Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net revenues $ 898,730 $ 2,565,272 $ 1,898,265 $ 4,026,200
Operating expenses:        
Direct costs of revenue 248,750 355,569 540,285 822,903
General and administrative 3,660,458 5,351,555 7,808,871 10,644,545
Sales and marketing expenses 197,727 433,329 450,532 1,025,346
Bad debt 577,252 574,341 1,285
Depreciation and amortization 471,954 678,141 1,056,445 1,357,331
Total operating expenses 5,156,141 6,818,594 10,430,474 13,851,410
Loss from continuing operations before other income (expense) and income taxes (4,257,411) (4,253,322) (8,532,209) (9,825,210)
Other income (expense):        
Other income 50,757 2 50,757 100,012
Change in fair value of derivative instruments 1,293,072 (42,702,815) 4,726,660
Gain on extinguishment of debt 42,702,815
(Loss) gain on legal settlement (17,652) (17,652)
Interest expense (6,135,982) (2,042,002) (11,178,844) (3,049,037)
Total other income (expense), net (6,085,225) (766,580) (11,128,087) 1,759,983
Net loss from continuing operations before income taxes (10,342,636) (5,019,902) (19,660,296) (8,065,227)
(Benefit) provision for income taxes 3,250
Net loss from continuing operations (10,342,636) (5,019,902) (19,663,546) (8,065,227)
Net loss from discontinued operations (335,573) (842,189) (683,320) (2,040,875)
Net loss (10,678,209) (5,862,091) (20,346,866) (10,106,102)
Deemed dividend from trigger of down round provision feature (3,508,587) (51,061,339)
Net loss to common shareholders $ (14,186,796) $ (5,862,091) $ (71,408,205) $ (10,106,102)
Net loss per common share:        
Basic and diluted: continuing operations $ (1.83) $ (10.19) $ (11.34) $ (16.40)
Basic and diluted: discontinued operations (0.04) (1.71) (0.11) (4.15)
Total Basic and diluted $ (1.87) $ (11.90) $ (11.45) $ (20.55)
Weighted average number of common shares outstanding during the period:        
Basic and diluted 7,594,314 492,568 6,236,404 491,776