XML 38 R24.htm IDEA: XBRL DOCUMENT
v3.3.1.900

RESTATEMENT (TABLES) | 12 Months Ended
--- | ---
Dec. 31, 2014
RESTATEMENT (TABLES): |
RESTATEMENT (TABLES) | The adjustments in connection with the restatement are as follows:
|  | As Previously |  |  |  |  |  | As |
Balance Sheet Amounts |  | Reported |  |  | Restatement |  |  | restated |
December 31, 2014 |  |  |  |  |  |  |  |  |
Accounts receivable, net of allowance |  | $ | 24,851,086 |  |  | $ | (10,997,342 | ) |  | $ | 13,853,744 |
Total current assets |  |  | 54,492,543 |  |  |  | (10,997,342 | ) |  |  | 43,495,201 |
Total assets |  |  | 132,081,828 |  |  |  | (10,997,342 | ) |  |  | 121,084,486 |
Deferred revenue |  |  | - |  |  |  | 2,516,383 |  |  |  | 2,516,383 |
Total liabilities |  |  | 25,827,983 |  |  |  | (2,516,383 | ) |  |  | 28,344,366 |
Retained earnings |  |  | 62,848,901 |  |  |  | 13,503,385 |  |  |  | 49,345,516 |
Accumulated other comprehensive income - foreign |  |  |  |  |  |  |  |  |  |  |  |
currency translation adjustment |  |  | 19,771,160 |  |  |  | 10,340 |  |  |  | 19,760,820 |
Total stockholders' equity |  |  | 106,253,845 |  |  |  | 13,513,725 |  |  |  | 92,740,120 |
Total liabilities and stockholders' equity |  | $ | 132,081,828 |  |  | $ | 10,997,342 |  |  | $ | 121,084,486 |
Statement of Operations and |  | As Previously |  |  |  |  |  |  | As |
Comprehensive Income Amounts |  | Reported |  |  | Restatement |  |  | restated |
For the year ended December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 24,927,707 |  |  | $ | (2,793,841 | ) |  | $ | 22,133,866 |
Gross profit |  |  | 5,462,001 |  |  |  | (2,793,841 | ) |  |  | 2,668,160 |
Bad debt expense |  |  | 20,643,045 |  |  |  | 10,709,534 |  |  |  | 31,352,579 |
Total operating expenses |  |  | 30,781,382 |  |  |  | 10,709,544 |  |  |  | 41,490,926 |
Loss from operations |  |  | (25,254,268 | ) |  |  | (13,503,385 | ) |  |  | (38,757,653 | )
Loss before income taxes |  |  | (25,970,333 | ) |  |  | (13,503,385 | ) |  |  | (39,473,718 | )
Income taxes |  |  | 77,042 |  |  |  | - |  |  |  | 77,042 |
Net loss |  |  | (26,047,375 | ) |  |  | (13,503,385 | ) |  |  | (39,550,760 | )
Other comprehensive income - foreign |  |  |  |  |  |  |  |  |  |  |  |
currency translation adjustment |  |  | (643,221 | ) |  |  | (10,340 | ) |  |  | (653,561 | )
Basic and diluted loss per share |  | $ | (0.60 | ) |  | $ | (0.31 | ) |  | $ | (0.91 | )
|  | As Previously |  |  |  |  |  |  | As |
Statement of Cash Flows Amounts |  | Reported |  |  | Restatement |  |  | restated |
For the year ended December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (26,047,375 | ) |  | $ | (13,503,385 | ) |  | $ | (39,550,760 | )
Bad debt expense |  |  | 20,643,035 |  |  |  | 10,709,544 |  |  |  | 31,352,579 |
Deferred revenue |  |  | - |  |  |  | 2,514,457 |  |  |  | 2,514,457 |
Trade accounts and other receivables |  | $ | (3,443,329 | ) |  | $ | 279,384 |  |  | $ | (3,163,945 | )

X
- References No definition available. + Details
Name: | fil_RestatementTablesAbstract
Namespace Prefix: | fil_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition RESTATEMENT (TABLES) + References No definition available. + Details
Name: | fil_RestatementTablesTextBlock
Namespace Prefix: | fil_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration