Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.8
Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Revenues $ 13,455,472 $ 710,500 $ 20,059,972 $ 2,235,479
Cost of revenues (cost of revenue is exclusive of patent amortization) 5,584,542 403,013 8,448,954 687,638
Gross profit 7,870,930 307,487 11,611,018 1,547,841
Amortization of patents and website 1,480,311 384,977 2,872,638 860,657
Compensation and related taxes 824,165 470,786 2,266,283 1,938,814
Consulting fees 785,601 269,012 1,550,155 444,921
Professional fees 408,280 116,373 933,751 564,597
General and administrative 166,216 108,278 380,400 315,260
Total operating expenses 3,664,573 1,349,426 8,003,227 4,124,249
Operating income (loss) from continuing operations 4,206,357 (1,041,939) 3,607,791 (2,576,408)
Other income (expenses)        
Other income 4,187    4,187   
Other expense (24,994)    (25,764)   
Realized loss - available for sale    (38,819)    (38,819)
Impairment of goodwill (2,144,488)    (2,144,488)   
Interest income 138 474 632 1,114
Interest expense    (243) (20) (702)
Total other income (expenses) (2,165,157) (38,588) (2,165,453) (38,407)
Income (loss) from continuing operations before benefit for income taxes 2,041,200 (1,080,527) 1,442,338 (2,614,815)
Income tax benefit 1,481,404    1,481,404   
Income (loss) from continuing operations 3,522,604 (1,080,527) 2,923,742 (2,614,815)
Discontinued operations:        
Income from discontinued operations, net of tax    145,207    263,460
Net income (loss) 3,522,604 (935,320) 2,923,742 (2,351,355)
Deemed dividends related to beneficial conversion feature of Series A Convertible Preferred Stock       (1,271,492)   
Net income (loss) available to common shareholders $ 3,522,604 $ (935,320) $ 1,652,250 $ (2,351,355)
Income (loss) per common share, basic:        
Income (loss) from continuing operations $ 0.61 $ (0.21) $ 0.52 $ (0.60)
Income from discontinued operations    $ 0.03    $ 0.06
Total income (loss) per common share, basic $ 0.61 $ (0.18) $ 0.52 $ (0.54)
Income (loss) per common share, diluted:        
Income (loss) from continuing operations $ 0.44 $ (0.21) $ 0.39 $ (0.60)
Income from discontinued operations    $ 0.03    $ 0.06
Total income (loss) per common share, diluted $ 0.44 $ (0.18) $ 0.39 $ (0.54)
OUTSTANDING - Basic 5,750,250 5,227,840 5,598,687 4,330,208
OUTSTANDING - Diluted 7,983,227 5,227,840 7,463,252 4,330,208