| Selected Quarterly Financial Data (Unaudited) |
(10) Selected Quarterly Financial Data (Unaudited)
| |
Quarter |
| 2015 |
|
First |
|
|
|
Second |
|
|
|
Third |
|
|
|
Fourth (2) |
|
| Fee Income |
$ |
379,398 |
|
|
$ |
803,494 |
|
|
$ |
445,846 |
|
|
$ |
378,744 |
|
| Operating loss |
|
(1,227,427 |
) |
|
|
(492,751 |
) |
|
|
(766,725 |
) |
|
|
(1,836,272 |
) |
| Net loss |
|
(1,216,211 |
) |
|
|
(481,287 |
) |
|
|
(757,320 |
) |
|
|
(1,825,038 |
) |
| Basic and diluted net loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| per common share (1) |
|
(0.05 |
) |
|
|
(0.02 |
) |
|
|
(0.03 |
) |
|
|
(0.08 |
) |
| |
Quarter |
| 2014 |
First |
|
Second |
|
Third |
|
Fourth (2) |
| Fee income |
$ |
308,348 |
|
$ |
395,619 |
|
$ |
452,937 |
|
$ |
441,895 |
|
| Operating loss |
|
(1,178,626 |
) |
|
(1,150,453 |
) |
|
(649,444 |
) |
|
(1,470,360 |
) |
| Net loss |
|
(1,169,985 |
) |
|
(1,141,858 |
) |
|
(639,806 |
) |
|
(1,462,073 |
) |
| Basic and diluted net loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| per common share (1) |
|
(0.05 |
) |
|
(0.05 |
) |
|
(0.03 |
) |
|
(0.06 |
) |
____________________
| |
(1) |
Since per share information is computed independently for each quarter and the full year, based on the respective average number of common shares outstanding, the sum of the quarterly per share amounts does not necessarily equal the per share amounts for the year.
|
| |
(2) |
The Company incurred higher costs in the fourth quarter of 2015 and 2014 primarily due to: (i) $483,000 and $616,000 of stock and option compensation charges in 2015 and 2014, respectively relating to common stock and options granted to directors and employees, and (ii) $324,000 of bad debt
expense in the fourth quarter of 2015.
|
|