Quarterly report pursuant to sections 13 or 15(d)

Acquisitions - Securities America (Tables)

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Acquisitions - Securities America (Tables)
9 Months Ended
Sep. 30, 2012
Changes in Carrying Value of Contingent Consideration Classified as Accounts Payable and Accrued Liabilities

Set forth below are changes in the carrying value of contingent consideration classified as accounts payable and accrued liabilities.

 

Nine months Ended September 30, 2012:        
Fair value of contingent consideration as of December 31, 2011   $ 7,111  
Change in fair value of contingent consideration     (7,111 )
Fair value of contingent consideration as of September 30, 2012   $  
Unaudited Pro Forma Information Represents Consolidated Results of Operations

The following unaudited pro forma information represents the Company’s consolidated results of operations as if the acquisition of Securities America had occurred at the beginning of 2011. The pro forma net loss reflects amortization of the amounts ascribed to intangible assets acquired in the acquisition, amortization related to forgivable loans, compensation related to stock option grants to independent contractors and employees, and interest expense on debt used to finance such acquisition and related cash requirements.

 

    Three Months
Ended
    Nine Months
Ended
 
    September 30,
2011
    September 30,
2011
 
Total revenue   $ 150,491     $ 508,706  
Net loss   $ (12,538 )   $ (28,746 )
Basic and diluted loss per share   $ (0.07 )   $ (0.16 )
Weighted average common shares outstanding — basic and diluted     182,810,137       183,068,493