,863) (1,416,035)
Deemed dividends related to beneficial conversion feature of Series A preferred stock (1,271,492)    (1,271,492)   
Net loss available to common shareholders $ (1,589,743) $ (810,499) $ (1,870,355) $ (1,416,035)
Loss available to common shareholders, per common share, basic and diluted:        
Loss from continuing operations $ (0.29) $ (0.19) $ (0.34) $ (0.40)
Loss from discontinued operations          $ 0.03
Total loss per common shares, basic and diluted $ (0.29) $ (0.19) $ (0.34) $ (0.37)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted 5,508,323 4,249,120 5,490,145 3,874,283