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Restated Financial Statements For The Period (Tables)
9 Months Ended
Sep. 30, 2012
Restated Financial Statements For The Period  
Restated Financial Statements For The Period

The following tables highlight the significant areas of change:

 

 

 

Three Months Ended September 30, 2011

 

 

 

As Previously

 

 

 

 

 

 

 

 

 

Reported

 

 

Restated

 

 

 

 

 

 

September 30,2011

 

 

September 30, 2011

 

 

Change

 

Total Assets

 

$

7,777,050

 

 

$

7,777,050

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

$

(2,964,209

)

 

$

(8,222,286

)

 

$

(5,258,077

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' Equity

 

$

(4,812,841

)

 

$

(445,236

)

 

$

5,258,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

(1,066,016

)

 

$

(337,837

)

 

$

728,179

 

Income (Loss) available to common stockholders

 

$

(1,066,016

)

 

$

(337,837

)

 

$

728,179

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Loss per Share

 

$

(0.02

)

 

$

(0.01

)

 

$

0.01

 

 

 

 

Nine Months Ended September 30, 2011

 

 

 

As Previously

 

 

 

 

 

 

 

 

 

Reported

 

 

Restated

 

 

 

 

 

 

September 30,2011

 

 

September 30, 2011

 

 

Change

 

Total Assets

 

$

7,777,050

 

 

$

7,777,050

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

$

(2,964,209

)

 

$

(8,222,286

)

 

$

(5,258,077

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' Equity

 

$

(4,812,841

)

 

$

(445236

)

 

$

5,258,077

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$

(7,008,903

)

 

$

(7,588,460

)

 

$

(579,557

)

Income (Loss) available to common stockholders

 

$

(7,008,903

)

 

$

(7,588,460

)

 

$

(579,557

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Loss per Share

 

$

(0.13

)

 

$

(0.14

)

 

$

(0.01

)