v3.5.0.2

2. Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

		Year Ended December 31,
		2014				2013
Stock options			2,561,994				–
Restricted stock grants			25,174,888				–
Warrants			63,284,020				–
Total dilutive securities			91,020,902				–

Restated financial statements

		As of June 30, 2014
		As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated
Accounts receivable		$	1,429,041			$	(16,729	)		$	–			$	1,412,312
Note receivable on asset sale - current			225,000				(225,000	)			–				–
Prepaid expenses and other current assets			2,337,033				(201,942	)			–				2,135,091
Total current assets			9,818,808				(443,671	)			–				9,375,137
Note receivable on asset sale - less current portion			675,000				(675,000	)			–				–
Property and equipment, net			407,803				38,450				–				446,253
Goodwill			16,421,922				2,945,047				640,204				20,007,173
Intangibles, net			11,427,926				(1,800,000	)			–				9,627,926
Total assets			39,834,263				64,826				640,204				40,539,293
Accounts payable			6,060,146				(253,827	)			–				5,806,319
Accrued expenses and other current liabilities			3,784,114				157,547				–				3,941,661
Total current liabilities			33,027,808				(96,280	)			–				32,931,528
Deferred tax liability			–				189,799				–				189,799
Total liabilities			46,315,363				93,519				–				46,408,882
Additional paid-in capital			22,887,977				–				640,204				23,528,181
Noncontrolling interest in Ronco Holdings, Inc.			(1,141,666	)			(28,693	)			–				(1,170,359	)
Total stockholders' deficit			(9,181,100	)			(28,693	)			640,204				(8,569,589	)
Total liabilities, redeemable preferred stock and stockholders' deficit		$	39,834,263			$	64,826			$	640,204			$	40,539,293
			As of September 30, 2014
			As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated
Total assets		$	15,741,463			$	–			$	–			$	15,741,463
Total current liabilities			39,956,821				–				–				39,956,821
Deferred tax liability			–				189,799				–				189,799
Total liabilities			53,319,458				189,799				–				53,509,257
Additional paid-in capital			22,972,201				–				640,204				23,612,405
Accumulative deficit			(44,164,324	)			(189,799	)			(640,204	)			(44,994,327	)
Noncontrolling interest in Ronco Holdings, Inc.			(19,139,054	)			–				–				(19,139,054	)
Total stockholders' deficit			(40,277,995	)			(189,799	)			–				(40,467,794	)
Total liabilities, redeemable preferred stock and stockholders' deficit		$	15,741,463			$	–			$	–			$	15,741,463

		Three Months Ended June 30, 2014																Six Months Ended June 30, 2014
		As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated				As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated
General and administrative expenses		$	2,993,567			$	21,265			$	–			$	3,014,832			$	4,536,731			$	28,693			$	–			$	4,565,424
Loss from operations			(3,557,926	)			(21,265	)			–				(3,579,191	)			(4,545,064	)			(28,693	)			–				(4,573,757	)
Loss before provision for income taxes			(3,195,916	)			(21,265	)			–				(3,217,181	)			(4,430,629	)			(28,693	)			–				(4,459,322	)
Net loss			(3,195,916	)			(21,265	)			–				(3,217,181	)			(4,430,629	)			(28,693	)			–				(4,459,322	)
Net loss attributable to noncontrolling interest in Ronco Holdings, Inc.			1,016,403				21,265				–				1,037,668				1,141,666				28,693				–				1,170,359
Net loss attributable to As Seen On TV, Inc.			(2,179,513	)			–				–				(2,179,513	)			(3,288,963	)			–				–				(3,288,963	)
Basic and diluted loss per share		$	0.00			$	0.00			$	0.00			$	0.00			$	0.01			$	0.00			$	0.00			$	0.01

		Three Months Ended September 30, 2014																Nine Months Ended September 30, 2014
		As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated				As Originally Filed				Fair Value Adjustments*				Correction of Error				As Restated
General and administrative expenses		$	3,765,144				–			$	–			$	3,765,144			$	8,341,287			$	–			$	–			$	8,341,287
Impairment loss on goodwill			19,177,171				189,799				640,204				20,007,174				19,177,171				189,799				640,204				20,007,174
Loss from operations			(25,582,972	)			(189,799	)			(640,204	)			(26,412,975	)			(32,151,012	)			(189,799	)			(640,204	)			(32,981,015	)
Loss before provision for income taxes			(31,104,303	)			(189,799	)			(640,204	)			(31,934,306	)			(35,611,748	)			(189,799	)			(640,204	)			(36,441,751	)
Net loss			(31,104,303	)			(189,799	)			(640,204	)			(31,934,306	)			(35,611,748	)			(189,799	)			(640,204	)			(36,441,751	)
Net loss attributable to noncontrolling interest in Ronco Holdings, Inc.			17,942,343				–				–				17,942,343				19,139,054				–				–				19,139,054
Net loss attributable to As Seen On TV, Inc.			(13,161,960	)			(189,799	)			(640,204	)			(13,991,963	)			(16,472,694	)			(189,799	)			(640,204	)			(17,302,697	)
Basic and diluted loss per share		$	(0.02	)		$	0.00			$	0.00			$	(0.02	)		$	(0.04	)		$	0.00			$	0.00			$	(0.04	)

*Subsequent changes to the value of assets acquired in connection with the reverse merger and VIE acquisition

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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