RESTATEMENT (TABLES)

12 Months Ended

Dec. 31, 2014

RESTATEMENT (TABLES):

RESTATEMENT (TABLES)

The adjustments in connection with the restatement are as follows:

	As Previously						As
Balance Sheet Amounts	Reported			Restatement			restated
December 31, 2014
Accounts receivable, net of allowance	$	24,851,086		$	(10,997,342	)	$	13,853,744
Total current assets		54,492,543			(10,997,342	)		43,495,201
Total assets		132,081,828			(10,997,342	)		121,084,486
Deferred revenue		-			2,516,383			2,516,383
Total liabilities		25,827,983			(2,516,383	)		28,344,366
Retained earnings		62,848,901			13,503,385			49,345,516
Accumulated other comprehensive income - foreign
currency translation adjustment		19,771,160			10,340			19,760,820
Total stockholders' equity		106,253,845			13,513,725			92,740,120
Total liabilities and stockholders' equity	$	132,081,828		$	10,997,342		$	121,084,486
Statement of Operations and	As Previously						As
Comprehensive Income Amounts	Reported			Restatement			restated
For the year ended December 31, 2014
Revenue	$	24,927,707		$	(2,793,841	)	$	22,133,866
Gross profit		5,462,001			(2,793,841	)		2,668,160
Bad debt expense		20,643,045			10,709,534			31,352,579
Total operating expenses		30,781,382			10,709,544			41,490,926
Loss from operations		(25,254,268	)		(13,503,385	)		(38,757,653	)
Loss before income taxes		(25,970,333	)		(13,503,385	)		(39,473,718	)
Income taxes		77,042			-			77,042
Net loss		(26,047,375	)		(13,503,385	)		(39,550,760	)
Other comprehensive income - foreign
currency translation adjustment		(643,221	)		(10,340	)		(653,561	)
Basic and diluted loss per share	$	(0.60	)	$	(0.31	)	$	(0.91	)
	As Previously						As
Statement of Cash Flows Amounts	Reported			Restatement			restated
For the year ended December 31, 2014
Net loss	$	(26,047,375	)	$	(13,503,385	)	$	(39,550,760	)
Bad debt expense		20,643,035			10,709,544			31,352,579
Deferred revenue		-			2,514,457			2,514,457
Trade accounts and other receivables	$	(3,443,329	)	$	279,384		$	(3,163,945	)