76,085,946LIABILITIES AND SHAREHOLDERS' EQUITYLiabilities: Accounts payable$
561,031 Accrued liabilities2,357,1951,752,598 Short-term debt--195,816 Current portion of long-term debt22,768,781480,201 Current liabilities from discontinued operations2,015,2777,890,407Total current liabilities28,083,27310,880,053 Long-term debt, net of current portion436,85022,215,875 Liabilities from discontinued operations--23,694,319Total liabilities28,520,12356,790,247Equity: Graymark Healthcare shareholders' equity:Preferred stock $0.0001 par value, 10,000,000authorized; no shares issued and outstanding----Common stock $0.0001 par value, 500,000,000 shares authorized;28,953,611 and 28,989,145 issued and outstanding, respectively2,895 2,899 Paid-in capital29,519,38729,086,750Accumulated deficit(29,218,977)(9,869,471)Total Graymark Healthcare shareholders' equity303,30519,220,178 Non-controlling interest(130,876)75,521Total equity172,42919,295,699Total liabilities and shareholders' equity$
76,085,946GRAYMARK HEALTHCARE, INC.Consolidated Statements of OperationsFor the Years Ended December 31, 2010 and 200920102009Net Revenues:Services
13,529,092Product sales5,557,4554,042,44722,764,08917,571,539Cost of Services and Sales:Cost of services 5,515,3803,806,582Cost of sales1,628,6861,716,3507,144,0665,522,932Gross Margin15,620,02312,048,607Operating Expenses:Selling, general and administrative17,277,32213,593,655Bad debt expense 1,763,7363,768,699Impairment of goodwill and intangible assets10,751,997--Impairment of property and equipment 762,224--Depreciation and amortization1,337,9901,074,13231,893,26918,436,486Other (Expense):Interest expense, net(1,223,334)(906,870)Other expense(10,061)(45,854)Impairment of equity investment(200,000)--Net other (expense)(1,433,395)(952,724)Income (loss) fr
|SOURCE Graymark Healthcare Inc.|
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