Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY

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CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($)
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Accumulated Other Comprehensive Loss [Member]
Treasury Stock [Member]
Balance at Dec. 31, 2013 $ 118,497 $ 0 $ 5,102 $ 251,628 $ 49,121 $ (187,354) $ 0
Balance (in shares) at Dec. 31, 2013   0 5,101,770        
Net loss (4,509,250) $ 0 $ 0 0 (4,509,250) 0 0
Foreign currency translation adjustment 120,337 0 0 0 0 120,337 0
Effect of valuation allowance against deferred tax asset related to foreign currency translation adjustment (141,945) 0 0 0 0 (141,945) 0
Issuance of stock, net of fees and expenses 16,284,568 $ 0 $ 4,080 16,280,488 0 0 0
Issuance of stock, net of fees and expenses (in shares)   0 4,080,000        
Shares issued on conversion of note 587,835 $ 0 $ 118 587,717 0 0 0
Shares issued on conversion of note (in shares)   0 117,567        
Shares issued to acquired businesses 1,601,677 $ 0 $ 412 1,601,265 0 0 0
Shares issued to acquired businesses (in shares)   0 412,267        
Stock-based compensation expense 258,878 $ 0 $ 0 258,878 0 0 0
Balance at Dec. 31, 2014 14,320,597 $ 0 $ 9,712 18,979,976 (4,460,129) (208,962) 0
Balance (in shares) at Dec. 31, 2014   0 9,711,604        
Net loss (4,687,378) $ 0 $ 0 0 (4,687,378) 0 0
Foreign currency translation adjustment $ (190,017) 0 0 0 0 (190,017) 0
Effect of valuation allowance against deferred tax asset related to foreign currency translation adjustment            
Forfeiture of shares issued to acquired businesses $ (132,880) $ 0 $ (54) (132,826) 0 0 0
Forfeiture of shares issued to acquired businesses (in shares)   0 (53,797)        
Settlement of contingent shares 674,485 $ 0 $ 567 673,918 0 0 0
Settlement of contingent shares (in shares)   0 566,794        
Issuance of stock, net of fees and expenses 4,679,196 $ 232 $ 0 4,678,964 0 0 0
Issuance of stock, net of fees and expenses (in shares)   231,616 0        
Restricted share units vested 0 $ 0 $ 121 (121) 0 0 0
Restricted share units vested (in shares)   0 120,750        
Common stock warrants issued 104,000 $ 0 $ 0 104,000 0 0 0
Stock-based compensation expense 452,985 0 0 452,985 0 0 0
Purchase of common stock (122,031) 0 0 0 0 0 (122,031)
Preferred stock dividends (207,007) 0 0 (207,007) 0 0 0
Balance at Dec. 31, 2015 $ 14,891,950 $ 232 $ 10,346 $ 24,549,889 $ (9,147,507) $ (398,979) $ (122,031)
Balance (in shares) at Dec. 31, 2015   231,616 10,345,351