Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-14 |
Trading Symbol | 'alyi |
Entity Registrant Name | 'ALTERNET SYSTEMS INC |
Entity Central Index Key | '0001126003 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 98,233,064 |
Entity Current Reporting Status | 'Yes |
Entity Voluntary Filers | 'No |
Entity Well Known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Current Assets | ' | ' |
Cash | $6,235 | $0 |
Sale proceeds held in escrow | 667,264 | 0 |
Deposits and other assets | 2,000 | 21,785 |
Investment in digital currency | 122,671 | 0 |
Current assets of discontinued operations | 0 | 2,048,824 |
Total current assets | 798,170 | 2,070,609 |
Fixed assets, net | 0 | 2,733 |
TOTAL ASSETS | 798,170 | 2,073,342 |
Current liabilities | ' | ' |
Checks issued in excess of bank balance | 0 | 168 |
Accounts payable and accrued charges | 1,907,213 | 1,466,546 |
Wages payable | 770,101 | 1,672,273 |
Accrued payroll taxes | 171,427 | 1,671,353 |
Deferred gain on sale | 667,264 | 0 |
Other loans payable, net of beneficial conversion feature | 848,679 | 1,543,509 |
Due to related parties | 65,668 | 102,464 |
Current liabilities of discontinued operations | 0 | 783,145 |
Total current liabilities | 4,430,352 | 7,239,458 |
Long term debt | 0 | 312,667 |
TOTAL LIABILITIES | 4,430,352 | 7,552,125 |
Stockholders' equity (deficiency) | ' | ' |
Capital stock Authorized: 500,000,000 common stock with a par value of $0.00001 Issued and outstanding: 98,233,055 common shares (2013 - 95,737,389) | 982 | 957 |
Additional paid-in capital | 14,736,385 | 14,453,693 |
Private placement subscriptions | 630,362 | 130,362 |
Share subscription receivable | -375,000 | 0 |
Obligation to issue shares | 0 | 2,800 |
Deferred compensation | 0 | -113,125 |
Accumulated other comprehensive income | -331,411 | -331,332 |
Accumulated deficit | -18,293,500 | -17,939,881 |
Stockholders Equity, Including Portion Attributable to Noncontrolling Interest | -3,632,182 | -3,796,526 |
Non-controlling interest | 0 | -1,682,257 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY) | -3,632,182 | -5,478,783 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) | $798,170 | $2,073,342 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 98,233,055 | 95,737,389 |
Common Stock, Shares, Outstanding | 98,233,055 | 95,737,389 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
REVENUE | $0 | $1,501 | $0 | $3,142 |
OPERATING EXPENSES | ' | ' | ' | ' |
Bad debts | 0 | 5,875 | 0 | 7,646 |
Depreciation | 0 | 283 | 2,733 | 847 |
Investor relations | 11,745 | 32,441 | 97,680 | 91,696 |
Research and development | 0 | 0 | 500,000 | 0 |
Management and consulting | 174,800 | 22,103 | 645,125 | 548,626 |
Office and general | 32,536 | 10,468 | 122,347 | 35,004 |
Professional fees | 52,183 | 14,987 | 270,078 | 183,929 |
Rent | 6,784 | 8,038 | 20,772 | 26,086 |
Payroll (recovery), net | -62,521 | 325,092 | -206,060 | 513,075 |
Travel | 812 | 1,748 | 86,416 | 18,103 |
TOTAL OPERATING EXPENSES | 216,339 | 421,035 | 1,539,091 | 1,425,011 |
NET LOSS BEFORE OTHER ITEMS | -216,339 | -419,534 | -1,539,091 | -1,421,869 |
OTHER ITEMS | ' | ' | ' | ' |
Interest expense, net | -24,688 | -83,245 | -81,491 | -319,858 |
Gain on foreign exchange | 31,654 | 5,984 | 32,486 | 54,931 |
Unrealized loss on investment | -2,329 | 0 | -2,329 | 0 |
Forgiveness and adjustment of accounts payable | 0 | 18,425 | 0 | 18,425 |
TOTAL OTHER ITEMS | 4,637 | -58,836 | -51,334 | -246,502 |
NET LOSS FROM CONTINUING OPERATIONS | -211,702 | -478,370 | -1,590,425 | -1,668,371 |
NON-CONTROLLING INTEREST FROM CONTINUING OPERATIONS | 34,311 | -9,174 | 21,693 | -11,650 |
NET LOSS ATTRIBUTABLE TO ALTERNET SYSTEMS INC. FROM CONTINUING OPERATIONS | -246,013 | -469,196 | -1,612,118 | -1,656,721 |
DISCONTINUED OPERATIONS | 14,394 | -383,152 | 3,006,931 | -1,088,203 |
TOTAL NET AND COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ALTERNET SYSTEMS INC. | ($231,619) | ($852,348) | $1,394,813 | ($2,744,924) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
OPERATING ACTIVITIES | ' | ' |
Net income (loss) attributable to Alternet Systems Inc. | $1,394,813 | ($2,744,924) |
Non-controlling interest | 21,693 | -11,650 |
Add items not affecting cash | ' | ' |
Depreciation | 2,733 | 847 |
Interest accrued | 34,234 | 175,009 |
Bad debt expense | 0 | 7,646 |
Shares for services | 249,917 | 253,041 |
Unrealized loss on investments | 2,329 | 0 |
Accretion of debt discount | 0 | 143,590 |
Unrealized foreign exchange gain | -32,174 | -131,707 |
Deferred compensation | 143,125 | 65,625 |
Changes in non-cash working capital: | ' | ' |
Accounts receivable | 0 | 11,587 |
Deposits and other assets | 19,785 | 0 |
Accounts payable and accrued charges | 440,667 | 671,552 |
Wages payable | -786,380 | 814,619 |
Accrued taxes | -1,499,926 | 735,276 |
Due to related parties | -4,622 | 53,883 |
Net cash (used in) provided by operating activities | -13,806 | 44,394 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from loans payable | 400,000 | 363,000 |
Payments on loans payable | -1,129,064 | -54,338 |
Payments on long term debt | -312,667 | 0 |
Checks issued in excess of bank balance | -168 | -3,713 |
Share issue costs | 0 | -21,000 |
Net cash (used in) provided by financing activities | -1,041,899 | 283,949 |
EFFECT OF EXCHANGE RATES ON CASH | -79 | -23 |
CASH FLOWS FROM CONTINUING OPERATIONS | -1,055,783 | 328,320 |
CASH FLOWS FROM DISCONTINUED OPERATIONS | 1,062,019 | -327,228 |
NET INCREASE IN CASH DURING THE PERIOD | 6,235 | 1,092 |
CASH, BEGINNING OF PERIOD | 0 | 0 |
CASH, END OF PERIOD | $6,235 | $1,092 |
NATURE_OF_OPERATIONS_AND_BASIS
NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2014 | |
NATURE OF OPERATIONS AND BASIS OF PRESENTATION [Text Block] | ' |
NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION | |
Alternet Systems Inc., through its subsidiaries (“Alternet” or the “Company”), plans to enter the digital currency space and provide end to end security for digital currencies, launch its digital currency bank, fully compliant with government regulations, foreign exchange capabilities, offer micro payment services to the unbanked and global diasporas, and alternative financial services to the retail industry emerging markets. Previously, the Company provided leading edge mobile financial solutions and mobile security and related solutions with the former being offered throughout the Western Hemisphere, but most actively in Central and South America and the Caribbean, and the latter being offered globally. As detailed in Note 7, Discontinued Operations, the Company, pursuant to the ATS Transaction, discontinued providing mobile financial solutions and mobile security. | |
These condensed consolidated financial statements have been prepared on the basis of a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. At September 30, 2014 the Company had a working capital deficiency of $3,632,182. The Company’s continued operations are dependent on the successful implementation of its business plan, its ability to obtain additional financing as needed, continued support from creditors, settling its outstanding debts, and ultimately attaining profitable operations. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |
Sep. 30, 2014 | ||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | ' | |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Interim Financial Statements | ||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included. Results for interim periods should not be considered indicative of results for a full year. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the company’s Annual Report on Form 10-K/A for the year ended December 31, 2013, filed with SEC on June 17, 2014. The consolidated financial statements include the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained. | ||
Principles of Consolidation | ||
These condensed consolidated financial statements include the accounts of the following companies: | ||
Alternet Systems Inc. | ||
AI Systems Group, Inc., a wholly owned subsidiary of Alternet | ||
Tekvoice Communications, Inc., a wholly owned subsidiary of Alternet | ||
Alternet Transactions Systems, Inc. (“ATS”), a wholly owned subsidiary of Alternet (formerly a 51% owned subsidiary. See Note 7, Discontinued Operations) | ||
Utiba Guatemala, S.A., a wholly-owned subsidiary of Alternet Transactions Systems Inc. | ||
International Mobile Security (“IMS”), Inc, a wholly owned subsidiary of Alternet (formerly a 60% owned subsidiary) | ||
Megatecnica, S.A., a wholly owned subsidiary of International Mobile Security, Inc. | ||
OneMarket, Inc., a wholly owned subsidiary of Alternet | ||
Alternet Payment Solutions, LLC, a wholly owned subsidiary of Alternet. | ||
The minority interests of ATS, IMS, and ATS’s and IMS’s wholly owned subsidiaries have been deducted from earnings and equity. All significant intercompany transactions and account balances have been eliminated. | ||
Use of Estimates and Assumptions | ||
The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statement date and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, fair value of convertible notes payable and derivative liabilities. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected | ||
Revenue Recognition | ||
Up to March 4, 2014, the Company entered into sales arrangements that may have provided for multiple deliverables to a customer. Software sales may have included the sale of a software license, implementation/customization services, and/or ongoing support services. | ||
In order to treat deliverables in a multiple-deliverable arrangement as separate units of accounting, the deliverables must have standalone value upon delivery. If the deliverables have standalone value upon delivery, the Company accounts for each deliverable separately. Licenses, support fees, and hosted services have standalone value as such services are often sold separately. In determining whether implementation/customization services have standalone value, the Company considers the following factors for each agreement: availability of the services from other vendors, the nature of the services, the timing of when the services contract was signed in comparison to the services start date, and the contractual dependence of the customization service on the customer’s satisfaction with the implementation/customization services work. | ||
The Company concluded that all of the services included in multiple-deliverable arrangements executed had standalone values when multiple deliverables included in an arrangement are separated into different units of accounting. The arrangement consideration is allocated to the identified separate units based on a relative selling price hierarchy. The Company determines the relative selling price for a deliverable based on its vendor-specific objective evidence of selling price (“VSOE”), if available, or its best estimate of selling price (“BESP”), if VSOE is not available. The Company has determined that third-party evidence of selling price (“TPE”) is not a practical alternative due to differences in its service offerings compared to other parties and the availability of relevant third party pricing information. The amount of revenue allocated to delivered items is limited by contingent revenue, if any. | ||
The Company has not established VSOE for a majority of its revenue due to lack of pricing consistency, the customer specific requests, and other factors. Accordingly, the Company used its BESP to determine the relative selling price. | ||
The Company determined BESP by considering its overall pricing objectives and market conditions. Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the geographic area where services are sold, its market strategy, historic contractually stated prices and prior relationships, and future service sales with certain customers. The determination of BESP is made through consultation with and approval by the Company’s management, taking into consideration the market strategy. As the Company’s market strategies evolve, the Company may modify its pricing practices in the future, which could result in changes in selling prices. | ||
Revenue was recognized upon delivery or when services were performed, provided that persuasive evidence of a sales arrangement existed, both title and risk of loss passed to the customer, and collection was reasonably assured. Persuasive evidence of a sales arrangement existed upon execution of a written sales agreement or signed purchase order that constituted a fixed and legally binding commitment between the Company and the buyer. Specifically, revenue from the sale of licenses was recognized when the title of the license transferred to the customer while revenue from implementation/customization services performed was recognized upon successful completion of a User Acceptance Test (“UAT”). If a successful UAT was never achieved and the sales arrangement was cancelled, the Company recognized any deferred revenue not required to be refunded to the customer. | ||
The Company’s payment terms vary by client. To reduce credit risk in connection with software license and support sales, the Company may, depending upon the circumstances, require significant deposits prior to delivery. In some circumstances, the Company may require payment in full for its products prior to delivery. For support and hosted services, the Company sold customers service agreements that were recorded as deferred revenue and provided for payment in advance on either an annual or other periodic basis. Revenue for these support services was recognized ratable over the term of the agreement. | ||
Subsequent to March 4, 2014 the Company implemented the criteria outlined in SAB 104 and recognizes revenue when: | ||
- | persuasive evidence of an arrangement exists; | |
- | delivery has occurred or services have been rendered; | |
- | the seller’s price to the buyer is fixed or determinable; and | |
- | collectability is reasonably assured. | |
Research and Development | ||
The Company expenses costs when incurred for items associated with researching and developing new sources of revenue. | ||
Digital Currency Transactions | ||
The Company enters into transactions that are denominated in digital currency (Ven). These transactions result in digital currency denominated assets and liabilities that are revalued periodically. Upon revaluation, transaction gains and losses are generated and are reported as unrealized gains and losses in other gain (loss), net in the Condensed and Consolidated Statements of Operations. The Company determines fair value as of the balance sheet date based on Level I inputs which consist of quoted prices in active markets. The value of the Company’s digital currency is $122,671, net of $2,329 of unrealized losses, as of September 30, 2014. Due to the uncertainty regarding the current and future accounting treatment and tax, legal and regulatory requirements relating to digital currencies or transactions utilizing digital currencies, such accounting, legal, regulatory and tax developments or other requirements may adversely affect us. | ||
Long-Lived Assets Including Other Acquired Intellectual Property | ||
Management monitors the recoverability of long-lived assets and intangibles based on estimates using factors such as current market value, future asset utilization, and future undiscounted cash flows expected to result from its investment or use of the related assets. The Company’s policy is to record any impairment loss in the period when it the Company determines that the carrying amount of the asset may not be recoverable. Any impairment loss is calculated as the excess of the carrying value over estimated realizable value. The Company did not record any significant impairments on long-lived assets during the nine months ended September 30, 2014 and 2013. Intangible assets deemed to have an indefinite life are not amortized but are subject to impairment tests at each reporting date. The Company assesses the impairment of intangible assets on a quarterly basis or whenever events or changes in circumstances indicate that the fair value is less than its carrying value. If the carrying amount of the intangible asset exceeds its fair value, the intangible asset is considered impaired and the second step of the test is performed to determine the amount of impairment loss, if any. The Company did not recognize any impairment charges related to indefinite lived intangible assets during the nine months ended September 30, 2014 and 2013. | ||
Income (Loss) per Share | ||
The Company computes net income (loss) per share in accordance with ASC Topic 260, Earnings Per Share . Topic 260 requires presentation of both basic and diluted earnings per share (EPS). Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including warrants using the treasury stock method. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. | ||
At September 30, 2014 and December 31, 2013 the Company had no warrants or options outstanding to consider in the income (loss) per share calculations. | ||
Stock-Based Compensation | ||
The Company accounts for its share-based compensation plans in accordance with the fair value recognition provisions of ASC 718 Compensation-Stock Compensation . The Company utilizes the Black-Scholes option pricing model as its method for determining the fair value of stock option grants. ASC 718 requires the fair value of all share-based awards that are expected to vest to be recognized in the statements of operations over the service or vesting period of each award. The Company uses the straight-line method of attributing the value of share-based compensation expense for all stock option grants over the requisite service period. | ||
Reclassification | ||
Certain comparative figures have been reclassified in order to conform to the current year’s presentation. | ||
Recent Accounting Pronouncements | ||
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This ASU is to be applied prospectively for all disposals of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods beginning on or after December 15, 2015. Additionally, this ASU is to be applied to all business activated that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within annual periods beginning on or after December 15, 2015. ASU No 2014-08 addresses concerns about the accounting for discontinued operations and the disposal of small groups of assets that are recurring in nature but qualify as discontinued operations under subtopic 205-20 Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU is effective for annual reporting periods beginning after December 15, 2016. ASU No 2014-09 addresses concerns about weaknesses and inconsistencies in revenue recognition across entities, industries, jurisdictions, and capital markets. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This ASU is effective for annual reporting periods beginning after December 15, 2015. ASU No 2014-12 clarifies the diverse accounting treatments used by entities to account for awards based on performance targets achieved after the requisite period. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Topic 205): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern This ASU is effective for annual reporting periods ending after December 15, 2016. ASU No 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows. |
FIXED_ASSETS
FIXED ASSETS | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
FIXED ASSETS [Text Block] | ' | |||||||||
NOTE 3 – FIXED ASSETS | ||||||||||
30-Sep-14 | ||||||||||
Accumulated | Net Book | |||||||||
Cost | Depreciation | Value | ||||||||
$ | $ | $ | ||||||||
Computer equipment | 320,933 | 320,933 | - | |||||||
Computer software | 75,128 | 75,128 | - | |||||||
Equipment | 10,576 | 10,576 | - | |||||||
406,637 | 406,637 | - | ||||||||
31-Dec-13 | ||||||||||
Accumulated | Net Book | |||||||||
Cost | Depreciation | Value | ||||||||
$ | $ | $ | ||||||||
Computer equipment | 320,933 | 319,700 | 1,233 | |||||||
Computer software | 75,128 | 73,866 | 1,262 | |||||||
Equipment | 10,576 | 10,338 | 238 | |||||||
406,637 | 403,904 | 2,733 | ||||||||
Depreciation expense for the nine months ended September 30, 2014 and 2013 was $2,733 and $847, respectively. |
CONVERTIBLE_DEBENTURE_NOTES_AN
CONVERTIBLE DEBENTURE NOTES AND OTHER LOANS PAYABLE | 9 Months Ended |
Sep. 30, 2014 | |
CONVERTIBLE DEBENTURE NOTES AND OTHER LOANS PAYABLE [Text Block] | ' |
NOTE 4 - CONVERTIBLE DEBENTURE NOTES AND OTHER LOANS PAYABLE | |
Convertible Debentures | |
On August 29, 2012, the Company issued a note payable in the amount of $44,438. The note carries interest at the rate of 10% per annum and was due on February 28, 2013. Since the note was not repaid on maturity, the holder is entitled to convert all or any portion of the original principal face value of the note into shares of common stock of the Company at a conversion value of $0.075. The beneficial conversion feature discount resulting from the conversion price being $0.045 below the market price on August 29, 2012 of $0.12 provided a value of $26,663. During the nine months ended September 30, 2014, $Nil (September 30, 2013 – $8,596) of the debt discount was amortized. As of September 30, 2014, $53,374 (December 31, 2013 - $50,051) of principal and accrued interest was included in other loans payable. The note is past due and continues to accrue interest at the rate of 10% per annum. | |
On September 26, 2012, the Company issued a note payable in the amount of $60,000. The note carries interest at the rate of 10% per annum and was due on March 31, 2013. Since the note was not repaid on maturity, the holder is entitled to convert all or any portion of the original principal face value of the note into shares of common stock of the Company at a conversion value of $0.075. The beneficial conversion feature discount resulting from the conversion price being $0.045 below the market price on September 26, 2012 of $0.12 provided a value of $36,000. During the nine months ended September 30, 2014, $Nil (September 30, 2013 - $17,419) of the debt discount was amortized. As of September 30, 2014, $71,605 (December 31, 2013 - $67,118) of principal and accrued interest was included in other loans payable. The note is past due and continues to accrue interest at the rate of 10% per annum. | |
On October 19, 2012, the Company issued a note payable in the amount of $80,000. The note carries interest at the rate of 10% per annum and was due on April 30, 2013. Since the note was not repaid on maturity, the holder is entitled to convert all or any portion of the original principal face value of the note into shares of common stock of the Company at a conversion value of $0.075. The beneficial conversion feature discount resulting from the conversion price being $0.085 below the market price on October 19, 2012 of $0.16 provided a value of $80,000. During the nine months ended September 30, 2014, $Nil (September 30, 2013 - $49,741) of the debt discount was amortized. As of September 30, 2014, $94,970 (December 31, 2013 - $88,986) of principal and accrued interest was included in other loans payable. The note is past due and continues to accrue interest at the rate of 10% per annum. | |
On January 25, 2013, the Company issued a note payable in the amount of $80,000. The note carries interest at the rate of 10% per annum and was due on October 22, 2013. Since the note was not repaid on maturity, the holder is entitled to convert all or any portion of the original principal face value of the note into shares of common stock of the Company at a conversion value of $0.075. The beneficial conversion feature discount resulting from the conversion price being $0.055 below the market price on January 25, 2013 of $0.13 provided a value of $58,667. During the nine months ended September 30, 2014, $Nil (September 30, 2013 - $53,886) of the debt discount was amortized. As of September 30, 2014, $93,458 (December 31, 2013 - $87,474) of principal and accrued interest was included in other loans payable. The note is past due and continues to accrue interest at the rate of 10% per annum. | |
On April 24, 2013, the Company issued a note payable in the amount of $50,000. The note carries interest at the rate of 10% per annum and was due on October 31, 2013. Since the note was not repaid on maturity, the holder is entitled to convert all or any portion of the original principal face value of the note into shares of common stock of the Company at a conversion value of $0.075. The beneficial conversion feature discount resulting from the conversion price being $0.025 below the market price on April 24, 2013 of $0.10 provided a value of $16,667. During the nine months ended September 30, 2014, $Nil (September 30, 2013 - $13,947) of the debt discount was amortized. As of September 30, 2014, $57,192 (December 31, 2013 - $53,452) of principal and accrued interest was included in other loans payable. The note is past due and continues to accrue interest at the rate of 10% per annum. | |
Other Loans Payable | |
On January 25, 2011, the Company signed a promissory note whereby the Company agreed to repay a director $20,000 plus interest at 10% per annum on April 25, 2011. This loan was not repaid on its maturity and has since been renewed several times with the unpaid principal and interest being capitalized to the loan balance on each renewal. On July 1, 2013, the director combined this loan with a total unpaid principal and interest balance of $2,864 with two other matured loans and extended the maturity date to December 29, 2013. All other terms remained the same. The combined loan was paid in full on September 22, 2014. | |
On February 9, 2011, the Company signed a promissory note whereby the Company agreed to repay a director $5,000 plus interest at 10% per annum on May 9, 2011. This loan was not repaid on its maturity and has since been renewed several times with the unpaid principal and interest being capitalized to the loan balance on each renewal. On July 1, 2013, the director combined this loan with a total unpaid principal and interest balance of $6,324 with two other matured loans and extended the maturity date to December 29, 2013. All other terms remained the same. The combined loan was paid in full on September 22, 2014. | |
On February 11, 2011, the Company signed a promissory note whereby the Company agreed to repay a director $8,988 plus interest at 10% per annum on May 11, 2011. This loan was not repaid on its maturity and has since been renewed several times with the unpaid principal and interest being capitalized to the loan balance on each renewal. On July 1, 2013, the director combined this loan with a total unpaid principal and interest balance of $11,365 with two other matured loans and extended the maturity date to December 29, 2013. All other terms remained the same. The combined loan was paid in full on September 22, 2014. | |
On July 1, 2013, the above three promissory notes to one director of the Company were combined which capitalized the unpaid principal and interest on the three separate promissory notes totaling $20,553 into one promissory note and extended the maturity date to December 29, 2013. All other terms remained the same. In April 2014, the note was renewed retroactively from December 29, 2013 until December 29, 2014 which included interest of $1,025 being capitalized to the principal. As of September 30, 2014, the Company has accrued $Nil (December 31, 2013 - $1,036) of interest relating to this loan. On September 22, 2014, the Company paid the director $23,156 as full repayment of the loan. | |
On February 1, 2012, the Company signed a promissory note whereby the Company agreed to repay a creditor $200,000 plus interest at 24% per annum on May 1, 2012. On May 1, 2012, the Company signed a new promissory note with the creditor which capitalized the unpaid principal and interest of $211,836 under the previous promissory note and extended the maturity date to September 30, 2012. On October 1, 2012, the Company signed a new promissory note with the creditor which capitalized the unpaid principal and interest of $233,147 under the previous promissory note and extended the maturity date to January 31, 2013. The note was not repaid by January 31, 2013; as a result, $18,856 of unpaid interest was capitalized to the principal resulting in a total principal balance outstanding of $252,003 which is incurring a late payment charge of 0.10% per day on any unpaid balances. As of December 31, 2013, the Company had accrued $75,507 of late payment charges which was included in the outstanding principal and interest balance of $309,274. On March 6, 2014, the Company paid the creditor $293,480 as full repayment of the loan and realized a gain of $15,794 which was recorded against interest expense. | |
On October 10, 2012, the Company signed a promissory note whereby the Company agreed to repay a creditor $50,000 plus interest at 10% per annum on April 8, 2013. On April 9, 2013, the Company signed a new promissory note with the creditor which capitalized the unpaid principal and interest of $52,479 under the previous promissory note and extended the maturity date to October 6, 2013. The note was not repaid by October 6, 2013 and continues to accrue interest at the rate of 10% per annum. As of September 30, 2014, the Company has accrued $7,764 (December 31, 2013 - $3,839) of interest relating to this loan. | |
On November 19, 2012, the Company signed a promissory note whereby the Company agreed to repay a creditor $100,000 plus interest at 10% per annum on May 18, 2013. The loan was not repaid by its maturity date; as such, a late payment charge is being accrued on the unpaid principal and interest of $104,959. On December 9, 2013, the Company paid the creditor $15,000 towards the late payment charges. As of December 31, 2013, the Company had accrued $13,260 of interest relating to this loan. On March 6, 2014, the Company paid the creditor $119,059 as full repayment of the loan. | |
On November 19, 2012, the Company signed a promissory note whereby the Company agreed to repay a creditor $100,000 plus interest at 10% per annum on May 18, 2013. The loan was not repaid by May 18, 2013 and continues to accrue interest at the rate of 10% per annum. On July 24, 2013, the creditor combined this loan with another matured loan and extended the maturity date to January 20, 2014. All other terms remained the same. Refer to the promissory note dated July 24, 2013 for further details. The combined loan was repaid in full on March 6, 2014. | |
On December 5, 2012, the Company signed a promissory note whereby the Company agreed to repay a creditor $25,000 plus interest at 10% per annum on June 3, 2013. On June 3, 2013, the Company signed a new promissory note with the creditor which capitalized the unpaid principal and interest of $26,240 under the previous promissory note and extended the maturity date to December 1, 2013. The note was not repaid by December 1, 2013 and continues to accrue interest at the rate of 10% per annum. As of September 30, 2014, the Company has accrued $3,479 (December 31, 2013 - $1,517) of interest relating to this loan. | |
On January 24, 2013, the Company signed a promissory note whereby the Company agreed to repay a creditor $50,000 plus interest at 10% per annum on July 23, 2013. On July 24, 2013, the creditor combined this loan with another matured loan and extended the maturity date to January 20, 2014. All other terms remained the same. Refer to the promissory note dated July 24, 2013 for further details. The combined loan was repaid on March 6, 2014. | |
On February 8, 2013, the Company signed a promissory note whereby the Company agreed to repay a creditor $100,000 plus interest at 10% per annum on August 7, 2013. This loan was not repaid on its maturity and has since been renewed several times with the unpaid principal and interest being capitalized to the loan balance on each renewal. All other terms remained the same. The loan matures on February 4, 2015. As of September 30, 2014, Company has accrued $7,183 (December 31, 2013 - $4,198) of interest on a principal balance of $110,164 (December 31, 2013 - $104,959). | |
On February 19, 2013, the Company signed a promissory note whereby the Company agreed to repay a creditor $33,000 plus interest at 10% per annum on May 20, 2013. The loan was not repaid by May 18, 2013 and continued to accrue interest at the rate of 10% per annum. On July 17, 2013, the Company paid the creditor $34,338 resulting in a full repayment of the loan. | |
On February 28, 2013, the Company signed a promissory note whereby the Company agreed to repay a creditor $50,000 plus interest at 10% per annum on August 27, 2013. This loan was not repaid on its maturity and has since been renewed several times with the unpaid principal and interest being capitalized to the loan balance on each renewal. All other terms remained the same. The loan matures on February 25, 2015. On June 11, 2014, the Company paid the creditor $50,000 of which $1,600 was applied to the accrued interest and $48,400 was applied to the principal outstanding. As of September 30, 2014, Company has accrued $298 (December 31, 2013 - $1,812) of interest on a principal balance of $6,682 (December 31, 2013 - $52,479). | |
On July 24, 2013, the Company signed a new promissory note with a creditor which capitalized the unpaid principal and interest on two separate loans totaling $164,295 under previous promissory notes and extended the maturity date to January 20, 2014. The note was not repaid by January 20, 2014 and continued to accrue interest at the rate of 10% per annum. As of December 31, 2013, the Company has accrued $7,247 of interest relating to this loan. On March 6, 2014, the Company paid the creditor $174,468 as full repayment of the loan. | |
On October 15, 2013, the Company signed a new promissory note with a creditor for a total of $500,000 which was disbursed to the Company in three tranches: Tranche A - $200,000 (received in November 2013); Tranche B - $150,000 (received in December 2013); and Tranche C - $150,000 (received in January 2014). The note had a maturity date of April 15, 2014 and bears interest at 5% per annum. In the event of default, the creditor is able to convert the unpaid principal and interest into common shares of ATS as is required in order for the shareholding of the creditor, when added to the 49% shareholding of Utiba, be equal to 52.57% of the entire issued share capital of ATS. As of December 31, 2013, the balance on the loan was $351,382 which includes $1,382 of accrued interest. On March 6, 2014, the Company paid the creditor $505,063 as full repayment of the loan. | |
On July 24, 2014, the Company signed a promissory note whereby the Company agreed to repay a creditor $250,000 plus interest at 10% per annum on January 24, 2015. As of September 30, 2014, Company has accrued $11,342 of interest. |
LONGTERM_DEBT
LONG-TERM DEBT | 9 Months Ended |
Sep. 30, 2014 | |
LONG-TERM DEBT [Text Block] | ' |
NOTE 5 – LONG-TERM DEBT | |
On August 5, 2013, the Company signed a new promissory note with a creditor for a total of $550,000 which was to be disbursed to the Company in three tranches: Tranche A - $100,000 (received in June 2013); Tranche B - $200,000 by August 31, 2013 (received $100,000 in August 2013 and $100,000 in September 2013); and Tranche C - $250,000 by September 30, 2013 (outstanding as it has not yet been received by the Company). The note had a maturity date of December 31, 2015 and bears interest at 10% per annum with 5% per annum being capitalized to the loan and 5% per annum being payable in cash at each disbursements’ respective anniversary date. In the event of default, the creditor is able to convert the unpaid principal and interest into common shares of ATS at two times the principal amount outstanding with an exercise price being equal to ATS’s capital stock and paid in capital for the month immediately prior to the Event of Default divided by the total outstanding shares of ATS of the same month. As of December 31, 2013, the balance on the loan was $312,667 which included $12,667 of accrued interest. On March 6, 2014, the Company paid the creditor $318,084 as full repayment of the loan. |
CAPITAL_STOCK
CAPITAL STOCK | 9 Months Ended |
Sep. 30, 2014 | |
CAPITAL STOCK [Text Block] | ' |
NOTE 6 – CAPITAL STOCK | |
On September 25, 2014 the Company ‘s Shareholders approved amending the Company’s Articles of Incorporation to increase its authorized capital stock to 510,000,000 shares of which 500,000,000 shared are common stock and 10,000,000 sharesare preferred stock. | |
Common Stock | |
The Company is authorized to issue up to 500,000,000 shares of the Company’s common stock with a par value of $0.00001. During the nine months ended September 30, 2014, the Company: | |
issued 2,495,666 common shares valued at $252,717 for legal, consulting, and investor relations services rendered; | |
issued 1,000,000 common shares valued at $80,000 for consulting services to be rendered over a twelve month period which were included in deferred compensation (see Note 9); and | |
cancelled 1,000,000 common shares valued at $50,000 previously issued for investor relations to be released upon achieving certain benchmarks which were included in deferred compensation (see Note 9). | |
During the year ended December 31, 2013, the Company: | |
issued 1,140,590 common shares valued at $145,388 for employment incentives in accordance with employment agreements; | |
issued 2,840,596 common shares valued at $199,048 for legal, consulting, and investor relations services rendered; | |
issued 700,000 common shares valued at $105,000 for investor relations to be rendered over a twelve month period which were included in deferred compensation (See Note 9); and | |
issued 2,000,000 common shares valued at $100,000 for investor relations to be released upon achieving certain benchmarks which were included in deferred compensation (See Note 9). | |
As of September 30, 2014, the Company had $630,362 (December 31, 2013 - $130,362) in private placement subscriptions which are reported as private placement subscriptions within stockholders’ deficit. | |
Preferred Stock | |
The Company is authorized to issue up to 10,000,000 shares of the Company’s preferred stock with a par value of $0.00001. | |
Income (Loss) Per Share | |
For the nine months ended September 30, 2014 and 2013, the Company had a weighted average of 97,124,452 and 90,646,892 common shares outstanding, respectively, resulting in basic and diluted net and comprehensive loss per common share from continuing operations of $(0.02) (September 30, 2013 - $(0.02)), basic and diluted net and comprehensive income (loss) per common share from discontinued operations of $0.03 (September 30, 2013 – $(0.01)), and basic and diluted net and comprehensive income (loss) per common share of $0.01 (September 30, 2013 - $(0.03)) . | |
For the three months ended September 30, 2014 and 2013, the Company had a weighted average of 99,202,417 and 91,360,926 common shares outstanding, respectively, resulting in basic and diluted net and comprehensive loss per common share from continuing operations of $(0.00) (September 30, 2013 - $(0.01)), basic and diluted net and comprehensive income (loss) per common share from discontinued operations of $0.00 (September 30, 2013 – $(0.00)), and basic and diluted net and comprehensive loss per common share of $(0.00) (September 30, 2013 - $(0.01)) . | |
Stock Options and Restricted Stock | |
Effective July 17, 2014, the Company adopted the 2014 Equity Incentive Plan (the “Plan”) for the purpose of providing the Company with the means to compensate, in the form of common stock of the Company, directors, officer, consultants, advisors, and employees of the Company or any of its subsidiaries. The Plan was approved by the Company’s stockholders at a special meeting held on September 25, 2014. The Plan will terminate on July 17, 2024 following which no new Options or Restricted Stock can be granted under the Plan. The Company is authorized to issue a maximum 5,000,000 common shares under the Plan, which will automatically increase each time the Company issues additional shares of common stock for a maximum of 5% of the total outstanding common stock. | |
As at September 30, 2014, the Company had no outstanding stock options or restricted stock units. |
DISCONTINUED_OPERATIONS
DISCONTINUED OPERATIONS | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
DISCONTINUED OPERATIONS [Text Block] | ' | ||||||||||||
NOTE 7 – DISCONTINUED OPERATIONS | |||||||||||||
On October 15, 2013 and subsequently amended in its entirety on January 6, 2014, the Company, Utiba Pte. Ltd. (“Utiba”), a non-controlling interest investor in ATS, ATS, and Utiba Guatemala entered into an Asset Purchase Agreement in order to effect the sale by ATS of all of its business and assets to Utiba, as described below (the “ATS Transaction”). For such transaction to proceed, approval of the Company’s shareholder was required, which approval was obtained on February 21, 2014. | |||||||||||||
Overview of the ATS Transaction and Consideration Payable | |||||||||||||
1 | The sale pursuant to the Asset Purchase Agreement by ATS of substantially all of its business and assets to Utiba (including the assumption by Utiba of certain liabilities related to such business and assets), in consideration for up to $3,100,000 in cash (the "Cash Purchase Price") subject to certain adjustments related to certain net receivables or liabilities, as the case may be, and reduction to the extent of certain tax liabilities of ATS. The amount of $300,000 of the Cash Purchase Price will be held back to cover certain claims that may be made under the indemnification provisions of the Asset Purchase Agreement. | ||||||||||||
2 | The entry by the Company into a non-compete covenant in favor of Utiba and its affiliates in the mobile payment, top up and mobile financial services industry for a period of 36 months, in consideration for a payment in cash on closing of the transactions contemplated by the Asset Purchase Agreement (the “Closing”) of $2,200,000. The Company is recognizing the full amount as income on closing as it does not intend to compete in the this industry in the future. | ||||||||||||
3 | The release by the Company of Utiba from all its obligations under the ATS Shareholders Agreement in consideration for a payment in cash on Closing of $200,000. | ||||||||||||
4 | Upon Closing, Utiba shall transfer its 49% interest in ATS to the Company so that the Company will own 100% of ATS after Closing. | ||||||||||||
On March 4, 2014, the ATS Transaction closed pursuant to which the Company received $4,928,036 in proceeds. An additional $667,264 is being held in escrow to cover certain claims that may be made under the indemnification provisions of the Asset Purchase Agreement. The escrow funds are included in sale proceeds held in escrow and deferred gain on sale. | |||||||||||||
As of December 31, 2013, the associated assets and liabilities of the consolidated ATS business have been classified as discontinued operations and are presented below: | |||||||||||||
December 31, | |||||||||||||
2013 | |||||||||||||
$ | |||||||||||||
ASSETS | |||||||||||||
Cash | 44,107 | ||||||||||||
Accounts receivable, net of allowance for doubtful accounts of $789,565 | 301,991 | ||||||||||||
Prepaid cost of sales | 25,056 | ||||||||||||
Deposits and other assets | 40,500 | ||||||||||||
Fixed assets, net of accumulated amortization of $119,006 | 137,170 | ||||||||||||
Intellectual property | 1,500,000 | ||||||||||||
CURRENT ASSETS OF DISCONTINUED OPERATIONS | 2,048,824 | ||||||||||||
LIABILITIES | |||||||||||||
Accounts payable and accrued charges | 555,914 | ||||||||||||
Deferred income | 153,150 | ||||||||||||
Long-term debt | 69,039 | ||||||||||||
Capital leases | 5,042 | ||||||||||||
CURRENT LIABILITIES OF DISCONTINUED OPERATIONS | 783,145 | ||||||||||||
The following table summarizes the financial results of ATS’s consolidated discontinued operations for the three and nine months ended September 30, 2014 and 2013: | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
$ | $ | $ | $ | ||||||||||
Revenue | - | 124,070 | 155,036 | 1,078,987 | |||||||||
Cost of Sales | - | 159,165 | 142,441 | 810,996 | |||||||||
Gross Margin | - | (35,095 | ) | 12,595 | 267,991 | ||||||||
Operating Expenses | (14,394 | ) | 698,230 | 464,858 | 2,437,778 | ||||||||
Net Income (Loss) Before Other Items | 14,394 | (733,325 | ) | (452,263 | ) | (2,169,787 | ) | ||||||
Other Items | - | (17,954 | ) | (12,119 | ) | 36,055 | |||||||
Non-Compete Income | - | - | 2,200,000 | - | |||||||||
Shareholder Release Income | - | - | 200,000 | - | |||||||||
Gain on Disposal of Assets | - | - | 867,653 | - | |||||||||
Net Income (Loss) Before Non-Controlling Interest | 14,394 | (751,279 | ) | 2,803,271 | (2,133,732 | ) | |||||||
Non-Controlling Interest | - | (368,127 | ) | (203,660 | ) | (1,045,529 | ) | ||||||
Discontinued Operations for Alternet Systems, Inc. | 14,394 | (383,152 | ) | 3,006,931 | (1,088,203 | ) | |||||||
The Company will not have any taxes owing on the income earned from the discontinued operation as it has tax losses from prior years which are available to be utilized for tax purposes. | |||||||||||||
The table below details the Company’s gain on disposal of assets at September 30, 2014: | |||||||||||||
Nine Months | |||||||||||||
Ended | |||||||||||||
September 30, | |||||||||||||
2014 | |||||||||||||
$ | |||||||||||||
Total funds received | 4,928,036 | ||||||||||||
Less: Funds relating to non-compete and shareholder release income | (2,400,000 | ) | |||||||||||
Net funds received | 2,528,037 | ||||||||||||
Liabilities assumed by the purchaser | 177,401 | ||||||||||||
Total proceeds | 2,705,438 | ||||||||||||
Assets sold | (1,837,785 | ) | |||||||||||
Gain on disposal of assets | 867,653 | ||||||||||||
The following table summarizes the cash flow of ATS’s consolidated discontinued operations for the nine months ended September 30, 2014 and 2013: | |||||||||||||
Nine Months Ended | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
$ | $ | ||||||||||||
Operating Activities | (494,210 | ) | (471,482 | ) | |||||||||
Investing Activities | 1,630,311 | - | |||||||||||
Financing Activities | (74,083 | ) | 144,254 | ||||||||||
Cash Flows From Discontinued Operations | 1,062,018 | (327,228 | ) | ||||||||||
All other Notes to the consolidated financial statements that were impacted by this discontinued operation have been reclassified accordingly. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2014 | |
RELATED PARTY TRANSACTIONS [Text Block] | ' |
NOTE 8 - RELATED PARTY TRANSACTIONS | |
As of September 30, 2014, a total of $577,583 (December 31, 2013 - $1,046,352) was payable to directors and officers of the Company of which $577,583 (December 31, 2013 – $357,957) was non-interest bearing and had no specific terms of repayment, $Nil (December 31, 2013 - $21,589) related to loans detailed in Note 4, and $Nil (December 31, 2013 - $666,806) related to unpaid wages for prior years accruing interest at 10% per annum. Of the amount payable, $16,102 (December 31, 2013 - $73,950) was included in accounts payable for expense reimbursements, $558,125 (December 31, 2013 - $964,723) was included in wages payable for accrued fees and capitalized interest, and $3,356 (December 31, 2013 - $7,679) was included in due to related parties. | |
During the nine months ended September 30, 2014, a director of the Company and ATS and a director of IMS resigned from the respective Board of Directors. The amounts owing to these two individuals as at September 30, 2014 included $7,999 (December 31, 2013 - $71,279) for accounts payable for expense reimbursements and $160,809 (December 31, 2013 - $520,079) for accrued fees and capitalized interest of which $Nil (December 31, 2013 - $281,120) related to unpaid wages of prior years accruing interest at 10% per annum. Additionally, on September 30, 2014, the former director of IMS released the Company of its obligation to pay the director unpaid wages of $115,792. | |
During the nine months ended September 30, 2014, the Company expensed a total of $312,714 (September 30, 2013 - $796,250) in consulting fees and salaries paid to directors and officers of the Company. Of the amounts incurred, $151,669 (September 30, 2013 - $796,250) has been accrued and $161,041 (September 30, 2013 - $Nil) has been paid in cash. | |
As of September 30, 2014, the Company’s discontinued operations held an accounts receivable from a company with a director in common with the Company for $789,565 ; 6,674,709 Venezuelan bolivar fuerte (“VEF”) (December 31, 2013 - $789,565 ; VEF 6,674,709) which the Company fully allowed for during the year ended December 31, 2013 due to collectability uncertainty caused by the uncertainty of obtaining foreign currency in Venezuela. In addition, the Company owes this company $62,610 (VEF 5,971,438) (December 31, 2013 - $94,784 ; VEF 5,971,438) which is non-interest bearing, has no specific terms of repayment, and is included in due to related parties. |
DEFERRED_COMPENSATION
DEFERRED COMPENSATION | 9 Months Ended |
Sep. 30, 2014 | |
DEFERRED COMPENSATION [Text Block] | ' |
NOTE 9 - DEFERRED COMPENSATION | |
On February 15, 2013, the Company signed an investor relations agreement with a consultant to provide investor relations services for a term of one year. Under the agreement, the Company agreed to make monthly payments to the consultant of $5,000 if the Company was able to raise $1,000,000 by May 16, 2013. As the Company did not raise the $1,000,000 by May 16, 2013, the monthly payments of $5,000 did not commence. The Company also agreed to issue to the consultant 700,000 shares of common stock, in four equal tranches of 175,000 each on or before February 20, 2013, May 16, 2013, August 14, 2013, and November 12, 2013. On February 19, 2013, the Company issued 700,000 shares in the name of the consultant valued at $0.15 per share, the closing price of the stock on the issue date, for a total value of $105,000. As of December 31, 2013, all of the shares had been issued to the consultant. The value of the services is being expensed on a straight-line basis over the life of the contract. During the nine months ended September 30, 2014, the Company expensed $13,125 (September 30, 2013 - $65,625) to investor relations. The contract was expensed in full by February 15, 2014. | |
In October 2013, the Company signed an investor relations agreement with another consultant to provide investor relations services for a term of one year. Under the agreement, the Company agreed to make two monthly payments to the consultant of $10,000 from the date of signing (paid). The Company also agreed to issue to the consultant 2,000,000 shares of common stock based on certain benchmarks. On November 6, 2013, the Company issued 2,000,000 common shares in the name of the consultant valued at $0.05 per share, the closing price of the stock on the issue date, for a total value of $100,000 of which none have been delivered to the consultant. The 2,000,000 shares will be delivered to the consultant when the benchmarks of the contract have been met. If the contract is terminated and the consultant does not meet the stages of the benchmarks, the Company may cancel any shares not delivered to the consultant. The value of the services is being expensed when the benchmarks are met. As at September 30, 2014, two of the benchmarks were met (December 31, 2013 - none); as such, the Company issued 1,000,000 common shares (December 31, 2013 - nil) to the consultant and expensed $50,000 to investor relations. In April 2014, the Company terminated the contract with the consultant and cancelled the remaining 1,000,000 common shares. | |
On February 18, 2014, the Company signed a consulting agreement with a consultant to provide strategic business consulting services for a term of one year. Under the agreement, the Company agreed to make monthly payments of $6,500 to the consultant and to issue the consultant 1,000,000 shares of common stock. On June 9, 2014, the Company issued the 1,000,000 common shares in the name of the consultant valued at $0.08 per share, the closing price of the stock on the issue date, for a total value of $80,000. The value of the services is being expensed on a straight-line basis over six months, the term stipulated in the contract. During the nine months ended September 30, 2014, the Company expensed $80,000 to consulting fees. | |
The Company recorded the aggregate fair value of the shares issued pursuant to the above agreements as deferred compensation. During the nine months ended September 30, 2014, the Company expensed $143,125 (nine months ended September 30, 2013 -$65,625) relating to the above contracts. The shares issued were all valued at their market price on the date of issuance. |
OPERATING_LEASES
OPERATING LEASES | 9 Months Ended |
Sep. 30, 2014 | |
OPERATING LEASES [Text Block] | ' |
NOTE 10 – OPERATING LEASES | |
The Company leases its office facilities under a one-year lease agreement with a monthly cost of $1,800. The lease expires in March 2015 and can be renewed at such time for a similar or longer term. In the normal course of business, it is expected that this lease will be renewed or replaced by a lease on another property. | |
Lease expense totaled $12,600 and $12,576 during the nine months ended September 30, 2014 and 2013, respectively. | |
The Company is required to make $9,000 in future minimum rental payments under the operating lease agreement. |
SUPPLEMENTAL_DISCLOSURE_WITH_R
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS [Text Block] | ' | ||||||
NOTE 11 – SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | |||||||
Nine months ended | |||||||
September 30, | |||||||
2014 | 2013 | ||||||
$ | $ | ||||||
Supplemental cash flow disclosures: | |||||||
Interest paid | 90,532 | 10,760 | |||||
Cash paid for income taxes | - | - | |||||
Supplemental non-cash disclosures: | |||||||
Shares obligated to be issued | - | 52,800 | |||||
Shares issued for share issue costs | - | 21,000 | |||||
Shares issued for deferred compensation | 80,000 | 105,000 | |||||
Shares issued for wages and related benefits payable | - | 85,795 | |||||
Value of beneficial conversion feature | - | 75,333 | |||||
Deferred gain from funds held in escrow | 667,264 | - | |||||
Shares issued for investment in digital currency | 125,000 | - | |||||
Cancellation of shares issued for deferred compensation | 50,000 | - |
FAIR_VALUE
FAIR VALUE | 9 Months Ended | ||
Sep. 30, 2014 | |||
FAIR VALUE [Text Block] | ' | ||
NOTE 12 – FAIR VALUE | |||
Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: | |||
Level 1 – | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | ||
Level 2 – | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | ||
Level 3 – | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | ||
The fair value of the Company’s sale proceeds held in escrow, accounts payable and accrued liabilities, wages payable, accrued taxes, deferred gain on sale, other loans payable, and due to related parties approximates their carrying values. The Company’s other financial instruments, being cash and investment in digital currency, are measured at fair value using Level 1 inputs. |
LAWSUIT
LAWSUIT | 9 Months Ended |
Sep. 30, 2014 | |
LAWSUIT [Text Block] | ' |
NOTE 13 – LAWSUIT | |
In January 2014, the Company received notice of a default judgment in the amount of $39,000 plus interest entered by the State of New York related to an unpaid service agreement entered into on February 11, 2009. The Company has filed a motion to vacate the foreign judgment or in the alternative stay the enforcement. The Company, until receipt of such notice, was unaware of any such demand. No prior notice had been served to the Company or its chief executive. As of September 30, 2014, no provision for this claim has been made. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2014 | |
SUBSEQUENT EVENTS [Text Block] | ' |
NOTE 14 – SUBSEQUENT EVENTS | |
Effective October 23, 2014, the Company amended its articles to increase its authorized capital stock to 510,000,000 shares of which 500,000,000 are common stock with a par value of $0.00001 and 10,000,000 are preferred stock with a par value of $0.00001. | |
Events occurring after September 30, 2014 were evaluated through the date this Interim Report was issued, in compliance with FASB ASC Topic 855 “Subsequent Events”, to ensure that any subsequent events that met the criteria for recognition and/or disclosure in this report have been included |
Recovered_Sheet1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |
Sep. 30, 2014 | ||
Principles of Consolidation [Policy Text Block] | ' | |
Principles of Consolidation | ||
These condensed consolidated financial statements include the accounts of the following companies: | ||
Alternet Systems Inc. | ||
AI Systems Group, Inc., a wholly owned subsidiary of Alternet | ||
Tekvoice Communications, Inc., a wholly owned subsidiary of Alternet | ||
Alternet Transactions Systems, Inc. (“ATS”), a wholly owned subsidiary of Alternet (formerly a 51% owned subsidiary. See Note 7, Discontinued Operations) | ||
Utiba Guatemala, S.A., a wholly-owned subsidiary of Alternet Transactions Systems Inc. | ||
International Mobile Security (“IMS”), Inc, a wholly owned subsidiary of Alternet (formerly a 60% owned subsidiary) | ||
Megatecnica, S.A., a wholly owned subsidiary of International Mobile Security, Inc. | ||
OneMarket, Inc., a wholly owned subsidiary of Alternet | ||
Alternet Payment Solutions, LLC, a wholly owned subsidiary of Alternet. | ||
The minority interests of ATS, IMS, and ATS’s and IMS’s wholly owned subsidiaries have been deducted from earnings and equity. All significant intercompany transactions and account balances have been eliminated. | ||
Use of Estimates and Assumptions [Policy Text Block] | ' | |
Use of Estimates and Assumptions | ||
The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statement date and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, fair value of convertible notes payable and derivative liabilities. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected | ||
Revenue Recognition [Policy Text Block] | ' | |
Revenue Recognition | ||
Up to March 4, 2014, the Company entered into sales arrangements that may have provided for multiple deliverables to a customer. Software sales may have included the sale of a software license, implementation/customization services, and/or ongoing support services. | ||
In order to treat deliverables in a multiple-deliverable arrangement as separate units of accounting, the deliverables must have standalone value upon delivery. If the deliverables have standalone value upon delivery, the Company accounts for each deliverable separately. Licenses, support fees, and hosted services have standalone value as such services are often sold separately. In determining whether implementation/customization services have standalone value, the Company considers the following factors for each agreement: availability of the services from other vendors, the nature of the services, the timing of when the services contract was signed in comparison to the services start date, and the contractual dependence of the customization service on the customer’s satisfaction with the implementation/customization services work. | ||
The Company concluded that all of the services included in multiple-deliverable arrangements executed had standalone values when multiple deliverables included in an arrangement are separated into different units of accounting. The arrangement consideration is allocated to the identified separate units based on a relative selling price hierarchy. The Company determines the relative selling price for a deliverable based on its vendor-specific objective evidence of selling price (“VSOE”), if available, or its best estimate of selling price (“BESP”), if VSOE is not available. The Company has determined that third-party evidence of selling price (“TPE”) is not a practical alternative due to differences in its service offerings compared to other parties and the availability of relevant third party pricing information. The amount of revenue allocated to delivered items is limited by contingent revenue, if any. | ||
The Company has not established VSOE for a majority of its revenue due to lack of pricing consistency, the customer specific requests, and other factors. Accordingly, the Company used its BESP to determine the relative selling price. | ||
The Company determined BESP by considering its overall pricing objectives and market conditions. Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of the Company’s transactions, the geographic area where services are sold, its market strategy, historic contractually stated prices and prior relationships, and future service sales with certain customers. The determination of BESP is made through consultation with and approval by the Company’s management, taking into consideration the market strategy. As the Company’s market strategies evolve, the Company may modify its pricing practices in the future, which could result in changes in selling prices. | ||
Revenue was recognized upon delivery or when services were performed, provided that persuasive evidence of a sales arrangement existed, both title and risk of loss passed to the customer, and collection was reasonably assured. Persuasive evidence of a sales arrangement existed upon execution of a written sales agreement or signed purchase order that constituted a fixed and legally binding commitment between the Company and the buyer. Specifically, revenue from the sale of licenses was recognized when the title of the license transferred to the customer while revenue from implementation/customization services performed was recognized upon successful completion of a User Acceptance Test (“UAT”). If a successful UAT was never achieved and the sales arrangement was cancelled, the Company recognized any deferred revenue not required to be refunded to the customer. | ||
The Company’s payment terms vary by client. To reduce credit risk in connection with software license and support sales, the Company may, depending upon the circumstances, require significant deposits prior to delivery. In some circumstances, the Company may require payment in full for its products prior to delivery. For support and hosted services, the Company sold customers service agreements that were recorded as deferred revenue and provided for payment in advance on either an annual or other periodic basis. Revenue for these support services was recognized ratable over the term of the agreement. | ||
Subsequent to March 4, 2014 the Company implemented the criteria outlined in SAB 104 and recognizes revenue when: | ||
- | persuasive evidence of an arrangement exists; | |
- | delivery has occurred or services have been rendered; | |
- | the seller’s price to the buyer is fixed or determinable; and | |
- | collectability is reasonably assured. | |
Research and Development [Policy Text Block] | ' | |
Research and Development | ||
The Company expenses costs when incurred for items associated with researching and developing new sources of revenue. | ||
Digital Currency Transactions [Policy Text Block] | ' | |
Digital Currency Transactions | ||
The Company enters into transactions that are denominated in digital currency (Ven). These transactions result in digital currency denominated assets and liabilities that are revalued periodically. Upon revaluation, transaction gains and losses are generated and are reported as unrealized gains and losses in other gain (loss), net in the Condensed and Consolidated Statements of Operations. The Company determines fair value as of the balance sheet date based on Level I inputs which consist of quoted prices in active markets. The value of the Company’s digital currency is $122,671, net of $2,329 of unrealized losses, as of September 30, 2014. Due to the uncertainty regarding the current and future accounting treatment and tax, legal and regulatory requirements relating to digital currencies or transactions utilizing digital currencies, such accounting, legal, regulatory and tax developments or other requirements may adversely affect us. | ||
Long-Lived Assets Including Other Acquired Intellectual Property [Policy Text Block] | ' | |
Long-Lived Assets Including Other Acquired Intellectual Property | ||
Management monitors the recoverability of long-lived assets and intangibles based on estimates using factors such as current market value, future asset utilization, and future undiscounted cash flows expected to result from its investment or use of the related assets. The Company’s policy is to record any impairment loss in the period when it the Company determines that the carrying amount of the asset may not be recoverable. Any impairment loss is calculated as the excess of the carrying value over estimated realizable value. The Company did not record any significant impairments on long-lived assets during the nine months ended September 30, 2014 and 2013. Intangible assets deemed to have an indefinite life are not amortized but are subject to impairment tests at each reporting date. The Company assesses the impairment of intangible assets on a quarterly basis or whenever events or changes in circumstances indicate that the fair value is less than its carrying value. If the carrying amount of the intangible asset exceeds its fair value, the intangible asset is considered impaired and the second step of the test is performed to determine the amount of impairment loss, if any. The Company did not recognize any impairment charges related to indefinite lived intangible assets during the nine months ended September 30, 2014 and 2013. | ||
Income (Loss) per Share [Policy Text Block] | ' | |
Income (Loss) per Share | ||
The Company computes net income (loss) per share in accordance with ASC Topic 260, Earnings Per Share . Topic 260 requires presentation of both basic and diluted earnings per share (EPS). Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including warrants using the treasury stock method. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. | ||
At September 30, 2014 and December 31, 2013 the Company had no warrants or options outstanding to consider in the income (loss) per share calculations. | ||
Stock-Based Compensation [Policy Text Block] | ' | |
Stock-Based Compensation | ||
The Company accounts for its share-based compensation plans in accordance with the fair value recognition provisions of ASC 718 Compensation-Stock Compensation . The Company utilizes the Black-Scholes option pricing model as its method for determining the fair value of stock option grants. ASC 718 requires the fair value of all share-based awards that are expected to vest to be recognized in the statements of operations over the service or vesting period of each award. The Company uses the straight-line method of attributing the value of share-based compensation expense for all stock option grants over the requisite service period. | ||
Reclassification [Policy Text Block] | ' | |
Reclassification | ||
Certain comparative figures have been reclassified in order to conform to the current year’s presentation. | ||
Recent Accounting Pronouncements [Policy Text Block] | ' | |
Recent Accounting Pronouncements | ||
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This ASU is to be applied prospectively for all disposals of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods beginning on or after December 15, 2015. Additionally, this ASU is to be applied to all business activated that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within annual periods beginning on or after December 15, 2015. ASU No 2014-08 addresses concerns about the accounting for discontinued operations and the disposal of small groups of assets that are recurring in nature but qualify as discontinued operations under subtopic 205-20 Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU is effective for annual reporting periods beginning after December 15, 2016. ASU No 2014-09 addresses concerns about weaknesses and inconsistencies in revenue recognition across entities, industries, jurisdictions, and capital markets. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This ASU is effective for annual reporting periods beginning after December 15, 2015. ASU No 2014-12 clarifies the diverse accounting treatments used by entities to account for awards based on performance targets achieved after the requisite period. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. | ||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Topic 205): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern This ASU is effective for annual reporting periods ending after December 15, 2016. ASU No 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management does not anticipate that this accounting pronouncement will have any material future effect on our consolidated financial statements. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows. |
FIXED_ASSETS_Tables
FIXED ASSETS (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | ' | ' | ||||||||||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||||||||||
Accumulated | Net Book | Accumulated | Net Book | |||||||||||||||||
Cost | Depreciation | Value | Cost | Depreciation | Value | |||||||||||||||
$ | $ | $ | $ | $ | $ | |||||||||||||||
Computer equipment | 320,933 | 320,933 | - | Computer equipment | 320,933 | 319,700 | 1,233 | |||||||||||||
Computer software | 75,128 | 75,128 | - | Computer software | 75,128 | 73,866 | 1,262 | |||||||||||||
Equipment | 10,576 | 10,576 | - | Equipment | 10,576 | 10,338 | 238 | |||||||||||||
406,637 | 406,637 | - | 406,637 | 403,904 | 2,733 |
DISCONTINUED_OPERATIONS_Tables
DISCONTINUED OPERATIONS (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet [Table Text Block] | ' | ||||||||||||
December 31, | |||||||||||||
2013 | |||||||||||||
$ | |||||||||||||
ASSETS | |||||||||||||
Cash | 44,107 | ||||||||||||
Accounts receivable, net of allowance for doubtful accounts of $789,565 | 301,991 | ||||||||||||
Prepaid cost of sales | 25,056 | ||||||||||||
Deposits and other assets | 40,500 | ||||||||||||
Fixed assets, net of accumulated amortization of $119,006 | 137,170 | ||||||||||||
Intellectual property | 1,500,000 | ||||||||||||
CURRENT ASSETS OF DISCONTINUED OPERATIONS | 2,048,824 | ||||||||||||
LIABILITIES | |||||||||||||
Accounts payable and accrued charges | 555,914 | ||||||||||||
Deferred income | 153,150 | ||||||||||||
Long-term debt | 69,039 | ||||||||||||
Capital leases | 5,042 | ||||||||||||
CURRENT LIABILITIES OF DISCONTINUED OPERATIONS | 783,145 | ||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block] | ' | ||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
$ | $ | $ | $ | ||||||||||
Revenue | - | 124,070 | 155,036 | 1,078,987 | |||||||||
Cost of Sales | - | 159,165 | 142,441 | 810,996 | |||||||||
Gross Margin | - | (35,095 | ) | 12,595 | 267,991 | ||||||||
Operating Expenses | (14,394 | ) | 698,230 | 464,858 | 2,437,778 | ||||||||
Net Income (Loss) Before Other Items | 14,394 | (733,325 | ) | (452,263 | ) | (2,169,787 | ) | ||||||
Other Items | - | (17,954 | ) | (12,119 | ) | 36,055 | |||||||
Non-Compete Income | - | - | 2,200,000 | - | |||||||||
Shareholder Release Income | - | - | 200,000 | - | |||||||||
Gain on Disposal of Assets | - | - | 867,653 | - | |||||||||
Net Income (Loss) Before Non-Controlling Interest | 14,394 | (751,279 | ) | 2,803,271 | (2,133,732 | ) | |||||||
Non-Controlling Interest | - | (368,127 | ) | (203,660 | ) | (1,045,529 | ) | ||||||
Discontinued Operations for Alternet Systems, Inc. | 14,394 | (383,152 | ) | 3,006,931 | (1,088,203 | ) | |||||||
Schedule of Disposal Groups, Including Discontinued Operations, Gain on Disposal of Assets [Table Text Block] | ' | ||||||||||||
Nine Months | |||||||||||||
Ended | |||||||||||||
September 30, | |||||||||||||
2014 | |||||||||||||
$ | |||||||||||||
Total funds received | 4,928,036 | ||||||||||||
Less: Funds relating to non-compete and shareholder release income | (2,400,000 | ) | |||||||||||
Net funds received | 2,528,037 | ||||||||||||
Liabilities assumed by the purchaser | 177,401 | ||||||||||||
Total proceeds | 2,705,438 | ||||||||||||
Assets sold | (1,837,785 | ) | |||||||||||
Gain on disposal of assets | 867,653 | ||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Cash Flow [Table Text Block] | ' | ||||||||||||
Nine Months Ended | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
$ | $ | ||||||||||||
Operating Activities | (494,210 | ) | (471,482 | ) | |||||||||
Investing Activities | 1,630,311 | - | |||||||||||
Financing Activities | (74,083 | ) | 144,254 | ||||||||||
Cash Flows From Discontinued Operations | 1,062,018 | (327,228 | ) |
SUPPLEMENTAL_DISCLOSURE_WITH_R1
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||
Nine months ended | |||||||
September 30, | |||||||
2014 | 2013 | ||||||
$ | $ | ||||||
Supplemental cash flow disclosures: | |||||||
Interest paid | 90,532 | 10,760 | |||||
Cash paid for income taxes | - | - | |||||
Supplemental non-cash disclosures: | |||||||
Shares obligated to be issued | - | 52,800 | |||||
Shares issued for share issue costs | - | 21,000 | |||||
Shares issued for deferred compensation | 80,000 | 105,000 | |||||
Shares issued for wages and related benefits payable | - | 85,795 | |||||
Value of beneficial conversion feature | - | 75,333 | |||||
Deferred gain from funds held in escrow | 667,264 | - | |||||
Shares issued for investment in digital currency | 125,000 | - | |||||
Cancellation of shares issued for deferred compensation | 50,000 | - |
NATURE_OF_OPERATIONS_AND_BASIS1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Nature Of Operations And Basis Of Presentation 1 | $3,632,182 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Summary Of Significant Accounting Policies 1 | 51.00% |
Summary Of Significant Accounting Policies 2 | 60.00% |
Summary Of Significant Accounting Policies 3 | $122,671 |
Summary Of Significant Accounting Policies 4 | $2,329 |
FIXED_ASSETS_Narrative_Details
FIXED ASSETS (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Fixed Assets 1 | $2,733 |
Fixed Assets 2 | $847 |
CONVERTIBLE_DEBENTURE_NOTES_AN1
CONVERTIBLE DEBENTURE NOTES AND OTHER LOANS PAYABLE (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Convertible Debenture Notes And Other Loans Payable 1 | $44,438 |
Convertible Debenture Notes And Other Loans Payable 2 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 3 | 0.075 |
Convertible Debenture Notes And Other Loans Payable 4 | 0.045 |
Convertible Debenture Notes And Other Loans Payable 5 | 0.12 |
Convertible Debenture Notes And Other Loans Payable 6 | 26,663 |
Convertible Debenture Notes And Other Loans Payable 7 | 0 |
Convertible Debenture Notes And Other Loans Payable 8 | 8,596 |
Convertible Debenture Notes And Other Loans Payable 9 | 53,374 |
Convertible Debenture Notes And Other Loans Payable 10 | 50,051 |
Convertible Debenture Notes And Other Loans Payable 11 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 12 | 60,000 |
Convertible Debenture Notes And Other Loans Payable 13 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 14 | 0.075 |
Convertible Debenture Notes And Other Loans Payable 15 | 0.045 |
Convertible Debenture Notes And Other Loans Payable 16 | 0.12 |
Convertible Debenture Notes And Other Loans Payable 17 | 36,000 |
Convertible Debenture Notes And Other Loans Payable 18 | 0 |
Convertible Debenture Notes And Other Loans Payable 19 | 17,419 |
Convertible Debenture Notes And Other Loans Payable 20 | 71,605 |
Convertible Debenture Notes And Other Loans Payable 21 | 67,118 |
Convertible Debenture Notes And Other Loans Payable 22 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 23 | 80,000 |
Convertible Debenture Notes And Other Loans Payable 24 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 25 | 0.075 |
Convertible Debenture Notes And Other Loans Payable 26 | 0.085 |
Convertible Debenture Notes And Other Loans Payable 27 | 0.16 |
Convertible Debenture Notes And Other Loans Payable 28 | 80,000 |
Convertible Debenture Notes And Other Loans Payable 29 | 0 |
Convertible Debenture Notes And Other Loans Payable 30 | 49,741 |
Convertible Debenture Notes And Other Loans Payable 31 | 94,970 |
Convertible Debenture Notes And Other Loans Payable 32 | 88,986 |
Convertible Debenture Notes And Other Loans Payable 33 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 34 | 80,000 |
Convertible Debenture Notes And Other Loans Payable 35 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 36 | 0.075 |
Convertible Debenture Notes And Other Loans Payable 37 | 0.055 |
Convertible Debenture Notes And Other Loans Payable 38 | 0.13 |
Convertible Debenture Notes And Other Loans Payable 39 | 58,667 |
Convertible Debenture Notes And Other Loans Payable 40 | 0 |
Convertible Debenture Notes And Other Loans Payable 41 | 53,886 |
Convertible Debenture Notes And Other Loans Payable 42 | 93,458 |
Convertible Debenture Notes And Other Loans Payable 43 | 87,474 |
Convertible Debenture Notes And Other Loans Payable 44 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 45 | 50,000 |
Convertible Debenture Notes And Other Loans Payable 46 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 47 | 0.075 |
Convertible Debenture Notes And Other Loans Payable 48 | 0.025 |
Convertible Debenture Notes And Other Loans Payable 49 | 0.1 |
Convertible Debenture Notes And Other Loans Payable 50 | 16,667 |
Convertible Debenture Notes And Other Loans Payable 51 | 0 |
Convertible Debenture Notes And Other Loans Payable 52 | 13,947 |
Convertible Debenture Notes And Other Loans Payable 53 | 57,192 |
Convertible Debenture Notes And Other Loans Payable 54 | 53,452 |
Convertible Debenture Notes And Other Loans Payable 55 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 56 | 20,000 |
Convertible Debenture Notes And Other Loans Payable 57 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 58 | 2,864 |
Convertible Debenture Notes And Other Loans Payable 59 | 5,000 |
Convertible Debenture Notes And Other Loans Payable 60 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 61 | 6,324 |
Convertible Debenture Notes And Other Loans Payable 62 | 8,988 |
Convertible Debenture Notes And Other Loans Payable 63 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 64 | 11,365 |
Convertible Debenture Notes And Other Loans Payable 65 | 20,553 |
Convertible Debenture Notes And Other Loans Payable 66 | 1,025 |
Convertible Debenture Notes And Other Loans Payable 67 | 0 |
Convertible Debenture Notes And Other Loans Payable 68 | 1,036 |
Convertible Debenture Notes And Other Loans Payable 69 | 23,156 |
Convertible Debenture Notes And Other Loans Payable 70 | 200,000 |
Convertible Debenture Notes And Other Loans Payable 71 | 24.00% |
Convertible Debenture Notes And Other Loans Payable 72 | 211,836 |
Convertible Debenture Notes And Other Loans Payable 73 | 233,147 |
Convertible Debenture Notes And Other Loans Payable 74 | 18,856 |
Convertible Debenture Notes And Other Loans Payable 75 | 252,003 |
Convertible Debenture Notes And Other Loans Payable 76 | 0.10% |
Convertible Debenture Notes And Other Loans Payable 77 | 75,507 |
Convertible Debenture Notes And Other Loans Payable 78 | 309,274 |
Convertible Debenture Notes And Other Loans Payable 79 | 293,480 |
Convertible Debenture Notes And Other Loans Payable 80 | 15,794 |
Convertible Debenture Notes And Other Loans Payable 81 | 50,000 |
Convertible Debenture Notes And Other Loans Payable 82 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 83 | 52,479 |
Convertible Debenture Notes And Other Loans Payable 84 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 85 | 7,764 |
Convertible Debenture Notes And Other Loans Payable 86 | 3,839 |
Convertible Debenture Notes And Other Loans Payable 87 | 100,000 |
Convertible Debenture Notes And Other Loans Payable 88 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 89 | 104,959 |
Convertible Debenture Notes And Other Loans Payable 90 | 15,000 |
Convertible Debenture Notes And Other Loans Payable 91 | 13,260 |
Convertible Debenture Notes And Other Loans Payable 92 | 119,059 |
Convertible Debenture Notes And Other Loans Payable 93 | 100,000 |
Convertible Debenture Notes And Other Loans Payable 94 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 95 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 96 | 25,000 |
Convertible Debenture Notes And Other Loans Payable 97 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 98 | 26,240 |
Convertible Debenture Notes And Other Loans Payable 99 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 100 | 3,479 |
Convertible Debenture Notes And Other Loans Payable 101 | 1,517 |
Convertible Debenture Notes And Other Loans Payable 102 | 50,000 |
Convertible Debenture Notes And Other Loans Payable 103 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 104 | 100,000 |
Convertible Debenture Notes And Other Loans Payable 105 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 106 | 7,183 |
Convertible Debenture Notes And Other Loans Payable 107 | 4,198 |
Convertible Debenture Notes And Other Loans Payable 108 | 110,164 |
Convertible Debenture Notes And Other Loans Payable 109 | 104,959 |
Convertible Debenture Notes And Other Loans Payable 110 | 33,000 |
Convertible Debenture Notes And Other Loans Payable 111 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 112 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 113 | 34,338 |
Convertible Debenture Notes And Other Loans Payable 114 | 50,000 |
Convertible Debenture Notes And Other Loans Payable 115 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 116 | 50,000 |
Convertible Debenture Notes And Other Loans Payable 117 | 1,600 |
Convertible Debenture Notes And Other Loans Payable 118 | 48,400 |
Convertible Debenture Notes And Other Loans Payable 119 | 298 |
Convertible Debenture Notes And Other Loans Payable 120 | 1,812 |
Convertible Debenture Notes And Other Loans Payable 121 | 6,682 |
Convertible Debenture Notes And Other Loans Payable 122 | 52,479 |
Convertible Debenture Notes And Other Loans Payable 123 | 164,295 |
Convertible Debenture Notes And Other Loans Payable 124 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 125 | 7,247 |
Convertible Debenture Notes And Other Loans Payable 126 | 174,468 |
Convertible Debenture Notes And Other Loans Payable 127 | 500,000 |
Convertible Debenture Notes And Other Loans Payable 128 | 200,000 |
Convertible Debenture Notes And Other Loans Payable 129 | 150,000 |
Convertible Debenture Notes And Other Loans Payable 130 | 150,000 |
Convertible Debenture Notes And Other Loans Payable 131 | 5.00% |
Convertible Debenture Notes And Other Loans Payable 132 | 49.00% |
Convertible Debenture Notes And Other Loans Payable 133 | 52.57% |
Convertible Debenture Notes And Other Loans Payable 134 | 351,382 |
Convertible Debenture Notes And Other Loans Payable 135 | 1,382 |
Convertible Debenture Notes And Other Loans Payable 136 | 505,063 |
Convertible Debenture Notes And Other Loans Payable 137 | 250,000 |
Convertible Debenture Notes And Other Loans Payable 138 | 10.00% |
Convertible Debenture Notes And Other Loans Payable 139 | $11,342 |
LONGTERM_DEBT_Narrative_Detail
LONG-TERM DEBT (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Long-term Debt 1 | $550,000 |
Long-term Debt 2 | 100,000 |
Long-term Debt 3 | 200,000 |
Long-term Debt 4 | 100,000 |
Long-term Debt 5 | 100,000 |
Long-term Debt 6 | 250,000 |
Long-term Debt 7 | 10.00% |
Long-term Debt 8 | 5.00% |
Long-term Debt 9 | 5.00% |
Long-term Debt 10 | 312,667 |
Long-term Debt 11 | 12,667 |
Long-term Debt 12 | $318,084 |
CAPITAL_STOCK_Narrative_Detail
CAPITAL STOCK (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Capital Stock 1 | 510,000,000 |
Capital Stock 2 | 500,000,000 |
Capital Stock 3 | 10,000,000 |
Capital Stock 4 | 500,000,000 |
Capital Stock 5 | $0.00 |
Capital Stock 6 | 2,495,666 |
Capital Stock 7 | 252,717 |
Capital Stock 8 | 1,000,000 |
Capital Stock 9 | 80,000 |
Capital Stock 10 | 1,000,000 |
Capital Stock 11 | 50,000 |
Capital Stock 12 | 1,140,590 |
Capital Stock 13 | 145,388 |
Capital Stock 14 | 2,840,596 |
Capital Stock 15 | 199,048 |
Capital Stock 16 | 700,000 |
Capital Stock 17 | 105,000 |
Capital Stock 18 | 2,000,000 |
Capital Stock 19 | 100,000 |
Capital Stock 20 | 630,362 |
Capital Stock 21 | 130,362 |
Capital Stock 22 | 10,000,000 |
Capital Stock 23 | 0.00001 |
Capital Stock 24 | 97,124,452 |
Capital Stock 25 | 90,646,892 |
Capital Stock 26 | -0.02 |
Capital Stock 27 | -0.02 |
Capital Stock 28 | 0.03 |
Capital Stock 29 | -0.01 |
Capital Stock 30 | 0.01 |
Capital Stock 31 | -0.03 |
Capital Stock 32 | 99,202,417 |
Capital Stock 33 | 91,360,926 |
Capital Stock 34 | 0 |
Capital Stock 35 | -0.01 |
Capital Stock 36 | 0 |
Capital Stock 37 | 0 |
Capital Stock 38 | 0 |
Capital Stock 39 | ($0.01) |
Capital Stock 40 | 5,000,000 |
Capital Stock 41 | 5.00% |
DISCONTINUED_OPERATIONS_Narrat
DISCONTINUED OPERATIONS (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
M | |
Discontinued Operations 1 | $3,100,000 |
Discontinued Operations 2 | 300,000 |
Discontinued Operations 3 | 36 |
Discontinued Operations 4 | 2,200,000 |
Discontinued Operations 5 | 200,000 |
Discontinued Operations 6 | 49.00% |
Discontinued Operations 7 | 100.00% |
Discontinued Operations 8 | 4,928,036 |
Discontinued Operations 9 | $667,264 |
RELATED_PARTY_TRANSACTIONS_Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Related Party Transactions 1 | $577,583 |
Related Party Transactions 2 | 1,046,352 |
Related Party Transactions 3 | 577,583 |
Related Party Transactions 4 | 357,957 |
Related Party Transactions 5 | 0 |
Related Party Transactions 6 | 21,589 |
Related Party Transactions 7 | 0 |
Related Party Transactions 8 | 666,806 |
Related Party Transactions 9 | 10.00% |
Related Party Transactions 10 | 16,102 |
Related Party Transactions 11 | 73,950 |
Related Party Transactions 12 | 558,125 |
Related Party Transactions 13 | 964,723 |
Related Party Transactions 14 | 3,356 |
Related Party Transactions 15 | 7,679 |
Related Party Transactions 16 | 7,999 |
Related Party Transactions 17 | 71,279 |
Related Party Transactions 18 | 160,809 |
Related Party Transactions 19 | 520,079 |
Related Party Transactions 20 | 0 |
Related Party Transactions 21 | 281,120 |
Related Party Transactions 22 | 10.00% |
Related Party Transactions 23 | 115,792 |
Related Party Transactions 24 | 312,714 |
Related Party Transactions 25 | 796,250 |
Related Party Transactions 26 | 151,669 |
Related Party Transactions 27 | 796,250 |
Related Party Transactions 28 | 161,041 |
Related Party Transactions 29 | 0 |
Related Party Transactions 30 | 789,565 |
Related Party Transactions 31 | 6,674,709 |
Related Party Transactions 32 | 789,565 |
Related Party Transactions 33 | 6,674,709 |
Related Party Transactions 34 | 62,610 |
Related Party Transactions 35 | 5,971,438 |
Related Party Transactions 36 | $94,784 |
Related Party Transactions 37 | 5,971,438 |
DEFERRED_COMPENSATION_Narrativ
DEFERRED COMPENSATION (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Deferred Compensation 1 | $5,000 |
Deferred Compensation 2 | 1,000,000 |
Deferred Compensation 3 | 1,000,000 |
Deferred Compensation 4 | 5,000 |
Deferred Compensation 5 | 700,000 |
Deferred Compensation 6 | 175,000 |
Deferred Compensation 7 | 700,000 |
Deferred Compensation 8 | $0.15 |
Deferred Compensation 9 | 105,000 |
Deferred Compensation 10 | 13,125 |
Deferred Compensation 11 | 65,625 |
Deferred Compensation 12 | 10,000 |
Deferred Compensation 13 | 2,000,000 |
Deferred Compensation 14 | 2,000,000 |
Deferred Compensation 15 | $0.05 |
Deferred Compensation 16 | 100,000 |
Deferred Compensation 17 | 2,000,000 |
Deferred Compensation 18 | 1,000,000 |
Deferred Compensation 19 | 0 |
Deferred Compensation 20 | 50,000 |
Deferred Compensation 21 | 1,000,000 |
Deferred Compensation 22 | 6,500 |
Deferred Compensation 23 | 1,000,000 |
Deferred Compensation 24 | 1,000,000 |
Deferred Compensation 25 | $0.08 |
Deferred Compensation 26 | 80,000 |
Deferred Compensation 27 | 80,000 |
Deferred Compensation 28 | 143,125 |
Deferred Compensation 29 | $65,625 |
OPERATING_LEASES_Narrative_Det
OPERATING LEASES (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Operating Leases 1 | $1,800 |
Operating Leases 2 | 12,600 |
Operating Leases 3 | 12,576 |
Operating Leases 4 | $9,000 |
LAWSUIT_Narrative_Details
LAWSUIT (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Lawsuit 1 | $39,000 |
SUBSEQUENT_EVENTS_Narrative_De
SUBSEQUENT EVENTS (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events 1 | 510,000,000 |
Subsequent Events 2 | 500,000,000 |
Subsequent Events 3 | $0.00 |
Subsequent Events 4 | 10,000,000 |
Subsequent Events 5 | $0.00 |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Fixed Assets Schedule Of Property, Plant And Equipment 1 | $320,933 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 2 | 320,933 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 3 | 0 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 4 | 75,128 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 5 | 75,128 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 6 | 0 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 7 | 10,576 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 8 | 10,576 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 9 | 0 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 10 | 406,637 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 11 | 406,637 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 12 | 0 | ' |
Fixed Assets Schedule Of Property, Plant And Equipment 1 | ' | 320,933 |
Fixed Assets Schedule Of Property, Plant And Equipment 2 | ' | 319,700 |
Fixed Assets Schedule Of Property, Plant And Equipment 3 | ' | 1,233 |
Fixed Assets Schedule Of Property, Plant And Equipment 4 | ' | 75,128 |
Fixed Assets Schedule Of Property, Plant And Equipment 5 | ' | 73,866 |
Fixed Assets Schedule Of Property, Plant And Equipment 6 | ' | 1,262 |
Fixed Assets Schedule Of Property, Plant And Equipment 7 | ' | 10,576 |
Fixed Assets Schedule Of Property, Plant And Equipment 8 | ' | 10,338 |
Fixed Assets Schedule Of Property, Plant And Equipment 9 | ' | 238 |
Fixed Assets Schedule Of Property, Plant And Equipment 10 | ' | 406,637 |
Fixed Assets Schedule Of Property, Plant And Equipment 11 | ' | 403,904 |
Fixed Assets Schedule Of Property, Plant And Equipment 12 | ' | $2,733 |
Schedule_of_Disposal_Groups_In
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 1 | $44,107 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 2 | 789,565 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 3 | 301,991 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 4 | 25,056 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 5 | 40,500 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 6 | 119,006 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 7 | 137,170 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 8 | 1,500,000 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 9 | 2,048,824 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 10 | 555,914 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 11 | 153,150 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 12 | 69,039 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 13 | 5,042 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 14 | $783,145 |
Schedule_of_Disposal_Groups_In1
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 1 | $0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 2 | 124,070 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 3 | 155,036 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 4 | 1,078,987 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 5 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 6 | 159,165 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 7 | 142,441 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 8 | 810,996 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 9 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 10 | -35,095 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 11 | 12,595 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 12 | 267,991 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 13 | -14,394 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 14 | 698,230 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 15 | 464,858 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 16 | 2,437,778 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 17 | 14,394 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 18 | -733,325 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 19 | -452,263 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 20 | -2,169,787 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 21 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 22 | -17,954 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 23 | -12,119 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 24 | 36,055 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 25 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 26 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 27 | 2,200,000 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 28 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 29 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 30 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 31 | 200,000 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 32 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 33 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 34 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 35 | 867,653 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 36 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 37 | 14,394 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 38 | -751,279 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 39 | 2,803,271 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 40 | -2,133,732 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 41 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 42 | -368,127 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 43 | -203,660 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 44 | -1,045,529 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 45 | 14,394 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 46 | -383,152 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 47 | 3,006,931 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 48 | ($1,088,203) |
Schedule_of_Disposal_Groups_In2
Schedule of Disposal Groups, Including Discontinued Operations, Gain on Disposal of Assets (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 1 | $4,928,036 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 2 | -2,400,000 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 3 | 2,528,037 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 4 | 177,401 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 5 | 2,705,438 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 6 | -1,837,785 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Gain On Disposal Of Assets 7 | $867,653 |
Schedule_of_Disposal_Groups_In3
Schedule of Disposal Groups, Including Discontinued Operations, Cash Flow (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 1 | ($494,210) |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 2 | -471,482 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 3 | 1,630,311 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 4 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 5 | -74,083 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 6 | 144,254 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 7 | 1,062,018 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Cash Flow 8 | ($327,228) |
Schedule_of_Cash_Flow_Suppleme
Schedule of Cash Flow, Supplemental Disclosures (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 1 | $90,532 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 2 | 10,760 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 3 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 4 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 5 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 6 | 52,800 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 7 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 8 | 21,000 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 9 | 80,000 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 10 | 105,000 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 11 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 12 | 85,795 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 13 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 14 | 75,333 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 15 | 667,264 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 16 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 17 | 125,000 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 18 | 0 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 19 | 50,000 |
Supplemental Disclosure With Respect To Cash Flows Schedule Of Cash Flow, Supplemental Disclosures 20 | $0 |