| Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
The impact of the restatement on the condensed consolidated balance sheet, statement of operations and cash flows, as of September 30, 2014, and for the three months and nine months ended September 30, 2014, is presented below.
|
|
| As of September 30, 2014 |
| |
|
| As Previously
Reported |
|
| Adjustment |
|
| As Restated |
| | Consolidated Balance Sheet Data:
|
|
| |
|
|
| |
|
|
| |
| | Derivative liability
|
| $
| 820,124 |
|
| $
| 3,272,971 |
|
| $
| 4,093,095 |
| | Total current liabilities
|
|
| 2,065,074 |
|
|
| 3,272,971 |
|
|
| 5,338,045 |
| | Total liabilities
|
|
| 2,570,167 |
|
|
| 3,272,971 |
|
|
| 5,843,138 |
| | Additional paid-in capital
|
|
| 69,744,261 |
|
|
| (4,102,709 | )
|
|
| 65,641,552 |
| | Accumulated deficit
|
|
| (56,594,533 | )
|
|
| 829,738 |
|
|
| (55,764,795 | )
| | Total stockholders’ equity
|
|
| 13,149,804 |
|
|
| (3,272,971 | )
|
|
| 9,876,833 |
|
|
|
| Three Months Ended September 30, 2014 |
| |
|
| As Previously
Reported |
|
| Adjustment |
|
| As Restated |
| | Consolidated Statement of Operations Data:
|
|
| |
|
|
| |
|
|
| |
| | Gain on revaluation of derivative warrants
|
| $
| 2,020,433 |
|
| $
| 829,738 |
|
| $
| 2,850,171 |
| | Total other income, net
|
|
| 1,767,375 |
|
|
| 829,738 |
|
|
| 2,597,113 |
| | Net income (loss)
|
|
| (505,716 | )
|
|
| 829,738 |
|
|
| 324,022 |
| | Basic and diluted net income (loss) per common share
|
|
| (0.10 | )
|
|
| 0.17 |
|
|
| 0.06 |
|
|
|
| Nine Months Ended September 30, 2014 |
| |
|
| As Previously
Reported |
|
| Adjustment |
|
| As Restated |
| | Consolidated Statement of Operations Data:
|
|
| |
|
|
| |
|
|
| |
| | Gain on revaluation of derivative warrants
|
| $
| 2,539,239 |
|
| $
| 829,738 |
|
| $
| 3,368,977 |
| | Total other income, net
|
|
| 2,102,967 |
|
|
| 829,738 |
|
|
| 2,932,705 |
| | Net income (loss)
|
|
| (5,534,965 | )
|
|
| 829,738 |
|
|
| (4,705,227 | )
| | Basic and diluted net income (loss) per common share
|
|
| (1.54 | )
|
|
| 0.23 |
|
|
| (1.31 | )
|
|
|
| Nine Months Ended September 30, 2014 |
| |
|
| As Previously
Reported |
|
| Adjustment |
|
| As Restated |
| | Consolidated Statement of Cash Flows Data:
|
|
| |
|
|
| |
|
|
| |
| | Net loss
|
|
| (5,534,965 | )
|
|
| 829,738 |
|
|
| (4,705,227 | )
| | Gain on revaluation of derivative warrants
|
|
| (2,539,239 | )
|
|
| (829,738 | )
|
|
| (3,368,977 | )
|
|