Annual report pursuant to Section 13 and 15(d)

RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Tables)

v2.4.1.9
RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
The impact of the restatement on the consolidated balance sheet, statement of operations, changes in stockholders’ equity, and cash flows, as of and for the period ended December 31, 2014, is presented below.
 
 
 
As of December 31, 2014
 
 
 
As Previously Reported
 
Adjustment
 
As Restated
 
Consolidated Balance Sheet Data:
 
 
 
 
 
 
 
 
 
 
Derivative liability
 
$
1,128,499
 
$
4,048,416
 
$
5,176,915
 
Total current liabilities
 
 
2,184,590
 
 
4,048,416
 
 
6,233,006
 
Total liabilities
 
 
2,673,567
 
 
4,048,416
 
 
6,721,983
 
Additional paid-in capital
 
 
69,911,836
 
 
(4,102,709)
 
 
65,809,127
 
Accumulated deficit
 
 
(59,165,963)
 
 
54,293
 
 
(59,111,670)
 
Total stockholders’ equity
 
 
10,745,949
 
 
(4,048,416)
 
 
6,697,533
 
 
 
 
Year Ended December 31, 2014
 
 
 
As Previously Reported
 
Adjustment
 
As Restated
 
Consolidated Statement of Operations Data:
 
 
 
 
 
 
 
 
 
 
Gain on revaluation of derivative warrants
 
$
2,230,864
 
$
54,293
 
$
2,285,157
 
Total other income, net
 
 
1,784,550
 
 
54,293
 
 
1,838,843
 
Net loss
 
 
(8,106,395)
 
 
54,293
 
 
(8,052,102)
 
Basic and diluted net loss per common share
 
 
(1.77)
 
 
0.01
 
 
(1.75)
 
 
 
 
Year Ended December 31, 2014
 
 
 
As Previously Reported
 
Adjustment
 
As Restated
 
Consolidated Statement of Cash Flows Data:
 
 
 
 
 
 
 
 
 
 
Net loss
 
 
(8,106,395)
 
 
54,293
 
 
(8,052,102)
 
Gain on revaluation of derivative warrants
 
 
(2,230,864)
 
 
(54,293)
 
 
(2,285,157)