v3.5.0.2

Restatement | 6 Months Ended
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Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract] |
Restatement |
NOTE 17 | RESTATEMENT
The Company has restated its results for the three and six months ended June 30, 2015, to correct erroneously capitalized share-based payments to our former CFO and CEO related to the business combination between Bitzio Inc., Lexi Luu Designs and E-motion Apparel (see Note 18, Acquisitions, below), and combine common stock to be issued in the amount of $158,564 into additional paid in capital. The table below summarizes the impact of the restatement described above on financial information previously reported on the Company’s Form 10-Q for the period ended June 30, 2015:
|  | Original |  |  | Adjustments |  |  | As Restated |
Balance Sheet At 6/30/15: |  |  |  |  |  |  |  |  |
Prepaid Expense |  | $ | 335,909 |  |  | $ | (303,791 | ) |  | $ | 32,118 |
Total current assets |  |  | 566,474 |  |  |  | (303,791 | ) |  |  | 262,683 |
Total assets |  |  | 1,234,508 |  |  |  | (303,791 | ) |  |  | 930,717 |
Additional paid in capital |  |  | 17,028,310 |  |  |  | (145,227 | ) |  |  | 16,883,083 |
Stock to be issued |  |  | 158,564 |  |  |  | (158,564 | ) |  |  | - |
Total Bitzio, Inc. stockholders’ deficit |  |  | (3,090,427 | ) |  |  | (303,791 | ) |  |  | (3,235,654 | )
Total stockholders’ deficit |  |  | (3,106,646 | ) |  |  | (303,791 | ) |  |  | (3,251,873 | )
Total Liabilities and Stockholders’ Deficit |  |  | 1,234,508 |  |  |  | (303,791 | ) |  |  | 1,089,281 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 6.G.2.b(b)(1)) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e31034-122693 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22595-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 + Details
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