Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Interim Statements of Operations (Unaudited)

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Condensed Consolidated Interim Statements of Operations (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Income Statement [Abstract]    
Revenue $ 22,904,829 $ 16,168,421
Cost of revenues, exclusive of depreciation and amortization, shown separately below 12,229,032 11,751,596
Gross profit 10,675,797 4,416,825
Depreciation and amortization 2,567,491 849,915
Selling general and administrative expenses (including stock-based compensation of approximately $69,000 and $48,000 for the three months ended March 31, 2014 and 2013, respectively) 7,819,397 4,267,597
Total operating expenses 10,386,888 5,117,512
Operating income (loss) 288,909 (700,687)
Other (expenses) income:    
Interest expense (1,394,546) (659,519)
Loss on extinguishment of debt    (58,203)
Change in fair value of derivative liability 2,609,947 (133,250)
Other expenses, net (41,074) (44,621)
Total other income (expenses) 1,174,327 (895,593)
Net income (loss) before income taxes 1,463,236 (1,596,280)
Provision for income taxes 21,495   
Net income (loss) 1,441,741 (1,596,280)
Preferred stock dividends in arrears (442,088) (99,246)
Net loss applicable to common stockholders: $ 1,021,148 $ (1,695,526)
Basic earnings (loss) per common share (1): $ 0.17 $ (0.47)
Diluted earnings (loss) per common share (1): $ 0.13 $ (0.47)
Weighted average common shares outstanding (1):    
Basic 6,078,546 3,573,410
Diluted 11,427,988 3,573,410