Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenues $ 14,932,506 [1] $ 13,120,229 $ 50,922,478 [1] $ 24,210,545 [1]
Operating cost and expenses:        
Cost of services 17,181,673 [1],[2] 14,874,958 59,194,660 [1],[2] 29,935,216 [1],[2]
Selling, general, and administrative expenses 4,081,031 2,785,138 10,774,498 6,796,512
Depreciation and amortization expense 6,073,723 1,936,324 16,768,305 4,700,835
Impairment of fixed assets 19,665,000 23,350,445
Total operating costs and expenses 47,001,427 19,596,420 110,087,908 41,432,563
Operating loss (32,068,921) (6,476,191) (59,165,430) (17,222,018)
Other income (expense):        
Interest expense (556,302) (60,566) (1,505,014) (1,767,181)
Interest forgiven 634,477
Foreign currency loss (183,252) (64,190) (1,233,158) (64,173)
Other income (expense) (2,390,221) (39,116) (2,748,446) (31,286)
Total other expense (3,129,775) (163,872) (5,486,618) (1,228,163)
Net loss before income taxes (35,198,696) (6,640,063) (64,652,048) (18,450,181)
Benefit (provision) for income taxes 16,375 633,259
Net loss $ (35,198,696) $ (6,640,063) $ (64,635,673) $ (17,816,922)
Basic and diluted loss per share $ (0.47) $ (0.10) $ (0.86) $ (0.30)
Weighted average number of common shares outstanding - basic and diluted 74,880,072 66,579,514 74,778,657 58,692,699
[1] U.S. activity began in February 2017 with start-up expenses being incurred. The Company began recognizing U.S. revenue in late May 2017. Intersegment transactions included in revenues were not significant for any of the periods presented.
[2] Gross margin is defined as revenues less costs of services. Cost of services excludes selling, general and administrative expenses, and depreciation and amortization expense.