Quarterly report pursuant to Section 13 or 15(d)

Restated Financial Statements (Tables)

v2.4.0.8
Restated Financial Statements (Tables)
9 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
Summary of the Effect of the Restatement for Prior Year Statement of Operations

An analysis of the restated September 30, 2013 Statement of Operations is as follows.

 

    For the Three Months Ended   For the Nine Months Ended
    September 30, 2013   September 30, 2013
    As Reported   Adjustment   As Restated   As Reported   Adjustment   As Restated
Revenues   $ 364,924       —       $ 364,924     $ 968,992       —       $ 968,992  
Cost of revenues     130,690       —         130,690       312,312       —         312,312  
Gross Margin     234,234       —         234,234       656,680       —         656,680  
                                                 
Operating Expenses:                                                
   Labor and related expenses     85,140       —         85,140       248,793       —         248,793  
   Rent     55,006       —         55,006       163,321       —         163,321  
   Depreciation     28,953       —         28,953       54,199       —         54,199  
   Other general and administrative     61,667       —         61,667       244,697       —         244,697  
      Total Operating Expenses     230,766       —         230,766       711,010       —         711,010  
Net Operating Loss     3,468       —         3,468       (54,330 )     —         (54,330 )
                                                 
Other Income (Expense):                                                
   Interest income     107       —         107       475       —         475  
   Interest expense     (30,832 )     (116,335 )1     (147,167 )     (96,427 )     (291,796 )1     (388,223 )
   Unrealized gain (loss) on trading securities     (983,758 )     126,657 2     (857,101 )     1,023,002       (2,020,651 )2     (997,649 )
   Gain (loss) on sale of marketable securities     1,943,004       (1,475,185 )2     467,819       3,681,075       (2,716,958 )2     964,117  
Net Other Income (Expense)     928,521       (1,464,863 )     (536,342 )     4,608,125       (5,029,405 )     (421,280 )
Net Income (Loss)   $ 931,989       (1,464,863 )   $ (532,874 )   $ 4,553,795       (5,029,405 )   $ (475,610 )
                                                 
Other Comprehensive Income (Loss):                                                
  Unrealized gain (loss) on                                                
       available-for-sale securities     154,099       2,352,341 2     2,506,440       163,579       4,872,401 2     5,035,980  
Comprehensive Income   $ 1,086,088       887,478     $ 1,973,566     $ 4,717,374       (157,004 )   $ 4,560,370  
                                                 
Income Per Common Share:   $ 0.01       —       $ (0.00 )   $ 0.03       —       $ (0.00 )
Income Per Common Share, Diluted:   $ 0.01       —       $ (0.00 )   $ 0.03       —       $ (0.00 )
Weighted Average Common Shares:                                                
   Basic     136,627,710       —         136,627,710       136,627,710       —         136,627,710  
  Diluted     140,199,139       —         136,627,710       140,199,139       —         136,627,710