|
As of December 31, 2012
|
||||||||||||||||
|
As Reported
|
Adjustments
|
Restated
|
||||||||||||||
|
Cash
|
$ | 659,204 | $ | - | $ | 659,204 | ||||||||||
|
Accounts receivable - trade
|
74,056 | - | 74,056 | |||||||||||||
|
Prepaid expenses and other
|
519,330 | a | (500,000 | ) | 19,330 | |||||||||||
|
Net property and equipment
|
2,189 | - | 2,189 | |||||||||||||
|
Available-for-sale investment - DecisionPoint Systems, Inc.
|
579,875 | b, c | (86,048 | ) | 493,827 | |||||||||||
|
Intangible assets, net of amortization
|
64,227 | 64,227 | ||||||||||||||
|
TOTAL ASSETS
|
$ | 1,898,881 | $ | (586,048 | ) | $ | 1,312,833 | |||||||||
|
Note Payable - Oklahoma Technology Commercialization Center- Current
|
$ | 90,000 | $ | - | $ | 90,000 | ||||||||||
|
Accounts payable - trade and accrued liabilities
|
84,062 | d | (1,836 | ) | 82,226 | |||||||||||
|
Unearned income
|
500,000 | a | (500,000 | ) | - | |||||||||||
|
TOTAL LONG-TERM DEBT, less current maturities
|
816,752 | d, e, k | (80,798 | ) | 735,954 | |||||||||||
|
TOTAL LIABILITIES
|
1,490,814 | (582,634 | ) | 908,180 | ||||||||||||
|
Common stock
|
1,798,320 | d | 23,318 | 1,821,638 | ||||||||||||
|
Additional paid-in capital
|
13,230,111 |
d, e, f, g, h, i, j, k
|
6,490,208 | 19,720,319 | ||||||||||||
|
Accumulated other comprehensive income
|
(170,125 | ) | c | (34,048 | ) | (204,173 | ) | |||||||||
|
Accumulated deficit
|
(14,450,239 | ) | (6,482,892 | ) | (20,933,131 | ) | ||||||||||
|
TOTAL STOCKHOLDER'S EQUITY
|
408,067 | (3,414 | ) | 404,653 | ||||||||||||
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ | 1,898,881 | $ | (586,048 | ) | $ | 1,312,833 | |||||||||
|
As of December 31, 2012
|
||||||||||||||||
|
As Reported
|
Adjustments
|
Restated
|
||||||||||||||
|
Net revenues
|
$ | 2,988,393 | l | $ | (554,648 | ) | $ | 2,433,745 | ||||||||
|
Cost of revenues
|
1,305,853 | l | (275,868 | ) | 1,029,985 | |||||||||||
|
Gross profit
|
1,682,540 | (278,780 | ) | 1,403,760 | ||||||||||||
|
General and administrative expense
|
3,025,071 |
d, f, g, h, i, j, l
|
(1,593,202 | ) | 1,431,869 | |||||||||||
|
Loss from operations
|
(1,342,531 | ) | 1,314,422 | (28,109 | ) | |||||||||||
|
Total other expense
|
(238,906 | ) | e, k | (5,787,444 | ) | (6,026,350 | ) | |||||||||
|
Net loss from continuing operations
|
(1,581,437 | ) | (4,473,022 | ) | (6,054,459 | ) | ||||||||||
|
DISCONTINUED OPERATIONS
|
(194,608 | ) | b, l | (2,009,870 | ) | (2,204,478 | ) | |||||||||
|
NET LOSS
|
(1,776,045 | ) | (6,482,892 | ) | (8,258,937 | ) | ||||||||||
|
OTHER COMPREHENSIVE INCOME
|
(170,125 | ) | c | (34,048 | ) | (204,173 | ) | |||||||||
|
COMPREHENSIVE LOSS
|
$ | (1,946,170 | ) | $ | (6,516,940 | ) | $ | (8,463,110 | ) | |||||||