XML 15 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]        
Revenues $ 2,185,959 $ 2,301,881 $ 5,322,665 $ 5,738,531
Cost of Revenue 280,110 319,121 734,179 851,939
Gross Margin 1,905,849 $ 1,982,760 4,588,486 $ 4,886,592
Operating Expenses        
Direct operating costs 93,924 317,741
Selling expenses 106,860 $ (21,578) 313,956 $ 189,142
Rent 199,123 194,883 605,907 608,566
Professional fees 17,362 134,784 475,812 473,416
Management services - related parties 120,331 121,592 362,578 488,998
Salary and wages 390,799 410,179 992,307 1,091,674
Consulting fees $ 575,662 $ 403,202 $ 1,644,460 1,373,508
Acquisition professional costs 1,376,124
General and administrative expenses $ 858,334 $ 718,594 $ 2,723,194 2,135,416
Total operating expenses 2,362,395 1,961,656 7,435,955 7,736,844
Loss from operations $ (456,546) 21,104 $ (2,847,469) (2,850,252)
Other (income) expense        
Settlement costs of potential claim 2,600,080 2,600,080
Interest expense $ 28,874 35,226 $ 120,965 96,486
Other (income) expense, net 28,874 2,635,306 120,965 2,696,566
Loss before income tax provision (485,420) (2,614,202) (2,968,434) (5,546,818)
Income tax provison 82,544 127,588 180,353 222,855
Net income (loss)        
Net income (loss) before non-controlling interest (567,964) (2,741,790) (3,148,787) (5,769,673)
Net income (loss) attributable to non-controlling interest 190,497 219,863 266,786 (467,376)
Net income (loss) attributable to Loton Corp. stockholders (758,461) (2,961,653) (3,415,573) (5,302,297)
Other comprehensive income (loss)        
FX translation gain (loss) (4,638) (24,413) 2,607 (31,163)
FX translation gain (loss) attributable to non-controlling interest (2,319) (12,207) 1,303 (15,582)
Other comprehensive income (loss) attributable to Loton Corp stockholders (2,319) (12,206) 1,304 (15,581)
Comprehensive income (loss) $ (760,780) $ (2,973,859) $ (3,414,269) $ (5,317,878)
Earnings Per Share:        
- basic and diluted $ (0.01) $ (0.07) $ (0.07) $ (0.15)
Weighted average common shares outstanding:        
- basic and diluted 45,923,473 39,525,521 45,298,731 38,615,044