Acquisition of ReliOn Inc (Tables)

9 Months Ended

Sep. 30, 2014

Acquisition of ReliOn Inc.

Summary of preliminary allocation of the purchase price to the estimated fair value of the net assets acquired

Cash and cash equivalents	$	414,000
Accounts receivable	315,975
Inventory	5,161,223
Prepaid expenses and other assets	88,894
Property and equipment	162,990
Identifiable intangibles	980,000
Accounts payable and accrued expenses	(1,682,782		)
Note payable	(426,044		)
Total Net Assets Acquired	$	5,014,256
Gain on bargain purchase	(1,014,256		)
Acquisition consideration	$	4,000,000

Schedule of unaudited pro forma financial information

	Three months ended			Nine months ended			Nine months ended
	September 30, 2013			September 30, 2014			September 30, 2013
Revenue	$	5,459,713		$	43,908,387		$	21,084,004
Net loss attributable to the Company	(17,813,212		)	(82,783,586		)	(39,200,209		)
Basic and diluted loss per share	$	(0.21	)	$	(0.54	)	$	(0.58	)