| Schedule of Discontinued Operations |
The following table summarizes those components of the statement of operations for discontinued brands, which contains additional returns due to the finalization of the reserve for returns and allowances and notification that certain coop programs did not occur leading to the cancellation of specific contracts for this product for the three months ended May 31, 2015 and 2014 and for the six month May 31, 2015 and 2014 :
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Three Months Ended May 31, |
|
Three Months Ended May 31, |
2015 |
|
2014 |
|
Mega |
GP |
Total |
|
Mega |
GP |
Total |
Net Sales |
$ |
— |
|
$ |
286,908 |
|
$ |
286,908 |
|
|
$ |
(2,015,314 |
) |
$ |
(2,978,010 |
) |
$ |
(4,993,324 |
) |
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|
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Income before Provision for |
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|
|
|
|
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Income Taxes |
— |
|
286,908 |
|
286,908 |
|
|
(3,332,270 |
) |
(4,912,103 |
) |
(8,244,373 |
) |
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|
|
|
|
|
|
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Provision for Income Tax |
— |
|
96,634 |
|
96,634 |
|
|
(1,222,757 |
) |
(1,802,468 |
) |
(3,025,225 |
) |
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Net Income (Loss) |
$ |
— |
|
$ |
190,274 |
|
$ |
190,274 |
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|
$ |
(2,109,513 |
) |
$ |
(3,109,635 |
) |
$ |
(5,219,148 |
) |
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Earnings (loss) per Share: |
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Basic |
$ |
— |
|
$ |
0.03 |
|
$ |
0.03 |
|
|
$ |
(0.30 |
) |
$ |
(0.44 |
) |
$ |
(0.74 |
) |
Diluted |
$ |
— |
|
$ |
0.03 |
|
$ |
0.03 |
|
|
$ |
(0.30 |
) |
$ |
(0.44 |
) |
$ |
(0.74 |
) |
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Weighted average shares outstanding |
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Basic |
7,006,684 |
|
7,006,684 |
|
7,006,684 |
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|
7,006,684 |
|
7,006,684 |
|
7,006,684 |
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Diluted |
7,006,684 |
|
7,006,684 |
|
7,006,684 |
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|
7,006,684 |
|
7,006,684 |
|
7,006,684 |
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Six Months Ended May 31, |
|
Six Months Ended May 31, |
2015 |
|
2014 |
|
Mega |
GP |
Total |
|
Mega |
GP |
Total |
Net Sales |
$ |
— |
|
$ |
286,908 |
|
$ |
286,908 |
|
|
$ |
(806,720 |
) |
$ |
(2,725,966 |
) |
$ |
(3,532,686 |
) |
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Income before Provision for |
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Income Taxes |
— |
|
286,908 |
|
286,908 |
|
|
(3,258,651 |
) |
(4,984,508 |
) |
$ |
(8,243,159 |
) |
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Provision for Income Tax |
— |
|
95,661 |
|
95,661 |
|
|
(1,830,259 |
) |
(1,196,543 |
) |
$ |
(3,026,802 |
) |
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Net Income (Loss) |
$ |
— |
|
$ |
191,247 |
|
$ |
191,247 |
|
|
$ |
(1,428,392 |
) |
$ |
(3,787,965 |
) |
$ |
(5,216,357 |
) |
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Earnings (loss) per Share: |
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|
|
|
|
|
|
Basic |
$ |
— |
|
$ |
0.03 |
|
$ |
0.03 |
|
|
$ |
(0.20 |
) |
$ |
(0.54 |
) |
$ |
(0.74 |
) |
Diluted |
$ |
— |
|
$ |
0.03 |
|
$ |
0.03 |
|
|
$ |
(0.20 |
) |
$ |
(0.54 |
) |
$ |
(0.74 |
) |
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Weighted average shares outstanding |
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|
|
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|
Basic |
7,006,684 |
|
7,006,684 |
|
7,006,684 |
|
|
7,006,684 |
|
7,006,684 |
|
7,006,684 |
|
Diluted |
7,006,684 |
|
7,006,684 |
|
7,006,684 |
|
|
7,006,684 |
|
7,006,684 |
|
7,006,684 |
|
The activity for Gel Perfect for the quarter is due to finalization of the reserve for returns and allowances and notification that certain programs did not occur leading to the cancellation of specific contracts for this product.
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