Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Operations (Unaudited)

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Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue        
Project revenue $ 1,017,855 $ 574,487 $ 1,522,824 $ 1,055,234
Maintenance and technical support 591,014 575,012 1,188,139 1,154,689
Total Revenue 1,608,869 1,149,499 2,710,963 2,209,922
Cost of Goods Sold        
Project revenue 529,889 388,410 864,384 773,701
Maintenance and technical support 223,394 179,295 437,789 388,048
Total Cost of Revenue 753,283 567,706 1,302,173 1,161,748
Gross Profit 855,586 581,793 1,408,790 1,048,174
Operating Expenses        
Selling and marketing expenses 84,736 65,198 144,064 134,475
Salaries, wages and contract labor 632,226 506,212 1,221,853 1,069,538
Research and development 41,661 46,630 91,497 98,433
Professional Fees 34,827 (3,300) 125,132 925
General and administrative expenses 360,527 $ 75,049 489,168 $ 206,854
Impairment loss 1,578,816   1,578,816  
Total Operating Expenses 2,732,793 $ 689,788 3,650,530 $ 1,510,225
Loss from Operations (1,877,209) (107,995) (2,241,740) (462,051)
Interest expense $ (175,118) $ (32,350) (566,212) $ (58,512)
Gain on settlement of accounts payable     3,200  
Other income, net $ 5 $ 11 6 $ 14
Total Other Income (Expense) (175,113) (32,339) (563,006) (58,497)
Loss before income taxes $ (2,052,322) (140,333) $ (2,804,746) (520,548)
Franchise tax   (860)   (860)
Net (Loss) $ (2,052,322) (141,193) $ 2,804,746 (521,408)
Preferred stock dividends   (134,094)   (268,188)
Net loss applicable to common stock $ (2,052,322) $ (275,287) $ (2,804,746) $ (789,596)
Basic $ (0.03) $ (0.01) $ (0.05) $ (0.01)
Diluted $ (0.03) $ (0.01) $ (0.05) $ (0.01)
Basic 60,811,682 56,605,329 59,278,951 56,605,329
Diluted 60,811,682 56,605,329 59,278,951 56,605,329