Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v2.4.0.8
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement
Below is a summary of these results:
 
 
 
For Years
 
 
 
Ended December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Sales of Products
 
$
 
$
1,768,754
 
Sales of Engineering Services
 
 
 
 
358,921
 
 
 
 
 
 
 
 
 
Total Sales
 
 
 
 
2,127,675
 
 
 
 
 
 
 
 
 
Total Cost of Sales
 
 
 
 
1,273,907
 
 
 
 
 
 
 
 
 
Gross Profit
 
 
 
 
853,768
 
 
 
 
 
 
 
 
 
Operating Expenses:
 
 
 
 
 
 
 
Research and Development
 
 
 
 
295,138
 
Selling and Marketing
 
 
 
 
200,378
 
General and Administrative
 
 
 
 
 
Depreciation and Amortization
 
 
 
 
 
Interest Expense on Senior Debt*
 
 
 
 
353,584
 
Amortization Senior Debt Discount*
 
 
 
 
752,248
 
Income (Loss) from Discontinued Operations
 
 
 
 
(747,580)
 
 
 
 
 
 
 
 
 
Gain (Loss) on Disposal of Discontinued Operations
 
 
 
 
5,837,607
 
Provision (Benefit) for Income Taxes (Note 21)
 
 
 
 
19,800
 
 
 
 
 
 
5,817,807
 
Net Income (Loss) from Discontinued Operations
 
$
 
$
5,070,227
 
 
 
 
 
 
 
 
 
Basic Income (Loss) per Share
 
$
 
$
1.43
 
Diluted Income (Loss) per Share
 
$
 
$
1.43
 
Weighted-average Shares Outstanding Basic (Note 6)
 
 
 
 
3,536,865
 
Weighted-average Shares Outstanding Diluted (Note 6)
 
 
 
 
3,651,100
 
 
* Amounts reported represent the interest expense and the amortization of the discount on the Senior Term debt that was required to be repaid from the proceeds of the TDG Asset sale.