Restatement of Previously Issued Condensed Consolidated Financial Statements (Tables)
|
3 Months Ended |
6 Months Ended |
12 Months Ended |
Jun. 30, 2015 |
Jun. 30, 2014 |
Jun. 30, 2015 |
Jun. 30, 2014 |
Dec. 31, 2014 |
Schedule of Outstanding Warrants, Restatement [Table Text Block] |
|
|
Issued to Investors on July 28, 2010, entitling the holders to purchase
1,034,996
common shares in the Company at an exercise price of $9.00
per common share up to and including July 27, 2017
|
|
1,034,996
|
|
|
|
|
|
Issued to Investors on October 25, 2013, entitling the holders to purchase
1,250,000
common shares in the Company at an exercise price of $2.30
per common share up to and including April 24, 2021
|
|
1,117,178
|
|
|
|
|
|
Issued to Investors on November 17, 2014, entitling the holders to purchase
2,734,590
common shares in the Company at an exercise price of $2.31
per common share up to and including May 16, 2022
|
|
2,734,590
|
|
|
|
|
|
Total |
|
4,886,764
|
|
|
|
|
Schedule of Consolidated Statement of Operations, Restated [Table Text Block] |
|
|
Three Months Ended June 30, 2015
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Statement of Operations Data:
|
|
|
|
|
|
|
|
|
|
Warrant revaluation |
$ |
-
|
|
$ |
460,265
|
|
$ |
460,265
|
|
Income (loss) from operations before income taxes |
|
(1,481,621
|
) |
|
460,265
|
|
|
(1,021,356
|
) |
Net loss |
|
(1,481,621
|
) |
|
460,265
|
|
|
(1,021,356
|
) |
Net loss per share, basic and diluted |
$ |
(0.08
|
) |
$ |
0.02
|
|
$ |
(0.06
|
) |
|
|
|
Three Months Ended June 30, 2014
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Statement of Operations Data:
|
|
|
|
|
|
|
|
|
|
Warrant revaluation |
$ |
-
|
|
$ |
(96,029
|
) |
$ |
(96,029
|
) |
Loss from operations before income taxes |
|
(1,655,108
|
) |
|
(96,029
|
) |
|
(1,751,137
|
) |
Net loss |
|
(1,655,108
|
) |
|
(96,029
|
) |
|
(1,751,137
|
) |
Net loss per share, basic and diluted |
$ |
(0.11
|
) |
$ |
(0.01
|
) |
$ |
(0.12
|
) |
|
|
|
Six Months Ended June 30, 2015
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Statement of Operations Data:
|
|
|
|
|
|
|
|
|
|
Warrant revaluation |
$ |
-
|
|
$ |
1,658,251
|
|
$ |
1,658,251
|
|
Loss from operations before income taxes |
|
(2,560,593
|
) |
|
1,658,251
|
|
|
(902,342
|
) |
Net loss |
|
(2,560,593
|
) |
|
1,658,251
|
|
|
(902,342
|
) |
Net loss per share, basic and diluted |
$ |
(0.14
|
) |
$ |
0.09
|
|
$ |
(0.05
|
) |
|
|
|
Six Months Ended June 30, 2014
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Statement of Operations Data:
|
|
|
|
|
|
|
|
|
|
Warrant revaluation |
$ |
-
|
|
$ |
(2,070,359
|
) |
$ |
(2,070,359
|
) |
Loss from operations before income taxes |
|
(3,089,030
|
) |
|
(2,070,359
|
) |
|
(5,159,389
|
) |
Net loss |
|
(3,089,030
|
) |
|
(2,070,359
|
) |
|
(5,159,389
|
) |
Net loss per share, basic and diluted |
$ |
(0.21
|
) |
$ |
(0.13
|
) |
$ |
(0.34
|
) |
|
|
Schedule of Consolidated Balance Sheet, Restated [Table Text Block] |
|
|
|
|
|
|
|
|
As of June 30, 2015
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Balance Sheet Data:
|
|
|
|
|
|
|
|
|
|
Warrant liability |
$ |
-
|
|
$ |
2,975,061
|
|
$ |
2,975,061
|
|
Total liabilities |
|
452,571
|
|
|
2,975,061
|
|
|
3,427,632
|
|
Additional paid-in capital |
|
82,016,278
|
|
|
(10,474,875
|
) |
|
71,541,403
|
|
Accumulated deficit |
|
(78,455,447
|
) |
|
7,499,814
|
|
|
(70,955,633
|
) |
Total stockholders’ equity |
$ |
3,578,914
|
|
$ |
(2,975,061
|
) |
$ |
603,853
|
|
|
|
|
|
As of December 31, 2014
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Balance Sheet Data:
|
|
|
|
|
|
|
|
|
|
Warrant liability |
$ |
-
|
|
|
4,633,312
|
|
$ |
4,633,312
|
|
Total liabilities |
|
653,669
|
|
|
4,633,312
|
|
|
5,286,981
|
|
Additional paid-in capital |
|
81,276,339
|
|
|
(10,474,875
|
) |
|
70,801,464
|
|
Accumulated deficit |
|
(75,894,854
|
) |
|
5,841,563
|
|
|
(70,053,291
|
) |
Total stockholders’ equity |
$ |
5,399,568
|
|
|
(4,633,312
|
) |
$ |
766,256
|
|
|
Schedule of Consolidated Cash Flows, Restated [Table Text Block] |
|
|
|
|
Six Months Ended June 30, 2015
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Cash Flows Data:
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(2,560,593
|
) |
$ |
1,658,251
|
|
$ |
(902,342
|
) |
Warrant revaluation |
$ |
-
|
|
$ |
(1,658,251
|
) |
$ |
(1,658,251
|
) |
|
|
|
Six Months Ended June 30, 2014
|
|
|
|
As Previously
|
|
|
|
|
|
|
|
|
|
Reported
|
|
|
Adjustment
|
|
|
As Restated
|
|
Consolidated Cash Flows Data:
|
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(3,089,030
|
) |
$ |
(2,070,359
|
) |
$ |
(5,159,389
|
) |
Warrant revaluation |
$ |
-
|
|
$ |
2,070,359
|
|
$ |
2,070,359
|
|
|
|