|
Consolidated Statements of Operations (USD $)
|
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Revenues: | ||
| Subscription revenue | $ 18,910,070 | $ 18,781,368 |
| Advertising revenue | 336,666 | 374,175 |
| Total revenues | 19,246,736 | 19,155,543 |
| Costs and expenses: | ||
| Programming, hosting and technology | 4,444,550 | 2,587,822 |
| Compensation | 3,625,117 | 1,976,384 |
| Professional fees | 703,125 | 558,136 |
| Advertising and marketing | 9,876,097 | 14,626,963 |
| General and administrative | 3,953,795 | 3,070,178 |
| Total costs and expenses | 22,602,684 | 22,819,483 |
| Loss from operations | (3,355,948) | (3,663,940) |
| Interest income, net | 21,517 | 28,858 |
| Mark-to-market adjustment on warrant liability | (679,325) | 2,038,000 |
| Other income (expense) | (16,885) | 3,909 |
| Net loss before income taxes: | (4,030,641) | (1,593,173) |
| Provision for income taxes | ||
| Net loss | $ (4,030,641) | $ (1,593,173) |
| Net loss per common share: | ||
| Basic and diluted | $ (0.10) | $ (0.04) |
| Weighted average number of common shares used in calculating net loss per common share: | ||
| Basic and diluted | 38,611,758 | 37,619,208 |