18. Restatement of financial statements (Tables)

3 Months Ended

Mar. 31, 2013

Accounting Changes and Error Corrections [Abstract]

Schedule of Restatement Impact on Balance Sheet

		As of March 31, 2012
Consolidated Balance Sheet as of March 31, 2012		As Previously Reported			Restated			Net Adjustment
Derivative liability	$	–		$	13,841,450		$	13,841,450
Other current liabilities		5,768,527			5,768,527			–
Total current liabilities	$	5,768,527		$	19,609,977		$	13,841,450
Shareholder's deficit
Series D 10% Preferred Stock	$	19		$	19		$	–
Series E 5% Preferred Stock		9			9			–
Common stock		88,157			88,157			–
Additional paid-in capital		42,315,939			33,615,948			(8,699,991	)
Accumulated deficit		(44,541,282	)		(49,682,741	)		(5,141,459	)
Total Shareholder's deficit	$	(2,137,158	)	$	(15,978,608	)	$	(13,841,450	)

The flowing table presents the effect of the restatement adjustment on the accompanying consolidated statement of operations for the three months ended March 31, 2012:

		Three Months Ended March 31, 2012
		As
Consolidated Statement of Operations		Previously						Net
for Three Months Ended March 31, 2012		Reported			Restated			Adjustment
Loss from operations	$	2,352,168		$	2,352,168		$	–
Other (income)/expenses
Adjustments to fair value of derivative securities		–			(2,047,405	)		(2,047,405	)
Other (income)/expenses		–			–			–
Interest expense		126,573			2,405			(124,168	)
Total other (income)/expenses		126,573			(2,045,000	)		(2,171,573	)
Net loss		(2,478,742	)		(307,168	)		2,171,573
Preferred dividends		–			124,168			124,168
Net loss attributable to common shareholders	$	(2,478,742	)	$	(431,336	)	$	2,047,405
Basic and diluted loss attributable to common shareholders per share	$	(0.03	)	$	–		$	0.03
Basic weighted average shares outstanding		88,157,055			88,157,055			–
Fully-diluted weighted average shares outstanding		88,157,055			109,407,055			21,250,000