Annual report pursuant to section 13 and 15(d)

Condensed Consolidated Interim Statements of Operations (Unaudited)

v2.4.0.6
Condensed Consolidated Interim Statements of Operations (Unaudited) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Income Statement [Abstract]    
Revenue $ 44,287,509 $ 42,350,640
Cost of revenues, exclusive of depreciation and amortization, shown separately below 37,662,371 38,067,888
Gross profit 6,625,138 4,282,752
Operating expenses:    
Depreciation and amortization 998,789 516,892
Loss on impairment of long-lived assets    163,126
Selling general and administrative expenses (including approximately $200,000 and $97,000 of stock-based compensation for the year ended December 31, 2012 and 2011) 10,438,967 7,912,298
Total operating expenses 11,437,756 8,592,316
Operating loss (4,812,618) (4,309,564)
Other income (expense):    
Interest income 11,470 5,107
Interest expense (623,460) (206,290)
Other income (expense), net 176,020 46,319
Total other income (expenses) (435,970) (154,864)
Loss from continuing operations (5,248,588) (4,464,428)
Discontinued operations:    
Income/(loss) from discontinued operations 41,345 9,723
Net loss (5,207,243) (4,454,705)
Loss applicable to common stockholders:    
Loss from continuing operations (5,248,588) (4,464,428)
Preferred stock dividends in arrears (403,600) (470,175)
Net loss from continuing operations applicable to common stockholders: (5,652,188) (4,934,603)
Income from discontinued operations 41,345 9,723
Net loss applicable to common stockholders: $ (5,610,843) $ (4,924,880)
Basic and diluted loss per common share:    
Loss from continuing operations $ (0.03) $ (0.03)
Loss from discontinued operations $ 0.00 $ 0.00
Loss per common share, Basic and diluted $ (0.03) $ (0.03)
Weighted average common shares outstanding:    
Basic and diluted 166,726,031 141,688,704