XML 17 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT - 3 months ended Mar. 31, 2016 - USD ($)
Common Stock [Member]
Additional paid in capital [Member]
Accumulated other comprehensive income [Member]
Accumulated deficit [Member]
Total
Balance at Dec. 31, 2015 $ 5,691 $ 22,309,742 $ 90,168 $ (29,376,515) $ (6,970,914)
Balance, shares at Dec. 31, 2015 5,690,097       5,690,097
Loss for the period of three months $ (1,226,764) $ (1,226,764)
Other comprehensive loss $ (21,976) $ (21,976)
Accrued stock dividend on Series B Preferred Stock [1] $ 122,820 $ (122,820)
Accrued cash dividend on Series A Preferred Stock [1] $ (4,700) $ (4,700)
Stock-based compensation $ 950 950
Balance at Mar. 31, 2016 $ 5,691 $ 22,433,512 $ 68,192 $ (30,730,799) $ (8,223,404)
Balance, shares at Mar. 31, 2016 5,690,097       5,690,097
[1] During the three month period ended March 31, 2016, the Company accrued a cash dividend in the amount of $4,700, in the aggregate, to be paid to holders of its Series A Preferred Stock and a stock dividend in the amount of $122,820, in the aggregate, representing the fair value of the shares of Common Stock to be issued to owners of Series B Preferred Stock, in lieu of cash dividends. The Company will pay such dividends, plus interest at a rate of 9% per annum, on or prior to June 30, 2016.