Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
Dec. 31, 2014
Dec. 31, 2013
Current assets:    
Cash $ 2,507,401us-gaap_Cash $ 4,839,486us-gaap_Cash
Restricted cash 66,000us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 66,000us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue
Other receivables 115,775us-gaap_AccountsAndOtherReceivablesNetCurrent 256,015us-gaap_AccountsAndOtherReceivablesNetCurrent
Prepaid expenses and other 88,237us-gaap_PrepaidExpenseAndOtherAssetsCurrent 168,308us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 2,777,413us-gaap_AssetsCurrent 5,329,809us-gaap_AssetsCurrent
Property and equipment, net 119,449us-gaap_PropertyPlantAndEquipmentNet 152,603us-gaap_PropertyPlantAndEquipmentNet
Goodwill 3,465,157us-gaap_Goodwill 3,665,199us-gaap_Goodwill
Indefinite-lived intangible assets 9,754,857us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill 10,318,001us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill
Other assets 199,270us-gaap_OtherAssetsNoncurrent 0us-gaap_OtherAssetsNoncurrent
Total assets 16,316,146us-gaap_Assets 19,465,612us-gaap_Assets
Current liabilities:    
Accounts payable 852,760us-gaap_AccountsPayableCurrent 942,156us-gaap_AccountsPayableCurrent
Accrued expenses 1,409,691us-gaap_AccruedLiabilitiesCurrent 1,826,867us-gaap_AccruedLiabilitiesCurrent
Accrued payroll taxes 0us-gaap_AccruedPayrollTaxesCurrent 84,599us-gaap_AccruedPayrollTaxesCurrent
Other current liabilities 41,472us-gaap_OtherLiabilitiesCurrent 55,266us-gaap_OtherLiabilitiesCurrent
Loans due to related parties 395,000us-gaap_DueToRelatedPartiesCurrent 681,124us-gaap_DueToRelatedPartiesCurrent
Total current liabilities 2,698,923us-gaap_LiabilitiesCurrent 3,590,012us-gaap_LiabilitiesCurrent
Deferred tax liability 3,080,097us-gaap_DeferredTaxLiabilitiesNoncurrent 3,257,910us-gaap_DeferredTaxLiabilitiesNoncurrent
Other liabilities 56,383us-gaap_OtherLiabilitiesNoncurrent 0us-gaap_OtherLiabilitiesNoncurrent
Total liabilities 5,835,403us-gaap_Liabilities 6,847,922us-gaap_Liabilities
Stockholders' equity:    
Common stock, $0.01 par value; 215,456,000 shares authorized as of December 31, 2014 and 2013; 149,985,476 and 130,575,516 shares issued as of December 31, 2014 and 2013, respectively; 139,297,282 and 119,887,322 shares outstanding as of December 31, 2014 and 2013, respectively 1,499,855us-gaap_CommonStockValue 1,305,755us-gaap_CommonStockValue
Additional paid in capital 89,310,820us-gaap_AdditionalPaidInCapital 73,999,860us-gaap_AdditionalPaidInCapital
Accumulated deficit (75,624,428)us-gaap_RetainedEarningsAccumulatedDeficit (58,306,999)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income 575,676us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 900,254us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Treasury stock (5,281,180)us-gaap_TreasuryStockValue (5,281,180)us-gaap_TreasuryStockValue
Total stockholders' equity 10,480,743us-gaap_StockholdersEquity 12,617,690us-gaap_StockholdersEquity
Total liabilities and stockholders' equity $ 16,316,146us-gaap_LiabilitiesAndStockholdersEquity $ 19,465,612us-gaap_LiabilitiesAndStockholdersEquity