Restatement of Financial Statements (Tables)

12 Months Ended

Sep. 30, 2015

Restatement of Financial Statements [Abstract]

Effect of the Restatement on Consolidated Financial Statements

The effect of the restatement on the September 30, 2015 and 2014 consolidated financial statements is as follows:

	September 30, 2014 (As restated)
	As Previously
	Reported			Adjustment			As Restated
Income tax receivable	$	2,018,533		$	(2,018,533	)	$	-
Total assets	$	11,695,038		$	(2,018,533	)	$	9,676,505
Income tax payable	$	-		$	2,739,607		$	2,739,607
Total current liabilities	$	1,756,576		$	2,739,607		$	4,496,183
Total liabilities	$	2,065,190		$	2,739,607		$	4,804,797
Accumulated deficits	$	(90,848,380	)	$	(4,758,140	)	$	(95,606,520	)
Total shareholders’ equity	$	9,629,848		$	(4,758,140	)	$	4,871,708
Total liabilities and shareholders’ equity	$	11,695,038		$	(2,018,533	)	$	9,676,505

	September 30, 2015 (As restated)
	As Previously
	Reported			Adjustment			As Restated
Income tax payable	$	-		$	2,739,607		$	2,739,607
Total current liabilities	$	1,968,231		$	2,739,607		$	4,707,838
Total liabilities	$	1,971,105		$	2,739,607		$	4,710,712
Accumulated deficits	$	(99,498,316	)	$	(2,739,607	)	$	(102,237,923	)
Total shareholders’ equity	$	5,416,616		$	(2,739,607	)	$	2,677,009
Provision for income taxes	$	2,018,533		$	(2,018,533	)	$	-
Net loss	$	8,649,936		$	(2,018,533	)	$	6,631,403
Total other comprehensive loss	$	9,107,066		$	(2,018,533	)	$	7,088,533