Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash $ 936,588us-gaap_Cash $ 2,507,401us-gaap_Cash
Restricted cash 66,000us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 66,000us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue
Other receivables 81,090us-gaap_AccountsAndOtherReceivablesNetCurrent 115,775us-gaap_AccountsAndOtherReceivablesNetCurrent
Prepaid expenses and other 87,697us-gaap_PrepaidExpenseAndOtherAssetsCurrent 88,237us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 1,171,375us-gaap_AssetsCurrent 2,777,413us-gaap_AssetsCurrent
Property and equipment, net 89,703us-gaap_PropertyPlantAndEquipmentNet 119,449us-gaap_PropertyPlantAndEquipmentNet
Goodwill 3,303,234us-gaap_Goodwill 3,465,157us-gaap_Goodwill
Indefinite-lived intangible assets 9,299,022us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill 9,754,857us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill
Other assets 178,141us-gaap_OtherAssetsNoncurrent 199,270us-gaap_OtherAssetsNoncurrent
Total assets 14,041,475us-gaap_Assets 16,316,146us-gaap_Assets
Current liabilities:    
Accounts payable 1,360,126us-gaap_AccountsPayableCurrent 852,760us-gaap_AccountsPayableCurrent
Accrued expenses 935,034us-gaap_AccruedLiabilitiesCurrent 1,409,691us-gaap_AccruedLiabilitiesCurrent
Other current liabilities 154,432us-gaap_OtherLiabilitiesCurrent 41,472us-gaap_OtherLiabilitiesCurrent
Loans due to related parties 395,000us-gaap_DueToRelatedPartiesCurrent 395,000us-gaap_DueToRelatedPartiesCurrent
Total current liabilities 2,844,592us-gaap_LiabilitiesCurrent 2,698,923us-gaap_LiabilitiesCurrent
Deferred tax liability 2,936,167us-gaap_DeferredTaxLiabilitiesNoncurrent 3,080,097us-gaap_DeferredTaxLiabilitiesNoncurrent
Other liabilities 52,153us-gaap_OtherLiabilitiesNoncurrent 56,383us-gaap_OtherLiabilitiesNoncurrent
Total liabilities 5,832,912us-gaap_Liabilities 5,835,403us-gaap_Liabilities
Stockholders' equity:    
Common stock, $0.01 par value; 215,456,000 shares authorized as of March 31, 2015 and December 31, 2014; 149,985,476 shares issued as of March 31, 2015 and December 31, 2014; 139,297,282 shares outstanding as of March 31, 2015 and December 31, 2014 1,499,855us-gaap_CommonStockValue 1,499,855us-gaap_CommonStockValue
Additional paid in capital 89,458,048us-gaap_AdditionalPaidInCapital 89,310,820us-gaap_AdditionalPaidInCapital
Accumulated deficit (78,055,657)us-gaap_RetainedEarningsAccumulatedDeficit (75,624,428)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income 587,497us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 575,676us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Treasury stock (5,281,180)us-gaap_TreasuryStockValue (5,281,180)us-gaap_TreasuryStockValue
Total stockholders' equity 8,208,563us-gaap_StockholdersEquity 10,480,743us-gaap_StockholdersEquity
Total liabilities and stockholders' equity $ 14,041,475us-gaap_LiabilitiesAndStockholdersEquity $ 16,316,146us-gaap_LiabilitiesAndStockholdersEquity