28 CEAPRO Annual Report 2012 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME See accompanying notes Years ended December 31 2012 2011 $ $ Revenue (note 12) 5,165,276 5,786,174 Cost of goods sold 2,716,605 2,538,347 Gross margin 2,448,671 3,247,827 Research and product development 856,191 996,719 General and administration 1,795,476 1,374,030 Sales and marketing 198,650 111,359 Finance costs (note 15) 112,900 180,808 (Loss) income from operations (514,546) 584,911 Other operating loss (note 14) (23,807) (7,338) Net (loss) income and comprehensive (loss) income for the year (538,353) 577,573 Net (loss) income per common share (note 24): Basic (0.01) 0.01 Diluted (0.01) 0.01 Weighted average number of common shares outstanding 60,278,948 56,561,513