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 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Net revenues $ 1,414,211 $ 41,362 $ 3,312,476 $ 4,067,562
Operating expenses:        
Direct costs of revenue 309,347 305,157 849,632 1,128,060
General and administrative 5,169,478 6,497,718 12,978,349 17,142,263
Sales and marketing expenses 170,028 415,976 620,560 1,441,322
Bad debt 477,249 3,666,707 1,051,590 3,667,992
Depreciation and amortization 451,597 680,579 1,508,042 2,037,910
Total operating expenses 6,577,699 11,566,137 17,008,173 25,417,547
Loss from continuing operations before other income (expense) and income taxes (5,163,488) (11,524,775) (13,695,697) (21,349,985)
Other income (expense):        
Other income 40,455 127,008 91,212 227,020
Change in fair value of derivative instruments 1,827,112 (42,702,815) 6,553,772
Gain (loss) on extinguishment of debt 42,702,815
Loss on legal settlement (17,654)
Interest expense (5,331,681) (1,651,629) (16,510,525) (4,700,664)
Total other income (expense), net (5,291,226) 302,491 (16,419,313) 2,062,474
Net loss from continuing operations before income taxes (10,454,714) (11,222,284) (30,115,010) (19,287,511)
Provision for income taxes 372 3,622
Net loss from continuing operations (10,455,086) (11,222,284) (30,118,632) (19,287,511)
Net loss from discontinued operations (370,151) (787,155) (1,053,471) (2,828,030)
Net loss (10,825,237) (12,009,439) (31,172,103) (22,115,541)
Deemed dividend from trigger of down round provision feature (2,280,280) (53,341,619)
Net loss to common shareholders $ (13,105,517) $ (12,009,439) $ (84,513,722) $ (22,115,541)
Net loss per common share:        
Basic and diluted: continuing operations $ (10.59) $ (122.24) $ (112.12) $ (368.16)
Basic and diluted: discontinued operations (0.31) (8.57) (1.54) (53.98)
Total Basic and diluted $ (10.90) $ (130.81) $ (123.66) $ (422.14)
Weighted average number of common shares outstanding during the period:        
Basic and diluted 1,202,299 91,808 683,411 52,389