Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Consulting Revenue $ 981,016 $ 2,292,549 $ 2,238,537 $ 3,870,643
Cost of Consulting Services Provided 607,780 1,575,624 1,377,465 2,668,643
Gross Margin 373,236 716,925 861,072 1,202,000
Operating Expenses        
General and administrative 1,246,233 1,480,471 2,191,595 3,120,657
Research and development expenses 518,360 539,155 1,015,068 1,125,795
Total Operating Expenses 1,764,593 2,019,626 3,206,663 4,246,452
Operating loss (1,391,357) (1,302,701) (2,345,591) (3,044,452)
Other Income and (Expenses)        
Investment income 81,510 140,478 233,068 246,300
Other income (expenses) (5,089) 291 1,053 (2,519)
Total Other Income and Expenses 76,421 140,769 234,121 243,781
Net loss before income taxes (1,314,936) (1,161,932) (2,111,470) (2,800,671)
Income taxes 0 0 0 0
Net loss $ (1,314,936) $ (1,161,932) $ (2,111,470) $ (2,800,671)
Net Loss Per Common Share, Basic and diluted $ (0.11) $ (0.09) $ (0.17) $ (0.23)
Weighted Average Number of shares outstanding 12,491,750 12,362,929 12,462,182 12,358,117