Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.8
Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Revenues:    
Product Sales $ 1,682,780 $ 6,277,663
Television & Home Entertainment 505,552 0
Licensing & Royalties 368,206 292,536
Total Revenues 2,556,538 6,570,199
Cost of Sales (Excluding Depreciation) 1,504,138 4,836,321
Gross Profit 1,052,400 1,733,878
Operating Expenses:    
Product Development 139,082 32,792
Professional Services 451,537 181,172
Rent Expense 24,898 38,982
Marketing & Sales 308,355 727,695
Depreciation & Amortization 160,654 149,823
Salaries and Related Expenses 1,329,715 1,689,064
Stock Compensation Expense 539,185 264,122
Other General & Administrative 460,818 612,513
Total Operating Expenses 3,414,244 3,696,163
Loss from Operations (2,361,844) (1,962,285)
Other Income (Expense):    
Other Income 208 388
Interest Expense (1,663,632) (332,055)
Interest Expense - Related Parties (30,189) (50,259)
Gain (loss) on distribution contracts 4,997 0
Gain (loss) on extinguishment of debt (614,073) 76,280
Gain (loss) on disposition of assets (251,192) 0
Gain (loss) on exchange of warrants (312,144) 0
Gain (loss) on derivative valuation (1,886,943) 200,322
Net Other Income (Expense) (4,752,968) (105,324)
Loss before Income Tax Expense (7,114,812) (2,067,609)
Income Tax Expense 0 0
Net Loss from Continuing Operations (7,114,812) (2,067,609)
Net Loss from Discontinued Operations (101,219) 0
Net Loss $ (7,216,031) $ (2,067,609)
Net Loss per common share from continuing operations $ (5.03) $ (3.00)
Net Loss per common share from discontinued operations $ (0.007) $ 0
Weighted average shares outstanding 1,413,631 689,286