Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK NON-CONTROLLING INTERESTS AND STOCKHOLDERS' DEFICIT

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CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK NON-CONTROLLING INTERESTS AND STOCKHOLDERS' DEFICIT - USD ($)
Total
Noncontrolling Interest [Member]
Total Convertible Preferred Stock and Non-Controlling Interests [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Stockholders' Notes Receivable [Member]
Accumulated Other Comprehensive Loss [Member]
Accumulated Deficit [Member]
Series A Convertible Preferred Stock [Member]
Series B Convertible Preferred Stock [Member]
Series C Convertible Preferred Stock [Member]
Series D Convertible Preferred Stock [Member]
Balance at Dec. 31, 2013 $ (44,843,839) $ 6,556,215 $ 42,964,881 $ 1,844 $ 10,384,554 $ (195,000) $ 52,923 $ (55,088,160) $ 254,525 $ 6,926,180 $ 5,745,127 $ 23,482,834
Balance (in shares) at Dec. 31, 2013       184,474         2,483,692 8,073,508 3,351,156 19,557,392
Cancellation of shareholder note receivable 136,176   0     136,176            
Stock-based compensation 26,815   0   26,815              
Loss on modification and extinguishment of 2013 Notes payable due to related party treated as an equity transaction (668,000)   0   (668,000)              
Gain on troubled debt restructuring of 2012 Notes payable due from related parties treated as an equity transaction 200,918   0   200,918              
Exercise of common stock options 6,500     $ 23 6,477              
Exercise of common stock options (in shares)       2,277                
Issuance of shares as settlement of a liability 105,000     $ 151 104,849              
Issuance of shares as settlement of a liability (in shares)       15,036                
Translation adjustment 3,621 1,889 1,889       3,621          
Net income (loss) (1,773,992) 222,484 222,484         (1,773,992)        
Balance at Dec. 31, 2014 (46,806,801) 6,780,588 43,189,254 $ 2,018 10,055,613 (58,824) 56,544 (56,862,152) $ 254,525 $ 6,926,180 $ 5,745,127 $ 23,482,834
Balance (in shares) at Dec. 31, 2014       201,787         2,483,692 8,073,508 3,351,156 19,557,392
Stock-based compensation 780,293   0   780,293              
Issuance of common stock upon IPO 4,099,500   0 $ 6,833 4,092,667              
Issuance of common stock upon IPO (in shares)       683,250                
Issuance of common stock in secondary public offering 10,001,760     $ 11,765 9,989,995              
Issuance of common stock in secondary public offering (in shares)       1,176,470                
Expenses related to initial public offering (1,373,858)   0   (1,373,858)              
Expenses related to second public offering (1,254,338)       (1,254,338)              
Conversion of preferred stock to common stock at $6.00 per share ($0.01 par value), net of deemed dividend of $8,222,008 36,408,666   (36,408,666) $ 45,678 36,362,988       $ (254,525) $ (6,926,180) $ (5,745,127) $ (23,482,834)
Conversion of preferred stock to common stock at $6.00 per share ($0.01 par value), net of deemed dividend of $8,222,008 (in shares)       4,567,782         (2,483,692) (8,073,508) (3,351,156) (19,557,392)
Conversion of promissory notes to common stock at $4.20 per share 3,532,694   0 $ 8,660 3,524,034              
Conversion of promissory notes to common stock at $4.20 per share (in shares)       866,056                
Beneficial conversion feature on conversion of Notes upon the IPO 1,663,873   0   1,663,873              
Exercise of common stock options 26,826   0 $ 268 26,558              
Exercise of common stock options (in shares)       26,799                
Exercise of common warrants upon initial public offering     0 $ 97 (97)              
Exercise of common warrants upon initial public offering (in shares)       9,748                
Conversion of non-controlling interest to common stock 6,818,732 (6,818,732) (6,818,732)   6,818,732              
Reclassification of previously issued warrant liability to stockholders' equity 79,930   0   79,930              
Issuance of restricted stock 444,394     $ 1,254 443,140              
Issuance of restricted stock (in shares)       125,412                
Adjustment for fractional shares       (17)                
Translation adjustment 58,244 32,967 32,967       58,244          
Net income (loss) (16,615,157) 5,177 5,177         (8,393,149)        
Balance at Dec. 31, 2015 $ 6,086,766 $ 0 $ 0 $ 76,573 $ 71,209,530 $ (58,824) $ 114,788 $ (65,255,301) $ 0 $ 0 $ 0 $ 0
Balance (in shares) at Dec. 31, 2015       7,657,287         0 0 0 0