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Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2015
Apr. 14, 2016
Jun. 30, 2015
Document And Entity Information      
Entity Registrant Name DEBT RESOLVE INC    
Entity Central Index Key 0001106645    
Document Type 10-K/A    
Document Period End Date Dec. 31, 2015    
Amendment Flag true    
Amendment Description

This Amendment No. 1 on Form 10-K/A (this “Amendment”) amends the Annual Report of Debt Resolve, Inc. (the “Company”) on Form 10-K for the year ended December 31, 2015, as filed with the Securities and Exchange Commission on April 14, 2016 (the “Original Filing”). This Amendment is being filed for the purpose of restating the Company’s balance sheet to correct an accounting error in the classification of accounts receivable, as described in Note 17 to the financial statements. We have not updated the information contained herein for events occurring subsequent to April 14, 2016, the filing date of the Original Filing.

 

The following Items have been amended as a result of this restatement:

 

· Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations
· Part IV, Item 15, Exhibits and Financial Statement Schedules

 
During the preparation of its financial statements for the quarter ended September 30, 2016, the Company identified errors in the presentation of its accounts receivable reported as of December 31, 2015. Based on the Company’s reassessment of relevant accounting guidelines, it has corrected the error and characterized a portion of accounts receivable as a long term asset, rather than a current asset. The effect of these adjustments is a reclassification of $2,508,573 of reported accounts receivable as a long term asset. There was no change to any other asset or liability accounts. There was no effect on the Statements of Stockholders’ Deficiency, Operations or Cash Flows.

 

The following tables show the principal financial statement line items originally reported and restatement adjustments as of December 31, 2015:

 

    As Reported     Adjustments     As Restated  
                   
Accounts receivable, current   $ 3,463,161     $ (2,508,573 )   $ 954,588  
                         
Accounts receivable, long term     -       2,508,573       2,508,573  

 

The above accounts receivable is reported, net of an allowance for doubtful accounts of $600,000.

 

In connection with the restatement, the unaudited condensed consolidated financial statements for the three months ended March 31, 2016 and the three and six months ended June 30, 2016 and the related disclosures will be restated on Forms 10-Q/A for those respective periods.

    
Current Fiscal Year End Date --12-31    
Is Entity a Well-known Seasoned Issuer? No    
Is Entity a Voluntary Filer? No    
Is Entity's Reporting Status Current? Yes    
Entity Filer Category Smaller Reporting Company    
Entity Common Stock, Shares Outstanding   104,612,082  
Entity Public Float     $ 1,550,532
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2015