Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

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CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)
Total
Common Stock [Member]
Additional paid-in capital [Member]
Retained earnings (Accumulated deficit) [Member]
Accumulated other comprehensive loss [Member]
Balance at Dec. 31, 2013 $ 118,497 $ 5,102 $ 251,628 $ 49,121 $ (187,354)
Balance (in shares) at Dec. 31, 2013   5,101,770      
Net loss (3,938,712) 0 0 (3,938,712) 0
Foreign currency translation adjustment 52,733 [1] 0 0 0 52,733
Reversal of deferred tax asset related to foreign currency translation adjustment (141,945)       (141,945)
Issuance of common stock, net of fees and expenses of issuance 16,284,568 4,080 16,280,488 0 0
Issuance of common stock, net of fees and expenses of issuance (in shares)   4,080,000      
Shares issued on conversion of note 587,835 118 587,717 0 0
Shares issued on conversion of note (in shares)   117,567      
Shares issued to acquired businesses 6,220,185 1,700 6,218,485 0 0
Shares issued to acquired businesses (in shares)   1,699,796      
Stock-based compensation expense 137,550 0 137,550 0 0
Balance at Sep. 30, 2014 $ 19,320,711 $ 11,000 $ 23,475,868 $ (3,889,591) $ (276,566)
Balance (in shares) at Sep. 30, 2014   10,999,133      
[1] Net of taxes of $47,345 and $80,939 for the three and nine months ended September 30, 2013, respectively. No tax effect has been recorded in 2014 as the Company recorded a valuation allowance on its foreign currency translation adjustment of $81,657 and $141,945 for the three and nine months ended September 30, 2014.