Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets    
Cash $ 584,218 $ 110,645
Accounts receivables, net 208,274 232,789
Accounts receivables - related parties, net 494,429 333,911
Advances and loans to registered representatives, net 339,849 189,612
Inventory 1,134,325 1,184,268
Prepaid expenses and other current assets, net 575,923 602,800
Total Current Assets 3,337,018 2,654,025
Property and equipment, net 3,952,284 4,454,969
Prepaid foreign taxes, net 291,230 360,015
Investment - related parties 87,248 127,202
Deposits 61,284 61,284
Total Assets 7,729,064 7,657,495
Current Liabilities    
Accounts payable 278,122 585,095
Accrued expenses 1,701,587 1,869,808
Deferred revenue 1,443,502 1,384,317
Convertible and non-convertible debt obligations 212,500 287,500
Other liabilities 10,132 4,488
Total Current Liabilities 3,645,843 4,131,208
Accrued expenses, non-current portion 332,645 399,119
Total Liabilities 3,978,488 4,530,327
Commitments and Contingencies
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 June 30, 2016 and December 31, 2015
Common stock, par value $0.01 per share; 80,000,000 shares authorized; 41,481,704 and 38,879,333 shares issued and 41,477,293 and 38,874,922 shares outstanding as of June 30, 2016 and December 31, 2015 414,817 388,793
Additional paid-in capital 76,356,930 69,933,147
Accumulated other comprehensive loss (10,126,739) (9,591,274)
Accumulated deficit (62,880,362) (57,589,428)
Treasury stock, at cost, 4,411 shares at June 30, 2016 and December 31, 2015 (14,070) (14,070)
Total Stockholders' Equity 3,750,576 3,127,168
Total Liabilities and Stockholders' Equity $ 7,729,064 $ 7,657,495