Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 211,896 $ 132,229
Restricted cash 66,510 66,510
Prepayment on acquisition 0 3,744,517
Prepaid expenses and other 930,685 247,298
Total current assets 1,209,091 4,190,554
Property and equipment, net 49,389 62,021
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 81,060 129,306
Total assets 13,866,047 16,908,388
Current liabilities:    
Accounts payable 2,172,323 1,788,521
Accrued expenses 1,488,929 1,487,046
Hybrid debt instrument, net 1,135,175 3,652,749
Other current liabilities 19,924 19,098
Loans due to related parties 152,529 395,000
Total current liabilities 4,968,880 7,342,414
Deferred tax liability 2,918,518 2,918,518
Other liabilities 24,733 38,791
Total liabilities 7,912,131 10,299,723
Stockholders' equity:    
Series A convertible preferred stock, $0.001 par value, 1,000,000 shares authorized, 970,000 and 0 shares issued and outstanding, with a liquidation preference of $4 and $0 as of September 30, 2016 and December 31, 2015, respectively 970 0
Common stock, $0.001 par value; 45,454,546 shares authorized as of September 30, 2016 and December 31, 2015; 8,612,529 and 4,909,685 shares issued as of September 30, 2016 and December 31, 2015, respectively; 8,288,644 and 4,585,800 shares outstanding as of September 30, 2016 and December 31, 2015, respectively 8,612 4,909
Additional paid in capital 152,865,472 99,763,101
Accumulated deficit (141,946,676) (88,131,899)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 5,953,916 6,608,665
Total liabilities and stockholders' equity $ 13,866,047 $ 16,908,388