18. Restatement of financial statements (Tables)

9 Months Ended

Sep. 30, 2013

Accounting Changes and Error Corrections [Abstract]

Schedule of Restatement Impact on Balance Sheet

		Three Months Ended September 30, 2012
Consolidated Statement of Operations for Three Months Ended September 30, 2012		As Previously Reported			Restated			Net Adjustment
Loss from operations	$	(3,426,250	)	$	(3,426,250	)	$	–
Other (income)/expenses
Fair value of derivative liabilities in excess of proceeds		–			–			–
Adjustments to fair value of derivative securities		–			(2,022,790	)		(2,022,790	)
Other (income)/expenses		(133,770	)		(133,770	)		–
Interest expense		172,057			52,313			(119,744	)
Total other (income)/expenses		38,287			(2,104,247	)		(2,142,534	)
Net loss		(3,464,537	)		(1,322,003	)		2,142,534
Preferred dividends		–			119,744			119,744
Net loss atttributable to common shareholders	$	(3,464,537	)	$	(1,441,747	)	$	2,022,790
Basic and diluted loss attributable to common shareholders per share	$	(0.04	)	$	(0.02	)	$	0.02
Basic weighted average shares outstanding		89,748,496			89,748,496			–
Fully-diluted weighted average shares outstanding		89,748,496			117,915,163			28,166,667

The following table presents the effect of the restatement adjustment on the accompanying consolidated statement of operations for the nine months ended September 30, 2012:

		Nine Months Ended September 30, 2012
Consolidated Statement of Operations  for Nine Months Ended September 30, 2012		As Previously  Reported			Restated			Net Adjustment
Loss from operations	$	(8,221,091	)	$	(8,221,091	)	$	–
Other (income)/expenses
Fair value of derivative liabilities in excess of proceeds		–			–			–
Adjustments to fair value of derivative securities		–			13,845,208			13,845,208
Other (income)/expenses		626,926			626,926			–
Interest expense		469,848			104,431			(365,417	)
Total other (income)/expenses		1,096,774			14,576,565			13,479,791
Net loss		(9,317,865	)		(22,797,656	)		(13,479,791	)
Preferred dividends		–			365,417			365,417
Net loss attributable to common shareholders	$	(9,317,865	)	$	(23,163,073	)	$	(13,845,208	)
Basic and diluted loss attributable to common shareholders per share	$	(0.10	)	$	(0.26	)	$	(0.16	)
Basic weighted average shares outstanding		89,220,298			89,220,298			–
Fully-diluted weighted average shares outstanding		89,220,298			117,386,965			28,166,667