$LVO
LiveOne, Inc.

2014 Q3 Form 10-Q Financial Statement

#000161577414000070 Filed on August 19, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2014 Q1
Revenue $1.589M $1.847M $0.00
YoY Change 34.15% 13.41%
Cost Of Revenue $253.1K $279.7K
YoY Change 39.43% 10.8%
Gross Profit $1.336M $1.568M
YoY Change 33.19% 13.89%
Gross Profit Margin 84.07% 84.86%
Selling, General & Admin $763.9K $863.6K
YoY Change 41.82% 35.36%
% of Gross Profit 57.16% 55.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.00K $45.65K
YoY Change 13505.44% -4.55%
% of Gross Profit 2.99% 2.91%
Operating Expenses $2.114M $3.661M $854.7K
YoY Change 122.82% 223.44% 81.74%
Operating Profit -$778.1K -$2.093M -$854.7K
YoY Change -62.83% -955.91% 81.74%
Interest Expense $56.17K $5.088K $7.562K
YoY Change 66.67%
% of Operating Profit
Other Income/Expense, Net -$56.17K -$5.088K -$7.562K
YoY Change 66.67%
Pretax Income -$834.3K -$2.098M -$862.3K
YoY Change -60.24% -957.99% 81.59%
Income Tax $49.39K $45.88K $0.00
% Of Pretax Income
Net Earnings -$813.7K -$1.527M -$862.3K
YoY Change -3409.28% -1772.11% 81.59%
Net Earnings / Revenue -51.2% -82.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.03 -$0.06
COMMON SHARES
Basic Shares Outstanding 38.32M shares 8.895M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $660.0K $430.0K
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $120.0K $520.0K
YoY Change
Inventory $56.02K $57.68K $67.25K
Prepaid Expenses
Receivables $92.77K $138.0K $148.5K
Other Receivables $460.0K $510.0K
Total Short-Term Assets $1.388M $1.658M $1.550M
YoY Change 1814.13% 2415.47%
LONG-TERM ASSETS
Property, Plant & Equipment $1.098M $1.170M $1.163M
YoY Change 26098.4% 25980.94%
Goodwill
YoY Change
Intangibles $10.86K $11.60K $11.54K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.109M $1.182M $1.174M
YoY Change 26357.42% 26239.57%
TOTAL ASSETS
Total Short-Term Assets $1.388M $1.658M $1.550M
Total Long-Term Assets $1.109M $1.182M $1.174M
Total Assets $2.497M $2.839M $2.724M
YoY Change 3155.3% 3933.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.208M $1.369M $574.8K
YoY Change 1640.09% 1800.77%
Accrued Expenses $250.0K $51.08K $0.00
YoY Change 961.53% 193.42%
Deferred Revenue
YoY Change
Short-Term Debt $1.180M $1.950M
YoY Change
Long-Term Debt Due $650.0K
YoY Change
Total Short-Term Liabilities $3.750M $4.059M $1.180M
YoY Change 855.98%
LONG-TERM LIABILITIES
Long-Term Debt $1.380M $920.0K
YoY Change
Other Long-Term Liabilities $1.190M $1.270M
YoY Change
Total Long-Term Liabilities $2.569M $2.191M $1.267M
YoY Change 315.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.750M $4.059M $1.180M
Total Long-Term Liabilities $2.569M $2.191M $1.267M
Total Liabilities $6.319M $6.251M $2.448M
YoY Change 422.56% 556.31%
SHAREHOLDERS EQUITY
Retained Earnings -$2.181M -$1.367M $160.0K
YoY Change
Common Stock $150.0K $3.960M $3.216M
YoY Change -90.12% 184.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.270M -$2.936M $138.2K
YoY Change
Total Liabilities & Shareholders Equity $2.497M $2.839M $2.724M
YoY Change 3155.3% 3933.99%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2014 Q1
OPERATING ACTIVITIES
Net Income -$813.7K -$1.527M -$862.3K
YoY Change -3409.28% -1772.11% 81.59%
Depreciation, Depletion And Amortization $40.00K $45.65K
YoY Change 13505.44% -4.55%
Cash From Operating Activities -$110.0K -$1.370M
YoY Change -31.03%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $17.57K
YoY Change 261.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $90.00K
YoY Change
Cash From Investing Activities -$20.00K $70.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 440.0K 990.0K
YoY Change 158.74%
NET CHANGE
Cash From Operating Activities -110.0K -1.370M
Cash From Investing Activities -20.00K 70.00K
Cash From Financing Activities 440.0K 990.0K
Net Change In Cash 310.0K -310.0K
YoY Change 2834.22%
FREE CASH FLOW
Cash From Operating Activities -$110.0K -$1.370M
Capital Expenditures $20.00K $17.57K
Free Cash Flow -$130.0K -$1.388M
YoY Change -18.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-549920 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-986911 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2839162 USD
CY2014Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><u><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company&#8217;s critical accounting estimates and assumptions affecting the financial statements were:</font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify">&#160;</div> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(i)</div> </td> <td style="TEXT-ALIGN: justify"> <div><i>Allowance for doubtful accounts</i>: Management&#8217;s estimate of the allowance for doubtful accounts is based on historical sales, historical loss levels, and an analysis of the collectability of individual accounts; and general economic conditions that may affect a client&#8217;s ability to pay. The Company evaluated the key factors and assumptions used to develop the allowance in determining that it is reasonable in relation to the financial statements taken as a whole.</div> </td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(ii)</div> </td> <td style="TEXT-ALIGN: justify"> <div><i>Inventory Obsolescence and Markdowns</i>: The Company&#8217;s estimate of potentially excess and slow-moving inventories is based on evaluation of inventory levels and aging, review of inventory turns and historical sales experiences. The Company&#8217;s estimate of reserve for inventory shrinkage is based on the historical results of physical inventory cycle counts.</div> </td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(iii)</div> </td> <td style="TEXT-ALIGN: justify"> <div><i>Fair value of long-lived assets:</i> Fair value is generally determined using the asset&#8217;s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. The Company considers the following to be some examples of important indicators that may trigger an impairment review: (i)&#160;significant under-performance or losses of assets relative to expected historical or projected future operating results; (ii)&#160;significant changes in the manner or use of assets or in the Company&#8217;s overall strategy with respect to the manner or use of the acquired assets or changes in the Company&#8217;s overall business strategy; (iii)&#160;significant negative industry or economic trends; (iv)&#160;increased competitive pressures; (v)&#160;a significant decline in the Company&#8217;s stock price for a sustained period of time; and (vi)&#160;regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events;</div> </td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(iv)</div> </td> <td style="TEXT-ALIGN: justify"> <div><i>Valuation allowance for deferred tax assets:</i> Management assumes that the realization of the Company&#8217;s net deferred tax assets resulting from its net operating loss (&#8220;NOL&#8221;) carry&#150;forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors;</div> </td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div>(v)</div> </td> <td style="TEXT-ALIGN: justify"> <div><i>Estimates and assumptions used in valuation of equity instruments:</i> Management estimates expected term of share options and similar instruments, expected volatility of the Company&#8217;s common shares and the method used to estimate it, expected annual rate of quarterly dividends, and risk free rate(s) to value share options and similar instruments.</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q2 us-gaap Preferred Stock Value
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CY2014Q2 us-gaap Liabilities
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CY2014Q2 ltnr Description Of Nature Of Ownership Change
DescriptionOfNatureOfOwnershipChange
In general terms, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50 percentage points over a three-year period.
CY2014Q2 us-gaap Depreciation
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CY2014Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
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CY2011Q3 us-gaap Debt Instrument Maturity Date
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2014-09-22
CY2011Q3 ltnr Service Management Cost Description
ServiceManagementCostDescription
Under the Management Agreement the Company will compensate Trinad LLC for its services with (i) a fee equal to $2,080,000, with $90,000 payable in advance of each consecutive three-month calendar period during the term of the Agreement and with $1,000,000 due at the end of the three (3) year term unless the Management Agreement is otherwise terminated earlier in accordance with its terms
CY2011Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
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CY2011Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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244564 USD
CY2014Q2 us-gaap Operating Income Loss
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CY2011Q3 ltnr Management Services Payment Description
ManagementServicesPaymentDescription
The Company (i)(a) recorded $30,000 per month for the $1,080,000 portion of the management services to be paid on a quarterly basis, accrued (i)(b) $27,778 per month for the $1,000,000 portion of the management services, due at the end of the three (3) year term; and (ii) recorded amortization of $2,294 per month for the fair value of the warrant portion of the management services issued on September 23, 2011 in connection with the Management Agreement, or $60,072 of management services per month in aggregate.
CY2013Q2 us-gaap Revenues
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CY2014Q2 us-gaap Revenues
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CY2013Q2 ltnr Consulting Fees
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CY2014Q2 us-gaap Service Management Costs
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CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2013Q2 us-gaap Income Tax Expense Benefit
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CY2013Q2 us-gaap Net Income Loss
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CY2014Q2 us-gaap Net Income Loss
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CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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35488791 shares
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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19234 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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276417 USD
CY2014Q2 ltnr Stock Issued During Period Value Issued For Services One
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CY2014Q2 ltnr Stock Issued During Period Value Issued For Services Two
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28333 USD
CY2014Q2 ltnr Stock Issued During Period Value Issued For Services Three
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CY2014Q2 ltnr Stock Issued During Period Value Issued For Services Four
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CY2014 us-gaap Profit Loss
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CY2013Q2 us-gaap Profit Loss
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182634 USD
CY2013Q2 us-gaap Depreciation
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47830 USD
CY2013Q2 us-gaap Share Based Compensation
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0 USD
CY2014Q2 us-gaap Share Based Compensation
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190422 USD
CY2013Q2 us-gaap Increase Decrease In Prepaid Expense
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-80238 USD
CY2014Q2 us-gaap Increase Decrease In Prepaid Expense
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2014-06-30
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2015
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CY2014Q2 dei Entity Registrant Name
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LOTON, CORP
CY2014Q2 dei Current Fiscal Year End Date
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Smaller Reporting Company
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LTNR
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><i><u><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>Fiscal Year End</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">On June 30, 2014, in connection with the closing of the Merger, the Company changed its fiscal year-end date from April 30 to March 31.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2014Q1 us-gaap Prepaid Taxes
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CY2014Q2 ltnr Lease Term Description
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The lease term is equal to 75 percent or more of the estimated economic life of the leased property.
CY2014Q2 us-gaap Stock Issued During Period Value Acquisitions
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due
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CY2014Q1 us-gaap Operating Leases Future Minimum Payments Due
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CY2014Q2 us-gaap Prepaid Taxes
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CY2014Q1 us-gaap Prepaid Insurance
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CY2014Q2 us-gaap Prepaid Insurance
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CY2014Q1 us-gaap Other Prepaid Expense Current
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CY2014Q2 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
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On October 22, 2004, OCL entered into a deed of variation to the original non-cancellable lease for the premises with an annual rent of &#163;473,000 per year plus valued added taxes for the first five (5) years and and with an annual rent of&#160; &#163;548,337 per year plus valued added taxes for the remainder of the lease, with free rent for the first fifteen (15) months of the occupancy. In conjunction with the signing of the deed of variation the landlord (i) provided consideration of &#163;175,000, and (ii) contributed an additional &#163;175,000 towards improvements upon execution of the deed of variation.
CY2014Q2 us-gaap Occupancy Net
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350000 EUR
CY2014Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.15
CY2011Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2014Q2 us-gaap Foreign Currency Transactions Description
ForeignCurrencyTransactionsDescription
the rate presented below per U.S. $1.00 was the midpoint of the interbank rate as quoted by OANDA Corporation (www.oanda.com) contained in its consolidated financial statements.
CY2013Q2 us-gaap Interest Expense
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0 USD
CY2014Q2 us-gaap Interest Expense
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5088 USD
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0 USD
CY2014Q2 us-gaap Cash Acquired From Acquisition
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85608 USD
CY2014 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2014Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2014Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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4588 USD
CY2014Q1 us-gaap Commitments And Contingencies
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USD
CY2014Q2 us-gaap Commitments And Contingencies
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USD
CY2013Q2 us-gaap Business Combination Acquisition Related Costs
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0 USD
CY2014Q2 us-gaap Business Combination Acquisition Related Costs
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CY2013Q2 us-gaap Repayments Of Related Party Debt
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CY2014Q2 us-gaap Repayments Of Related Party Debt
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CY2014Q1 us-gaap Prepaid Rent
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CY2014Q2 us-gaap Other Prepaid Expense Current
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85126 USD
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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956250 shares
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
956250 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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0 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
1125000 shares
CY2014Q2 us-gaap Concentration Risk Credit Risk Financial Instruments
ConcentrationRiskCreditRiskFinancialInstruments
As of June 30, 2014, substantially all of the Company&#8217;s cash and cash equivalents were held by major financial institutions in the United Kingdom and the balance at certain accounts may exceed the maximum amount insured by the Financial Services Compensation Scheme (FSCS) (&#163;85,000 per account, per authorized institution as of December 31, 2010).

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