Innovaro, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported revenue of $1,883,610 compared to $4,667,562 a year ago. Loss from continuing operations before income taxes was $5,308,868 compared to $1,640,905 a year ago. Loss from continuing operations was $4,793,337 or $0.32 per basic and diluted share compared to $1,631,091 or $0.11 per basic and diluted share a year ago. Net loss attributable to company stockholders of $4,864,107 or $0.32 per basic and diluted share compared to $1,464,501 or $0.10 per basic and diluted share a year ago.

For six months, the company reported revenue of $2,705,447 compared to $7,838,298 a year ago. Loss from continuing operations before income taxes was $6,706,499 compared to $1,812,994 a year ago. Loss from continuing operations was $6,190,968 or $0.41 per basic and diluted share compared to $1,793,366 or $0.12 per basic and diluted share a year ago. Net loss attributable to company stockholders of $4,864,107 or $0.41 per basic and diluted share compared to $1,464,501 or $0.11 per basic and diluted share a year ago. Net cash used in operating activities of continuing operations of $73,864 compared to net cash flows from operating activities of continuing operations of $496,090 a year ago. Capital expenditure was $661 compared to $22,758 a year ago.

The company announced impairment loss of $4,756,898 for the second quarter ended June 30, 2012.