Discontinued operations are comprised of the Company’s car wash operations. The results of these operations are shown as discontinued operations for financial reporting purposes. These operations generated a loss of approximately $(504,000), or $(0.01) per share, and $(262,000), or $(0.01) per share, for the three months ended September 30, 2012 and 2011 respectfully. The $(504,000) loss in the third quarter of 2012, included expenses associated with a Lease Assignment and Release Agreement on one of the remaining car wash and lube facilities; and accrued expenses to further monitor and test two car wash locations.
Net loss for the three months ended September 30, 2012 was approximately $(1.2) million, or $(0.02) per share, compared to a net loss of approximately $(2.1) million, or $(0.05) per share, for the three months ended September 30, 2011. Weighted average shares for computing loss per share for the three months ending September 30, 2012 and 2011 were 58,946,441 and 43,571,698 respectively.
Financial Results, Nine Months Ended September 30, 2012 and 2011
Revenues were approximately $9.8 million and $10.6 million for the nine months ended September 30, 2012 and 2011, respectively.
|September 30, 2012|
|Personal Defense & Aerosol Operations:||$4.9 million||50%|
|Wholesale Security Monitoring Operation:||$3.2 million||33%|
|Electronic Surveillance Equipment Operation:||$1.7 million||17%|
|September 30, 2011|
|Personal Defense & Aerosol Operations:||$3.7 million||35%|
|Wholesale Security Monitoring Operation:||$2.9 million||28%|
|Electronic Surveillance Equipment Operation*:||$3.0 million||28%|
|*Includes $1 million from high-end digital and machine vision cameras and professional imaging components operation (IVS) that was sold on October 21, 2011.|
Sales By Channel
|September 30, 2012||September 30, 2011||% Increase|
|Consumer||$1.5 million||$1.05 million||44|
|Sporting Goods||$2.1 million||
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