Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Income Statement    
Equipment sales $ 101,119us-gaap_SalesRevenueNet $ 253,463us-gaap_SalesRevenueNet
Service revenue 92,962us-gaap_SalesRevenueServicesNet 25,000us-gaap_SalesRevenueServicesNet
Other revenue 6,120us-gaap_OtherSalesRevenueNet 34,017us-gaap_OtherSalesRevenueNet
Total revenue 200,201us-gaap_Revenues 312,480us-gaap_Revenues
Costs of goods sold 113,251us-gaap_CostOfGoodsSold 188,002us-gaap_CostOfGoodsSold
Gross profit 86,950us-gaap_GrossProfit 124,478us-gaap_GrossProfit
Expenses:    
Selling, general and administrative 2,844,784us-gaap_SellingGeneralAndAdministrativeExpense 2,818,736us-gaap_SellingGeneralAndAdministrativeExpense
Research and development 189,745us-gaap_ResearchAndDevelopmentExpense 267,062us-gaap_ResearchAndDevelopmentExpense
Loss on extinguishment of debt 822,205us-gaap_GainsLossesOnExtinguishmentOfDebt  
Impairment of goodwill 390,659us-gaap_GoodwillImpairmentLossNetOfTax  
Total expenses 4,247,393us-gaap_OperatingExpenses 3,085,798us-gaap_OperatingExpenses
Loss from operations (4,160,443)us-gaap_IncomeLossFromContinuingOperations (2,961,320)us-gaap_IncomeLossFromContinuingOperations
Other Income and Expense:    
Interest income 249us-gaap_InvestmentIncomeInterest 2,394us-gaap_InvestmentIncomeInterest
Interest expense (365,956)us-gaap_InterestExpense (109,725)us-gaap_InterestExpense
Total other income and expense (365,707)us-gaap_OtherOperatingIncomeExpenseNet (107,331)us-gaap_OtherOperatingIncomeExpenseNet
Loss before income taxes (4,526,150)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (3,068,651)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income taxes (100)us-gaap_IncomeTaxExpenseBenefit (50)us-gaap_IncomeTaxExpenseBenefit
Net loss (4,526,250)us-gaap_NetIncomeLoss (3,068,701)us-gaap_NetIncomeLoss
Preferred stock cumulative dividend and deemed dividend 1,502,891us-gaap_DistributedEarnings 21,302us-gaap_DistributedEarnings
Net loss available to common stockholders $ (6,029,141)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (3,090,003)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Net loss per common share basic and diluted $ (0.68)us-gaap_EarningsPerShareBasicAndDiluted $ (0.61)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average shares outstanding basic and diluted 8,857,815us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 5,037,405us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted