Restatement Of Consolidated Financial Statements

3 Months Ended

Mar. 31, 2013

Organization, Consolidation And Presentation Of Financial Statements [Abstract]

Restatement Of Consolidated Financial Statements

NOTE 1: RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS

On May 10, 2013, the Audit Committee of the Board of Directors of Warwick Valley Telephone Company, which is currently doing business as Alteva ("Alteva" or the "Company"), in consultation with management, determined that the Company's Consolidated Statements of Cash Flows in the consolidated financial statements for the fiscal years ended December 31, 2011 and 2012, and the Condensed Consolidated Statements of Cash Flows for the fiscal quarters ended June 30, 2011, September 30, 2011, March 31, 2012, June 30, 2012 and September 30, 2012, should be restated for an error in the classification of distributions from an equity investment. Specifically, the Company previously presented distributions in excess of income from equity investments as cash flows from operating activities and is now presenting these distributions as cash flows from investing activities.

Effects of the restatement

The following table provides a summary of the selected line items on the Company's Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2012 affected by this restatement. This restatement had no impact on the reported net increase (decrease) in cash and cash equivalents during the applicable period. Likewise, this restatement had no impact on the Consolidated Balance Sheet as of December 31, 2012 and the Condensed Consolidated Statement of Operations and Statement of Comprehensive Income (Loss) for the three months ended March 31, 2012.

		Three Months
		Ended
		March 31, 2012
		($ in thousands)
Net cash provided by operating activities, as reported	$	349
Adjustments		(1,826	)
Restated net cash used in operating activities	$	(1,477	)
Net cash used in investing activities, as reported	$	(476	)
Adjustments		1,826
Restated net cash provided by investing activities	$	1,350