Unaudited Pro-Forma Operating Loss for the Year Ended December 31, 2013
12 Months Ended
Dec. 31, 2014
Disclosure Text Block Supplement [Abstract]  
Unaudited Pro-Forma Operating Loss for the Year Ended December 31, 2013

15. Unaudited Pro-Forma Operating Loss for the Year Ended December 31, 2013

 

The following table presents Unaudited Pro-Forma Operating Loss for the Company for the year ended December 31, 2013 based on the assumption that both Reach Media and Symon had been acquired on January 1, 2013. These results are not, however, intended to reflect actual operations of the Company had the acquisitions occurred on January 1, 2013. 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.

·

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
Revenues   $ 72,294,886
Cost of Revenues     38,667,085
Gross Profit     33,627,801
Operating Expenses     44,678,417
Operating Loss     (11,050,616)