Note 14 - Pro-Forma Operating Income for the Year Ended December 31, 2013 and 2012
 12 Months Ended
Dec. 31, 2013
Disclosure Text Block Supplement [Abstract]  
Subsequent Event, Pro Forma Business Combinations or Disposals [Text Block]

14. Unaudited Pro- Forma Operating Income for the Year Ended December 31, 2013 and 2012


The following table presents Unaudited Pro-Forma Operating Income (Loss) for the Company for the year ended December 31, 2013 and 2012 based on the assumption that both Reach Media and Symon had been acquired on January 1, 2012. These results are not, however, intended to reflect actual operations of the Company had the acquisitions occurred on January 1, 2012. Operating expenses do not included any acquisition related expenses. In addition, the analysis includes the effect of the following entries required under GAAP purchase accounting guidelines:


 

●

Amortization expense includes amortization of the fair value Intangible Assets that were acquired.

 

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Revenues have been reduced due to an adjustment of deferred revenue existing at the acquisition date to market value at the acquisition date.


   

December 31,

2013

   

December 31,

2012

 

Revenues

  $ 72,294,886     $ 64,632,528  

Cost of Revenues

    38,667,085       33,173,716  

Gross Profit

    33,627,801       31,458,812  

Operating Expenses

    44,678,417       34,148,728  

Operating Income (Loss)

    (11,050,616 )     (2,689,916 )