Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Product $ 6,654,282 $ 6,632,108
Recurring 4,526,680 4,328,080
Total Revenues 11,180,962 10,960,188
Product 3,820,753 3,902,183
Recurring 1,146,252 1,258,610
Total Cost of Sales 4,967,005 5,160,793
Gross Profit 6,213,957 5,799,395
Research and development 775,329 1,130,383
Selling, general and administrative 4,652,527 5,720,141
Impairment of goodwill 3,100,000  
Depreciation and amortization 268,575 353,382
Total Operating Expenses 8,796,431 7,203,906
Loss from Operations (2,582,474) (1,404,511)
Interest expense, net (263,702) (642,267)
Gain (loss) on derivative liability 172,476 (20,476)
Gain on sale of product line 829,296  
Impairment of investment in marketable securities   (8,000)
Gain (loss) on disposal of property and equipment 2,165 (103,763)
Total Other Income (Expenses) 740,235 (774,506)
Loss Before Provision for Income Taxes (1,842,239) (2,179,017)
Provision for Income Taxes 60,000   
Net Loss (1,902,239) (2,179,017)
Accretion of preferred dividends and discount (699,895) (264,721)
Net loss attributable to common stockholders $ (2,602,134) $ (2,443,738)
Net loss per common share – basic (in Dollars per share) $ (0.02) $ (0.02)
Net loss per common share – diluted (in Dollars per share) $ (0.02) $ (0.02)
Weighted Average Common Shares Outstanding – basic (in Shares) 102,570,300 98,233,829
Weighted Average Common Shares Outstanding – diluted (in Shares) 103,790,946 98,233,829