Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations And Comprehensive Income (Loss)

v2.4.0.8
Consolidated Statements Of Operations And Comprehensive Income (Loss) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Income Statement [Abstract]    
Revenues $ 1,306,864 $ 1,118,330
Cost of revenues 442,174 375,775
Gross Margin 864,690 742,555
Operating Expenses:    
Labor and related expenses 331,899 357,149
Rent 215,729 234,396
Depreciation 72,394 50,423
Other general and administrative 302,615 415,414
Total Operating Expenses 922,637 1,057,382
Net Operating Income (Loss) (57,947) (314,827)
Other Income (Expense):    
Interest income 584 1,410
Interest expense 535,674 430,299
Unrealized gain (loss) on trading securities (1,725,771) 97,977
Gain (Loss) on sale of marketable securities 1,117,705 (80,456)
Net Other Income (Expense) (1,143,156) (411,368)
Net loss before income taxes (1,201,103) (726,195)
Deferred Income tax (expense) benefit 179,000 (1,219,000)
Net Income (loss) before extraordinary items (1,380,103) 492,805
Extraordinary item (See Note 8)    
Gain on extinguishment of debt (net of income tax of $0)    2,354,988
Net Income (Loss) (1,380,103) 2,847,793
Other Comprehensive Income (Loss):    
Unrealized gain (loss) on available-for-sale securities (net of income tax of $0) 8,384,099 (3,636,000)
Comprehensive Income (Loss) $ 7,003,996 $ (788,207)
Income (Loss) Per Common Share:    
Income (loss) before extraordinary item $ (0.01)   
Extraordinary Item    $ 0.02
Income (loss) per Common Share – Basic $ (0.01) $ 0.03
Income (loss) per Common Share – Diluted $ (0.01) $ 0.02
Weighted Average Common Shares:    
Basic 136,627,710 106,906,125
Diluted 139,853,516 121,612,007