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EXCEL - IDEA: XBRL DOCUMENT - MedPro Safety Products, Inc.Financial_Report.xls
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v2.4.0.6
STATEMENT OF OPERATIONS Statement (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Product Royalty Income $ 631,250    $ 781,250   
Other Revenue 10,042    10,042   
Total revenue 641,292 0 791,292 0
Cost of revenues and amortization of intellectual property 161,932 137,265 297,101 277,612
Gross profit 479,360 (137,265) 494,191 (277,612)
Operating Expenses        
Salaries, wages, and payroll taxes 739,318 2,318,627 1,566,364 4,582,577
Qualified profit sharing plan 14,895 16,842 28,914 31,277
Advertising and promotion 131,513 12,535 169,562 202,971
Product development costs 200,845 238,665 448,297 448,686
Professional and insurance 451,586 442,422 802,895 842,385
Insurance 72,445 53,273 171,948 136,562
General and administrative 150,720 33,430 286,888 104,441
Travel and entertainment 164,725 142,475 239,480 270,224
Loss on disposal of assets       144,114   
Depreciation 69,643 37,620 119,322 73,604
Total operating expenses 1,995,690 3,295,889 3,977,784 6,692,727
Loss from operations (1,516,330) (3,433,154) (3,483,593) (6,970,339)
Other Income (Expenses)        
Interest expense - including amortization of financing costs (1,173,106) (59,754) (2,346,204) (111,108)
Interest income 4,931 5,570 10,432 12,472
Change in fair value of derivative liabilities (214,723) 99,147 186,574 142,075
Total other income /(expenses) (1,382,898) 44,963 (2,149,198) 43,439
Provision for income taxes          0
Net (loss) $ (2,899,228) $ (3,388,191) $ (5,632,791) $ (6,926,900)
Net (loss) per common share        
Basic net (loss) per share $ (0.22) $ (0.26) $ (0.43) $ (0.53)
Diluted net (loss) per share $ (0.22) $ (0.26) $ (0.43) $ (0.53)
Shares used in computing earnings per share        
Weighted average number of sharesoutstanding - basic 12,984,050 13,166,609 13,043,620 13,190,825
Weighted average number of shares outstanding - diluted 12,984,050 13,166,609 13,043,620 13,190,825