$MULN
MULLEN AUTOMOTIVE INC.

2013 Q2 Form 10-Q Financial Statement

#000114420413046912 Filed on August 19, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $5.608M $37.82K
YoY Change 14727.88%
Cost Of Revenue $4.134M $100.2K
YoY Change 4027.6%
Gross Profit $1.474M -$62.34K
YoY Change -2464.05%
Gross Profit Margin 26.28% -164.83%
Selling, General & Admin $9.280M $1.030M
YoY Change 800.97% 2475.0%
% of Gross Profit 629.73%
Research & Development $73.97K
YoY Change
% of Gross Profit
Depreciation & Amortization $617.0K $119.7K
YoY Change 415.52%
% of Gross Profit 41.87%
Operating Expenses $25.23M $2.663M
YoY Change 847.36% 6558.05%
Operating Profit -$19.62M -$2.625M
YoY Change 647.42% 6488.37%
Interest Expense $872.5K $71.73K
YoY Change 1116.39% 258.64%
% of Operating Profit
Other Income/Expense, Net -$3.941K $0.00
YoY Change
Pretax Income -$20.55M -$2.697M
YoY Change 661.88% 13385.64%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.23M -$2.573M
YoY Change 686.23% 11081.78%
Net Earnings / Revenue -360.79% -6804.33%
Basic Earnings Per Share
Diluted Earnings Per Share -$15.98K -$1.625K
COMMON SHARES
Basic Shares Outstanding 28.14M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.000M $0.00
YoY Change -100.0%
Cash & Equivalents $2.012M $1.534M
Short-Term Investments
Other Short-Term Assets $500.0K $46.20M
YoY Change -98.92% -0.22%
Inventory
Prepaid Expenses $24.76K
Receivables $8.221M
Other Receivables $200.0K
Total Short-Term Assets $10.96M $46.20M
YoY Change -76.27% -0.43%
LONG-TERM ASSETS
Property, Plant & Equipment $270.4K
YoY Change
Goodwill $17.00M
YoY Change
Intangibles $5.417M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $12.90M $4.822K
YoY Change 267405.58%
TOTAL ASSETS
Total Short-Term Assets $10.96M $46.20M
Total Long-Term Assets $12.90M $4.822K
Total Assets $23.86M $46.20M
YoY Change -48.36% -0.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.488M $224.4K
YoY Change 1008.66% 124.42%
Accrued Expenses $3.616M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.568M $0.00
YoY Change
Long-Term Debt Due -$1.656M
YoY Change
Total Short-Term Liabilities $10.42M $900.0K
YoY Change 1057.79% 800.0%
LONG-TERM LIABILITIES
Long-Term Debt $20.41M $0.00
YoY Change
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $20.41M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.42M $900.0K
Total Long-Term Liabilities $20.41M $0.00
Total Liabilities $31.03M $905.7K
YoY Change 3326.12% 805.68%
SHAREHOLDERS EQUITY
Retained Earnings -$110.3M
YoY Change
Common Stock $105.4M $345.00
YoY Change 30544488.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.200M $22.26M
YoY Change
Total Liabilities & Shareholders Equity $23.86M $46.20M
YoY Change -48.36% -0.42%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$20.23M -$2.573M
YoY Change 686.23% 11081.78%
Depreciation, Depletion And Amortization $617.0K $119.7K
YoY Change 415.52%
Cash From Operating Activities $3.160M -$1.580M
YoY Change -300.0% 3850.0%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $130.0K
YoY Change -84.62%
Acquisitions
YoY Change
Other Investing Activities -$590.0K $0.00
YoY Change
Cash From Investing Activities -$610.0K -$130.0K
YoY Change 369.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.390M 2.620M
YoY Change -191.22%
NET CHANGE
Cash From Operating Activities 3.160M -1.580M
Cash From Investing Activities -610.0K -130.0K
Cash From Financing Activities -2.390M 2.620M
Net Change In Cash 160.0K 910.0K
YoY Change -82.42% -2375.0%
FREE CASH FLOW
Cash From Operating Activities $3.160M -$1.580M
Capital Expenditures $20.00K $130.0K
Free Cash Flow $3.140M -$1.710M
YoY Change -283.63%

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21240000 USD
nete Non Cash Or Part Non Cash Acquisition Non Cash Financial Or Equity Instrument Consideration Value Restricted Shares Issued1
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718750 USD
nete Non Cash Or Part Non Cash Acquisition Non Cash Financial Or Equity Instrument Consideration Value Restricted Shares Issued1
NonCashOrPartNonCashAcquisitionNonCashFinancialOrEquityInstrumentConsiderationValueRestrictedSharesIssued1
0 USD
us-gaap Proceeds From Notes Payable
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2000000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
200000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
CY2013Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1646590 USD
CY2012Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
315000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8938900 shares
us-gaap Use Of Estimates
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Use of Estimates</b></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> 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 disclosures of contingent assets and liabilities as of the balance sheet date and the reported amounts of expenses for the period presented. Actual results could differ from those estimates.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT: 10pt Times New Roman, Times, Serif">Significant estimates include (i) the valuation of acquired merchant portfolios (ii) the recoverability of long-lived assets, (iii) the remaining useful lives of long-lived assets, and (iv) the sufficiency of merchant, legal, and other reserves. On an ongoing basis, the Company evaluates the sufficiency and accuracy of its estimates. Actual results could differ from those estimates.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>Concentrations</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company&#8217;s total revenue was $<font style=" FONT-SIZE: 10pt">6,490,234</font> for the six months ended June 30, 2013. Of this, $<font style=" FONT-SIZE: 10pt">4,601,830</font> was derived from processing of Visa&#174;, MasterCard&#174;, Discover&#174; and American Express&#174; card transactions and $<font style=" FONT-SIZE: 10pt">1,873,399</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;was derived from processing of</font> mobile electronic payments.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The credit card processing revenues of $4,601,830 was derived from merchant customer transactions, which are processed primarily by three &#8220;third-party&#8221; processors. For the six months ended June 30, 2013, the Company processed <font style=" FONT-SIZE: 10pt">16</font>% of its total revenue with Cynergy Data, <font style=" FONT-SIZE: 10pt">32</font>% with National Processing Company (NPC) and <font style=" FONT-SIZE: 10pt"> 20</font>% with First Data.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The mobile electronic payment revenues of $1,873,399&#160; are derived from merchant customer transactions, which are processed primarily by two mobile operators. For the six months ended June 30, 2013, the Company processed <font style=" FONT-SIZE: 10pt"> 14</font>% of its total revenue with Beeline <font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">(OJSC Vimpelcom)</font>, and <font style=" FONT-SIZE: 10pt">13</font>% with MTS&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style=" FONT-SIZE: 10pt">&#160;</font> (Mobile TeleSystems OJSC)</font>.</div> </div>
CY2013Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
191890 USD
nete Terminals Acquired Amount Net
TerminalsAcquiredAmountNet
221241 USD
nete Terminals Acquired Amount Net Held With Merchants
TerminalsAcquiredAmountNetHeldWithMerchants
6124 USD
us-gaap Temporary Equity Contract Terms
TemporaryEquityContractTerms
(i) non-convertible to common equity; (ii) non-participating; (iii) non-voting; (iv) liquidation preference to the common equity holders; and (v) 8% cumulative preferred return which accumulates on a daily basis and compounds annually.
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8938900 shares
CY2013Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
294868 USD
CY2012Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
294868 USD
CY2013Q2 nete Cash Fdic Insured Amount Cash Noninterest Bearing Transaction Accounts
CashFdicInsuredAmountCashNoninterestBearingTransactionAccounts
250000 USD
CY2013Q2 us-gaap Notes Payable
NotesPayable
22000000 USD
CY2013Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
11200000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <strong><font style="FONT-SIZE: 10pt"> Reclassification</font></strong><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Certain balances for the three months ended June 30, 2012 have been reclassified to conform to the June 30, 2013 presentation. See Note 18 for restatement of financial statements.</font></div> </div>
CY2013Q2 nete Working Capital Deficit
WorkingCapitalDeficit
500000 USD
CY2012Q4 nete Convertible Securities Exercise Price
ConvertibleSecuritiesExercisePrice
0.025
CY2012Q4 us-gaap Business Acquisition Share Price
BusinessAcquisitionSharePrice
0.25
CY2013Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.7 pure
CY2013Q2 nete Percentage Of Common Stock Issued And Outstanding
PercentageOfCommonStockIssuedAndOutstanding
0.1 pure
CY2012Q4 us-gaap Business Acquisition Description Of Acquired Entity
BusinessAcquisitionDescriptionOfAcquiredEntity
To the extent a holder of Net Element common stock would have received fewer than 100 shares of common stock of the Company in the Merger, such holder was issued an additional number of shares of common stock of the Company to bring such holders aggregate equity holdings in the Company to 100 shares of common stock. No fractional shares were issued in the Merger; instead, the Company issued one share of common stock to the holder of any shares of Net Element common stock that would have otherwise been entitled to receive a fraction of a share of common stock of the Company.
CY2012Q3 nete Notes Receivable Line Of Credit Maximum Lending Exposure
NotesReceivableLineOfCreditMaximumLendingExposure
200000000 RUB
CY2012Q3 nete Notes Receivable Line Of Credit Maximum Lending Exposure
NotesReceivableLineOfCreditMaximumLendingExposure
7000000 USD
CY2012Q3 nete Notes Receivable Interest Rate Fixed Percentage
NotesReceivableInterestRateFixedPercentage
0.1 pure
CY2012Q3 nete Notes Receivable Effective Interest Rate
NotesReceivableEffectiveInterestRate
0.4 pure
CY2012Q3 nete Notes Receivable Line Of Credit Maximum Lending Exposure
NotesReceivableLineOfCreditMaximumLendingExposure
300000000 RUB
CY2012Q3 nete Notes Receivable Line Of Credit Maximum Lending Exposure
NotesReceivableLineOfCreditMaximumLendingExposure
9800000 USD
CY2012Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1791475 USD
CY2012Q4 nete Financing Receivable Interest Rate Fixed Percentage
FinancingReceivableInterestRateFixedPercentage
0.0175 pure
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
648639 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
658249 USD
CY2012Q4 nete Financing Receivable Maturity Date
FinancingReceivableMaturityDate
2013-11-15
CY2012Q3 nete Notes Receivable Maturity Date
NotesReceivableMaturityDate
2012-10-31
CY2013Q1 nete Notes Receivable Maturity Date
NotesReceivableMaturityDate
2013-10-01
CY2013Q2 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
991475 USD
CY2013Q2 us-gaap Allowance For Notes And Loans Receivable Current
AllowanceForNotesAndLoansReceivableCurrent
1114302 USD
CY2012Q4 us-gaap Allowance For Notes And Loans Receivable Current
AllowanceForNotesAndLoansReceivableCurrent
891475 USD
CY2013Q2 us-gaap Notes Receivable Net
NotesReceivableNet
720000 USD
CY2012Q4 us-gaap Notes Receivable Net
NotesReceivableNet
6088934 USD
CY2013Q2 us-gaap Receivable With Imputed Interest Face Amount
ReceivableWithImputedInterestFaceAmount
3811023 USD
nete Receivable With Imputed Interest Term
ReceivableWithImputedInterestTerm
P48M
us-gaap Receivable With Imputed Interest Effective Yield Interest Rate
ReceivableWithImputedInterestEffectiveYieldInterestRate
0.21 pure
CY2013Q2 nete Receivable With Imputed Interest Present Value
ReceivableWithImputedInterestPresentValue
1834302 USD
CY2013Q2 nete Receivable With Imputed Interest Book Value
ReceivableWithImputedInterestBookValue
720000 USD
CY2013Q2 nete Provision For Doubtful Other Receivables
ProvisionForDoubtfulOtherReceivables
5800000 USD
nete Provision For Doubtful Other Receivables
ProvisionForDoubtfulOtherReceivables
1000000 USD
CY2013Q2 us-gaap Depreciation
Depreciation
41957 USD
CY2012Q2 us-gaap Depreciation
Depreciation
119678 USD
us-gaap Depreciation
Depreciation
84018 USD
us-gaap Depreciation
Depreciation
188341 USD
CY2013Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
378285 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
367232 USD
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 USD
us-gaap Finite Lived Intangible Assets Amortization Method
FiniteLivedIntangibleAssetsAmortizationMethod
straight-line basis
CY2013Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
4370000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
501817 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
212865 USD
CY2013Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0 USD
CY2013Q2 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
5786539 USD
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1009 USD
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
581379 USD
CY2013Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2013Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
211856 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5417015 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1488221 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
2728289 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
605728 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
116616 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
45663 USD
CY2013Q2 nete Future Amortization Expense For Next Five Years
FutureAmortizationExpenseForNextFiveYears
4984517 USD
CY2013Q2 us-gaap Debt Current
DebtCurrent
2600000 USD
CY2013Q2 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
CY2012Q4 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
1800000 USD
CY2012Q1 us-gaap Share Price
SharePrice
10.00
CY2012 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
2500000 USD
CY2012Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
6.00
CY2013Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
8938900 shares
CY2012 nete Class Of Warrant Or Right Exercises During Period
ClassOfWarrantOrRightExercisesDuringPeriod
1100 shares
CY2013Q2 nete Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
7.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P4Y6M4D
CY2013Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
805295 USD
CY2012Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
470382 USD
CY2013Q2 nete Accrued Advanced To Aggregators
AccruedAdvancedToAggregators
428017 USD
CY2013Q2 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
76238 USD
CY2012Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
221311 USD
CY2013Q2 us-gaap Interest Payable Current
InterestPayableCurrent
306987 USD
CY2012Q4 us-gaap Interest Payable Current
InterestPayableCurrent
39421 USD
CY2013Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1323441 USD
CY2012Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
52760 USD
CY2013Q2 us-gaap Deferred Revenue
DeferredRevenue
340262 USD
CY2013Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
335550 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
142092 USD
CY2012Q4 nete Accrued Advanced To Aggregators
AccruedAdvancedToAggregators
0 USD
CY2012Q4 us-gaap Deferred Revenue
DeferredRevenue
0 USD
CY2013Q2 us-gaap Long Term Debt
LongTermDebt
22066554 USD
CY2013Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
-1656086 USD
CY2013Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20410468 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1656086 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2424567 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8246421 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
13268000 USD
CY2013Q2 nete Longterm Debt Maturities Repayments Of Principal Total
LongtermDebtMaturitiesRepaymentsOfPrincipalTotal
25595074 USD
CY2012Q2 us-gaap Share Price
SharePrice
13.60
CY2012Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1333333 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-411225 USD
CY2013Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
290696 USD
CY2013Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10900000 USD
CY2013Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-872481 USD
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3941 USD
CY2013Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
11200000 USD
CY2012Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-71727 USD
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
0 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
11200000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1123051 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-84481 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-144401 USD
CY2012Q2 us-gaap Business Development
BusinessDevelopment
278506 USD
us-gaap Business Development
BusinessDevelopment
464026 USD
CY2012Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2090909 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
5851418 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
73972 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
146648 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2697128 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-7293212 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2774 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
81943 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
391125 USD
nete Proceeds From Related Party
ProceedsFromRelatedParty
158955 USD

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