Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Revenues $ 12,789,892 $ 11,797,813
Cost of revenues 7,728,244 7,425,857
Gross margin 5,061,648 4,371,956
Operating expenses    
Selling, general and administrative 9,801,377 3,309,079
Professional and legal fees 1,778,612 486,654
One-time professional and legal fees 911,456 0
Depreciation and amortization 564,839 82,342
Operating expenses 13,056,284 3,878,075
(Loss) income from operations (7,994,636) 493,881
Other expense (income)    
Interest expense, net 281,411 147,069
Loss on debt extinguishment 0 57,502
Loss on derivative liability 9,292,720 0
Other income (5,619) (20,000)
Other expenses, net 9,568,512 184,571
(Loss) income before income tax benefit (17,563,148) 309,310
Income tax benefit 451,858 161,255
Net (loss) income $ (17,111,290) $ 470,565
Net (loss) income per common share – basic (in Dollars per share) $ (0.22) $ 0.01
Weighted average common shares – basic (in Shares) 78,227,127 48,500,156
Net (loss) income per common share – diluted (in Dollars per share) $ (0.22) $ 0.01
Weighted average common share - diluted (in Shares) 78,227,127 48,668,720