Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current Assets    
Cash $ 1,329,736 $ 110,645
Accounts receivables, net 181,070 232,789
Accounts receivables - related parties, net 395,599 333,911
Advances and loans to registered representatives, net 280,528 189,612
Inventory 1,204,863 1,184,268
Prepaid expenses and other current assets, net 653,814 602,800
Total Current Assets 4,045,610 2,654,025
Property and equipment, net 3,926,989 4,454,969
Prepaid foreign taxes, net 283,626 360,015
Investment - related parties 109,347 127,202
Deposits 61,284 61,284
Total Assets 8,426,856 7,657,495
Current liabilities    
Accounts payable 340,938 585,095
Accrued expenses 1,813,221 1,869,808
Deferred revenue 1,415,355 $ 1,384,317
Loans payable 34,209
Convertible and non-convertible debt obligations 212,500 $ 287,500
Other liabilities 7,310 4,488
Total Current Liabilities 3,823,533 4,131,208
Accrued expenses, non-current portion 348,591 399,119
Total Liabilities $ 4,172,124 $ 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 March 31, 2016 and December 31, 2015
Common stock, par value $0.01 per share; 80,000,000 shares authorized; 40,438,377 and 38,879,333 shares issued and 40,433,966 and 38,874,922 shares outstanding as of March 31, 2016 and December 31, 2015, respectively $ 404,383 $ 388,793
Additional paid-in capital 73,447,109 69,933,147
Accumulated other comprehensive loss (9,996,997) (9,591,274)
Accumulated deficit (59,585,693) (57,589,428)
Treasury stock, at cost, 4,411 shares at March 31, 2016 and December 31, 2015 (14,070) (14,070)
Total Stockholders' Equity 4,254,732 3,127,168
Total Liabilities and Stockholders' Equity $ 8,426,856 $ 7,657,495