Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash $ 589,935 $ 110,645
Accounts receivables, net 185,269 232,789
Accounts receivables - related parties, net 504,578 333,911
Advances and loans to registered representatives, net 470,786 189,612
Inventory 1,182,668 1,184,268
Prepaid expenses and other current assets, net 518,813 602,800
Total Current Assets 3,452,049 2,654,025
Property and equipment, net 3,901,443 4,454,969
Prepaid foreign taxes, net 224,042 360,015
Investment - related parties 59,944 127,202
Deposits 61,284 61,284
Total Assets 7,698,762 7,657,495
Current Liabilities    
Accounts payable 401,228 585,095
Accrued expenses 1,767,209 1,869,808
Deferred revenue 1,653,217 1,384,317
Convertible and non-convertible debt obligations 187,500 287,500
Other liabilities 12,954 4,488
Total Current Liabilities 4,022,108 4,131,208
Accrued expenses, non-current portion 344,770 399,119
Total Liabilities 4,366,878 4,530,327
Stockholders' Equity    
Series A convertible preferred stock, par value $0.01 per share; 11,000,000 shares authorized; 902,670 shares available for issuance; 0 shares issued and outstanding at September 30, 2016 and December 31, 2015
Common stock, par value $0.01 per share; 80,000,000 shares authorized; 42,140,243 and 38,879,333 shares issued and 42,135,832 and 38,874,922 shares outstanding as of September 30, 2016 and December 31, 2015 421,402 388,793
Additional paid-in capital 78,221,255 69,933,147
Accumulated other comprehensive loss (10,269,639) (9,591,274)
Accumulated deficit (65,027,064) (57,589,428)
Treasury stock, at cost, 4,411 shares at September 30, 2016 and December 31, 2015 (14,070) (14,070)
Total Stockholders' Equity 3,331,884 3,127,168
Total Liabilities and Stockholders' Equity $ 7,698,762 $ 7,657,495