Note 9 - Prepaid Expenses and Other Receivables

3 Months Ended

Mar. 31, 2016

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 9 - Prepaid Expenses and Other Receivables

Other current assets consisted of the following at March 31, 2016 and December 31, 2015:

	March 31, 2016		December 31, 2015

Prepaid expenses	$	429,298	$	526,016
Other receivables		577,129		654,436
Total	$	1,006,427	$	1,180,452

At March 31, 2016, other receivables mainly represented government grant receivable of approximately $77,000, VAT recoverable of approximately $435,000, a deposit paid to PayPal of approximately $14,000 and others of approximately $51,000. At December 31, 2015, other receivables mainly represented VAT recoverable of approximately $485,000, government grant receivable of approximately $77,000, a deposit paid to PayPal of approximately $20,000 and amounts due from employees of approximately $28,000.

At March 31, 2016, prepaid expenses included prepayments of marketing expense of approximately $169,000, consulting fees of approximately $191,000, insurance expenses of approximately $34,000 and other prepaid expenses of approximately $35,000. At December 31, 2015, prepaid expenses included prepayments for marketing expense of approximately $338,900, consulting fees of approximately $47,800, insurance expenses of approximately $102,600, and other prepaid expenses of approximately $36,700.