Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 12-May-15 | |
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Trading Symbol | yod | |
Entity Registrant Name | YOU ON DEMAND HOLDINGS, INC. | |
Entity Central Index Key | 837852 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 23,835,370 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 |
CONSOLIDATED_BALANCE_SHEET
CONSOLIDATED BALANCE SHEET (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $8,395,492 | $10,812,371 |
Accounts receivable, net | 1,775,563 | 1,091,076 |
Licensed content, current | 1,180,509 | 1,041,609 |
Prepaid expenses | 551,464 | 196,474 |
Other current assets | 31,750 | 22,442 |
Total current assets | 11,934,778 | 13,163,972 |
Property and equipment, net | 289,887 | 320,671 |
Licensed content, non-current | 30,567 | 35,648 |
Intangible assets, net | 2,280,987 | 2,320,103 |
Goodwill | 6,648,911 | 6,648,911 |
Long-term equity investments | 818,225 | 850,054 |
Other non-current assets | 365,267 | 365,006 |
Total assets | 22,368,622 | 23,704,365 |
Current liabilities: | ||
Accounts payable (including accounts payable of consolidated variable interest entity (“VIE”) without recourse to the Company of $10,487 and $8,598 as of March 31, 2015 and December 31, 2014), respectively | 30,329 | 110,814 |
Deferred revenue (including deferred revenue of VIE without recourse to the Company of $129,873 and $13,431 as of March 31, 2015 and December 31, 2014, respectively) | 129,873 | 13,431 |
Accrued expenses and other liabilities (including accrued expenses and other liabilities of VIE without recourse to the Company of $650,844 and $573,620 as of March 31, 2015 and December 31, 2014, respectively) | 3,073,209 | 2,046,783 |
Accrued license fees (including accrued license fees of VIE without recource to the Company of $607,571 and $348,007 as of March 31, 2015 and December 31, 2014, respectively) | 607,571 | 348,007 |
Convertible promissory note | 3,000,000 | 3,000,000 |
Warrant liabilities | 600,345 | 585,050 |
Total current liabilities | 7,441,327 | 6,104,085 |
Deferred income tax liability | 355,960 | 364,572 |
Total liabilities | 7,797,287 | 6,468,657 |
Commitments and contingencies | 0 | 0 |
Equity: | ||
Common stock, $0.001 par value; 1,500,000,000 shares authorized, 23,832,559 and 23,793,702 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively | 23,833 | 23,794 |
Additional paid-in capital | 96,600,948 | 96,347,272 |
Accumulated deficit | -81,155,356 | -78,356,567 |
Accumulated other comprehensive loss | -63,847 | -66,032 |
Total YOU On Demand shareholder's equity | 15,412,904 | 17,955,832 |
Non-controlling interest | -2,103,564 | -1,982,119 |
Total equity | 13,309,340 | 15,973,713 |
Total liabilities, convertible redeemable preferred stock and equity | 22,368,622 | 23,704,365 |
Series A - 7,000,000 shares issued and outstanding, liquidation preference of $3,500,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock: | ||
Series A - 7,000,000 shares issued and outstanding, liquidation preference of $3,500,000 at March 31, 2015 and December 31, 2014, respectively | 1,261,995 | 1,261,995 |
Series E Preferred Stock - $0.001 par value 16,500,000 shares authorized, 7,365,283 and nil shares issued and outstanding, liquidation preference of $12,889,250 and nil at December 31, 2014 and December 31, 2013, respectively [Member] | ||
Equity: | ||
Series E Preferred Stock - $0.001 par value; 16,500,000 shares authorized, 7,326,426 and 7,365,283 shares issued and outstanding, liquidation preference of $12,821,246 and $12,889,250 at March 31, 2015 and December 31, 2014, respectively | $7,326 | $7,365 |
CONSOLIDATED_BALANCE_SHEET_Par
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts payable of consolidated variable interest entities (VIEs) without resource to the Company | $10,487 | $8,598 |
Deferred revenue of VIEs without resource to the Company | 129,873 | 13,431 |
Accrued expenses and other liabilities of VIEs without resource to the Company | 650,844 | 573,620 |
Accrued license fees of VIEs without resource to the Company | 607,571 | 348,007 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in shares) | 1,500,000,000 | 1,500,000,000 |
Common stock, shares issued (in shares) | 23,832,559 | 23,793,702 |
Common stock, shares outstanding | 23,832,559 | 23,793,702 |
Series A - 7,000,000 shares issued and outstanding, liquidation preference of $3,500,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock, issued (in shares) | 7,000,000 | 7,000,000 |
Convertible redeemable preferred stock, outstanding (in shares) | 7,000,000 | 7,000,000 |
Convertible redeemable preferred stock, liquidation preference | 3,500,000 | 3,500,000 |
Series E Preferred Stock - $0.001 par value 16,500,000 shares authorized, 7,365,283 and nil shares issued and outstanding, liquidation preference of $12,889,250 and nil at December 31, 2014 and December 31, 2013, respectively [Member] | ||
Preferred Stock, Par Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 16,500,000 | 16,500,000 |
Preferred Stock, Shares Issued | 7,326,426 | 7,365,283 |
Preferred Stock, Shares Outstanding | 7,326,426 | 7,365,283 |
Preferred Stock, Liquidation Preference, Value | $12,821,246 | $12,889,250 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Revenue | $1,027,928 | $137,681 |
Cost of revenue | 1,042,999 | 875,938 |
Gross loss | -15,071 | -738,257 |
Operating expenses: | ||
Selling, general and administrative expense | 2,448,302 | 1,640,640 |
Professional fees | 288,718 | 185,484 |
Depreciation and amortization | 89,743 | 149,960 |
Total operating expense | 2,826,763 | 1,976,084 |
Loss from operations | -2,841,834 | -2,714,341 |
Interest and other income/(expense) | ||
Interest expense, net | -28,323 | -2,288,738 |
Change in fair value of warrant liabilities | -15,295 | -2,439,018 |
Change in fair value of contingent consideration | 0 | -703,126 |
Loss on long-term equity investments | -32,403 | -4,908 |
Gain from disposal of consolidated entities | 0 | 727,963 |
Others | -9,767 | -52,666 |
Net loss before income taxes and non-controlling interest | -2,927,622 | -7,474,834 |
Income tax benefit | 8,612 | 22,942 |
Net loss | -2,919,010 | -7,451,892 |
Net loss attributable to non-controlling interest | 120,221 | 234,784 |
Net loss attributable to YOU On Demand shareholders | -2,798,789 | -7,217,108 |
Dividends and deemed dividends on preferred stock | 0 | -16,402,161 |
Net loss attributable to YOU On Demand common shareholders | ($2,798,789) | ($23,619,269) |
Basic and diluted loss per share | ($0.12) | ($1.48) |
Weighted average shares outstanding: | ||
Basic and diluted | 23,815,720 | 15,931,394 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Net loss | ($2,919,010) | ($7,451,892) |
Other comprehensive income/(loss), net of tax | ||
Foreign currency translation adjustments | 961 | 24,715 |
Comprehensive loss | -2,918,049 | -7,427,177 |
Comprehensive loss attributable to non-controlling interest | 121,445 | 241,665 |
Comprehensive loss attributable to YOU On Demand shareholders | ($2,796,604) | ($7,185,512) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | ($2,919,010) | ($7,451,892) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Share-based compensation expense | 403,676 | 138,656 |
Provision for doubtful accounts | 9,087 | 0 |
Depreciation and amortization | 89,743 | 149,960 |
Amortization of interest expense related to debt issuance costs | 0 | 128,879 |
Amortization of interest expense related to beneficial conversion feature | 0 | 2,126,301 |
Income tax benefit | -8,612 | -22,942 |
Loss on long-term equity investments | 32,403 | 4,908 |
Loss on disposal of assets | 941 | 0 |
Change in fair value of warrant liabilities | 15,295 | 2,439,018 |
Change in fair value of contingent consideration | 0 | 703,126 |
Gain from disposal of consolidated entities | 0 | -727,963 |
Change in assets and liabilities, | ||
Accounts receivable | -693,574 | -21,896 |
Licensed content | -133,819 | -595,150 |
Prepaid expenses and other assets | -364,559 | -79,409 |
Accounts payable | -80,485 | 591,927 |
Accrued expenses and other liabilities | 876,426 | -33,275 |
Deferred revenue | 116,442 | 11,485 |
Accrued license fee | 259,564 | -202,539 |
Net cash used in operating activities | -2,396,482 | -2,840,806 |
Cash flows from investing activities: | ||
Acquisition of property and equipment | -20,693 | -2,530 |
Sale of subsidiary | 0 | -57,549 |
Net cash used in investing activities | -20,693 | -60,079 |
Cash flows from financing activities | ||
Proceeds from sale of Series E Preferred Stock | 0 | 16,613,949 |
Proceeds from the exercise of warrants and options | 0 | 521,667 |
Series D Preferred Stock dividend payment | 0 | -92,054 |
Convertible note interest paid | 0 | -19,508 |
Net cash provided by financing activities | 0 | 17,024,054 |
Effect of exchange rate changes on cash | 296 | 8,852 |
Net increase/(decrease) in cash and cash equivalents | -2,416,879 | 14,132,021 |
Cash and cash equivalents at beginning of period | 10,812,371 | 3,822,889 |
Cash and cash equivalents at end of period | 8,395,492 | 17,954,910 |
Supplemental Cash Flow Information: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 19,508 |
Value of warrants issued for issuance costs in connection with Preferred Series E Preferred Stock | 0 | 2,166,296 |
Conversion of convertible promissory note for Series E Preferred Stock | 0 | 2,000,000 |
Exchange of Series D Preferred Stock for Series E Preferred Stock | 0 | 4,000,000 |
Exchange of Series E Preferred Stock for Common stock | $39 | $0 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Preferred Shares [Member] | Common Shares [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | YOU On Demand Shareholders' Equity [Member] | Noncontrolling Interest [Member] | Total |
Beginning Balance at Dec. 31, 2014 | $7,365 | $23,794 | $96,347,272 | ($78,356,567) | ($66,032) | $17,955,832 | ($1,982,119) | $15,973,713 |
Beginning Balance (Shares) at Dec. 31, 2014 | 7,365,283 | 23,793,702 | ||||||
Share-based compensation | 214,404 | 214,404 | 214,404 | |||||
Common stock issued for services | 39,272 | 39,272 | 39,272 | |||||
Conversion of Series E Preferred Stock into common stock | -39 | 39 | ||||||
Conversion of Series E Preferred Stock into common stock (Shares) | -38,857 | 38,857 | ||||||
Net loss attributable to YOU On Demand shareholders | -2,798,789 | -2,798,789 | -120,221 | -2,919,010 | ||||
Foreign currency translation adjustments | 2,185 | 2,185 | -1,224 | 961 | ||||
Ending Balance at Mar. 31, 2015 | $7,326 | $23,833 | $96,600,948 | ($81,155,356) | ($63,847) | $15,412,904 | ($2,103,564) | $13,309,340 |
Ending Balance (Shares) at Mar. 31, 2015 | 7,326,426 | 23,832,559 |
Organization_and_Principal_Act
Organization and Principal Activities | 3 Months Ended | |
Mar. 31, 2015 | ||
Organization and Principal Activities [Text Block] | 1 | Organization and Principal Activities |
YOU On Demand Holdings, Inc., is a Nevada corporation that primarily operates in China through our subsidiaries and variable interest entities (“VIEs”). The Company, its subsidiaries and its VIEs are collectively referred to as YOU on Demand (“YOU On Demand”, “we”, “us”, or “the Company”). | ||
YOU on Demand is principally engaged in providing and delivery of video on demand (“VOD”) content through a comprehensive end-to-end secure delivery system. Our services are offered across multiple platforms, including digital cable television, IPTV (“Internet Protocol Television”), mobile and over-the-top (“OTT”) devices. | ||
In the opinion of management, these financial statements reflect all adjustments, which are of a normal and recurring nature that is necessary for a fair statement of the results for the periods presented in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) and with the instructions to Form 10-Q in Article 10 of SEC Regulation S-X. The results of operations for the interim periods presented are not necessarily indicative of results for the full year. | ||
Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission on March 30, 2015 (our “2014 Annual Report”). |
Going_Concern_and_Managements_
Going Concern and Management's Plans | 3 Months Ended | |
Mar. 31, 2015 | ||
Going Concern and Management's Plans [Text Block] | 2 | Going Concern and Management’s Plans |
For the three months ended March 31, 2015, we incurred a net loss of approximately $2.9 million and we used cash for operations of approximately $2.4 million. Further, we had an accumulated deficit of approximately $81.2 million as of March 31, 2015. | ||
The Company must continue to rely on debt and equity to pay for ongoing operating expenses in order to execute its business plan. On January 31, 2014, we completed a Series E Preferred Stock financing (as discussed below in Note 9) in which we raised an additional $19.0 million. We also have the ability to raise funds by various methods, including utilization of our $50 million shelf registration, of which $47.3 million is remaining, as well as other means of financing such as debt or private investment. However, financing may not be available to the Company on terms acceptable to us or at all or such resources may not be received in a timely manner. Further we may need approval to seek additional financing from the shareholders from the August 2012 private financing in the event we do a public financing. | ||
These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern and, accordingly, do not include any adjustments that might result from the outcome of this uncertainty. |
VIE_Structure_and_Arrangements
VIE Structure and Arrangements | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
VIE Structure and Arrangements [Text Block] | 3 | VIE Structure and Arrangements | ||||||
To comply with PRC laws and regulation that prohibit or restrict foreign ownership of companies that provides value-added telecommunication services, the Company provides its services through Sinotop Beijing and its subsidiary, Zhonghai Video, which holds the licenses and approvals to provide digital distribution and Internet content services in the PRC. The Company has obtained substantial ability to control Sinotop Beijing and Zhonghai Video through a series of contractual agreements entered into among YOD WFOE, YOD Hong Kong, Sinotop Beijing and the legal shareholder of Sinotop Beijing. | ||||||||
Management Services Agreement | ||||||||
Pursuant to a Management Services Agreement, as of March 9, 2010, between Sinotop Beijing and YOD Hong Kong (the “Management Services Agreement”), YOD Hong Kong has the exclusive right to provide to Sinotop Beijing management, financial and other services related to the operation of Sinotop Beijing’s business, and Sinotop Beijing is required to take all commercially reasonable efforts to permit and facilitate the provision of the services by YOD Hong Kong. As compensation for providing the services, YOD Hong Kong is entitled to receive a fee from Sinotop Beijing, upon demand, equal to 100% of the annual net profits of Sinotop Beijing during the term of the Management Services Agreement. YOD Hong Kong may also request ad hoc quarterly payments of the aggregate fee, which payments will be credited against Sinotop Hong Kong’s future payment obligations. | ||||||||
The Management Services Agreement also provides YOD Hong Kong, or its designee, with a right of first refusal to acquire all or any portion of the equity of Sinotop Beijing upon any proposal by the sole shareholder of Sinotop Beijing to transfer such equity. In addition, at the sole discretion of YOD Hong Kong, Sinotop Beijing is obligated to transfer to YOD Hong Kong, or its designee, any part or all of the business, personnel, assets and operations of Sinotop Beijing which may be lawfully conducted, employed, owned or operated by YOD Hong Kong, including: | ||||||||
(a) business opportunities presented to, or available to Sinotop Beijing may be pursued and contracted for in the name of YOD Hong Kong rather than Sinotop Beijing, and at its discretion, YOD Hong Kong may employ the resources of Sinotop Beijing to secure such opportunities; | ||||||||
(b) any tangible or intangible property of Sinotop Bejing, any contractual rights, any personnel, and any other items or things of value held by Sinotop Beijing may be transferred to YOD Hong Kong at book value; | ||||||||
(c) real property, personal or intangible property, personnel, services, equipment, supplies and any other items useful for the conduct of the business may be obtained by YOD Hong Kong by acquisition, lease, license or otherwise, and made available to Sinotop Beijing on terms to be determined by agreement between YOD Hong Kong and Sinotop Beijing; | ||||||||
(d) contracts entered into in the name of Sinotop Beijing may be transferred to YOD Hong Kong, or the work under such contracts may be subcontracted, in whole or in part, to YOD Hong Kong, on terms to be determined by agreement between YOD Hong Kong and Sinotop Beijing; and | ||||||||
(e) any changes to, or any expansion or contraction of, the business may be carried out in the exercise of the sole discretion of YOD Hong Kong, and in the name of and at the expense of, YOD Hong Kong; provided, however, that none of the foregoing may cause or have the effect of terminating (without being substantially replaced under the name of YOD Hong Kong) or adversely affecting any license, permit or regulatory status of Sinotop Beijing. | ||||||||
The term of the Management Services Agreement is 20 years, and may not be terminated by Sinotop Beijing, except with the consent of, or a material breach by, YOD Hong Kong. | ||||||||
Equity Pledge Agreement | ||||||||
Pursuant to an Equity Pledge Agreement among YOD Hong Kong, Sinotop Beijing and the sole shareholder of Sinotop Beijing (the “Shareholder”), dated March 9, 2010, the Shareholder pledged all of its equity interests in Sinotop Beijing (the “Collateral”) to YOD Hong Kong as security for the performance of the obligations of Sinotop Beijing to make all of the required management fee payments pursuant to the Management Services Agreement. The term of the Equity Pledge Agreement expires two years from Sinotop Beijing’s satisfaction of all obligations under the Management Services Agreement. | ||||||||
Option Agreement | ||||||||
Pursuant to an Option Agreement among YOD Hong Kong, Sinotop Beijing and the Shareholder, dated March 9, 2010, and entered into in connection with the Management Services Agreement, the Shareholder granted an exclusive option to YOD Hong Kong, or its designee, to purchase, at any time and from time to time, to the extent permitted under PRC law, all or any portion of the Shareholder’s equity in Sinotop Beijing. The aggregate purchase price of the option is equal to the registered paid-in capital of the Shareholder. The term of the agreement is until all of the equity interest in Sinotop Beijing held by the Shareholder is transferred to YOD Hong Kong, or its designee, or until the maximum period allowed by law has run, and may not be terminated by any party to the agreement without the consent of the other parties. | ||||||||
Voting Rights Proxy Agreement | ||||||||
Pursuant to a Voting Rights Proxy Agreement among YOD Hong Kong, Sinotop Beijing and the Shareholder, dated March 9, 2010, the Shareholder granted to YOD Hong Kong an irrevocable proxy, for the maximum period of time permitted by law, all of its voting rights as a shareholder of Sinotop Beijing. The Shareholder may not transfer any of its equity interest in Sinotop Beijing to any party other than YOD Hong Kong. The Voting Rights Proxy Agreement may not be terminated except upon the written consent of all parties, or unilaterally by YOD Hong Kong upon 30 days’ notice. | ||||||||
On June 4, 2012, YOD Hong Kong assigned all rights under the above agreement to YOD WFOE, its wholly-owned subsidiary. Accordingly, YOD WFOE may exercise the above agreements in place of YOD Hong Kong. | ||||||||
Under the above contractual agreements, YOD WFOE has the power to direct the activities of the Sinotop Beijing, and can have the assets transferred freely out of Sinotop Beijing without any restrictions. Therefore, YOD WFOE considers that there is no asset of Sinotop Beijing or Zhonghai Video that can be used only to settle obligations of Sinotop Beijing or Zhonghai Video, except for the registered capital of these two entities amounting to RMB17.0 million (approximately $2.6 million) as of March 31, 2015. As Sinotop Beijing and Zhonghai Video are incorporated as limited liability companies under PRC Company Law, creditors of these two entities do not have recourse to the general credit of other entities of the Company. | ||||||||
Financial Information | ||||||||
The following financial information of our VIE, as applicable for the periods presented, affected the Company’s consolidated financial statements. | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 252,731 | $ | 506,525 | ||||
Accounts receivable, net | 1,775,563 | 1,091,076 | ||||||
Licensed content, current | 1,180,509 | 1,041,609 | ||||||
Prepaid expenses | 90,205 | 105,918 | ||||||
Other current assets | 15,781 | 12,811 | ||||||
Intercompany receivables due from the Company's subsidiaries (i) | 572,709 | 572,192 | ||||||
Total current assets | 3,887,498 | 3,330,131 | ||||||
Property and equipment, net | 275,162 | 297,898 | ||||||
Licensed content, non-current | 30,567 | 35,648 | ||||||
Intangible assets, net | 4,993 | 5,291 | ||||||
Long-term equity investments | 818,225 | 850,054 | ||||||
Other non-current assets | 272,903 | 272,657 | ||||||
Total assets | $ | 5,289,348 | $ | 4,791,679 | ||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 10,487 | $ | 8,598 | ||||
Deferred revenue | 129,873 | 13,431 | ||||||
Accrued expenses and other liabilities | 650,844 | 573,620 | ||||||
Accrued license fees | 607,571 | 348,007 | ||||||
Intercompany payables due to the Company's subsidiaries (i) | 11,886,998 | 11,200,536 | ||||||
Total current liabilities | 13,285,773 | 12,144,192 | ||||||
Total liabilities | $ | 13,285,773 | $ | 12,144,192 | ||||
(i) | Intercompany receivables and payables are eliminated upon consolidation | |||||||
Three Months Ended | ||||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Net revenue | $ | 1,027,928 | $ | 137,681 | ||||
Net loss | $ | (633,487 | ) | $ | (1,179,744 | ) | ||
Three Months Ended | ||||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Net cash used in operating activities | $ | (233,114 | ) | $ | (779,238 | ) | ||
Net cash used in investing activities | $ | (20,693 | ) | $ | (1,573 | ) | ||
Net cash provided by financing activities | $ | - | $ | - |
Sales_of_WFOE_and_Dissolution_
Sales of WFOE and Dissolution of Jinan Zhong Kuan | 3 Months Ended | |
Mar. 31, 2015 | ||
Sales of WFOE and Dissolution of Jinan Zhong Kuan [Text Block] | 4 | Sales of WFOE and Dissolution of Jinan Zhong Kuan |
On March 25, 2014, we sold Beijing China Broadband Network Technology Co., Ltd. (“WFOE”), our wholly-owned subsidiary, to Linkstar Global Investment Limited. On the same date, we dissolved Jinan Zhong Kuan Dian Guang Information Technology Co., Ltd. (“Jinan Zhong Kuan”), the VIE of WFOE. Both WFOE and Jinan Zhong Kuan were investment holding companies and were sold or dissolved when we determined that they were no longer required for our organizational structure. Total consideration for the sale of WFOE was US$50,000, which we received in the third quarter of 2014. In accordance with ASC 810-10-40, Deconsolidation of a Subsidiary , we derecognized the net assets associated with WFOE and Jinan Zhong Kuan on March 25, 2014 when we ceased to have controlling financial interest in these entities. |
Property_and_Equipment
Property and Equipment | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property and Equipment [Text Block] | 5 | Property and Equipment | ||||||
The following is a breakdown of our property and equipment: | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Furniture and office equipment | $ | 978,672 | $ | 959,080 | ||||
Leasehold improvements | 190,895 | 190,722 | ||||||
Total property and equipment | 1,169,567 | 1,149,802 | ||||||
Less: accumulated depreciation | (879,680 | ) | (829,131 | ) | ||||
Net carrying value | $ | 289,887 | $ | 320,671 | ||||
We recorded depreciation expense of approximately $51,000 and $65,000, which is included in our operating expense for the three months ended March 31, 2015 and 2014, respectively. |
Intangible_Assets
Intangible Assets | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Intangible Assets [Text Block] | 6 | Intangible Assets | ||||||||||||||||||
The Company intangible assets primarily arose from the acquisition of YOD Hong Kong. | ||||||||||||||||||||
As of March 31, 2015, the Company’s amortized intangible assets consisted of the following: | ||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
Gross Carrying | Accumulated | Net | Gross Carrying | Accumulated | Net | |||||||||||||||
Amount | Amortization | Balance | Amount | Amortization | Balance | |||||||||||||||
Charter/ Cooperation agreements | $ | 2,755,821 | $ | (643,028 | ) | $ | 2,112,793 | $ | 2,755,821 | $ | (608,580 | ) | $ | 2,147,241 | ||||||
Software and licenses | 253,930 | (220,026 | ) | 33,904 | 253,930 | (215,358 | ) | 38,572 | ||||||||||||
Website development | 356,425 | (356,425 | ) | - | 356,425 | (356,425 | ) | - | ||||||||||||
Total definite lived intangible assets | $ | 3,366,176 | $ | (1,219,479 | ) | $ | 2,146,697 | $ | 3,366,176 | $ | (1,180,363 | ) | $ | 2,185,813 | ||||||
Website name | 134,290 | - | 134,290 | 134,290 | - | 134,290 | ||||||||||||||
Total intangible assets | $ | 3,500,466 | $ | (1,219,479 | ) | $ | 2,280,987 | $ | 3,500,466 | $ | (1,180,363 | ) | $ | 2,320,103 | ||||||
We recorded amortization expense related to our finite lived intangible assets of approximately $39,000 and $85,000 during the three months ended March 31, 2015 and 2014, respectively. | ||||||||||||||||||||
The following table outlines the amortization expense for the next five years and thereafter: | ||||||||||||||||||||
Amortization to be | ||||||||||||||||||||
Years ending December 31, | Recognized | |||||||||||||||||||
2015 (9 months) | $ | 117,369 | ||||||||||||||||||
2016 | 154,782 | |||||||||||||||||||
2017 | 138,995 | |||||||||||||||||||
2018 | 138,995 | |||||||||||||||||||
2019 | 138,275 | |||||||||||||||||||
Thereafter | 1,458,281 | |||||||||||||||||||
Total amortization to be recognized | $ | 2,146,697 |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Fair Value Measurements [Text Block] | 7 | Fair Value Measurements | |||||||||||||
Accounting standards require the categorization of financial assets and liabilities, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The various levels of the fair value hierarchy are described as follows: | |||||||||||||||
• | Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access. | ||||||||||||||
• | Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable for substantially the full term of the asset or liability. | ||||||||||||||
• | Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. | ||||||||||||||
Accounting standards require the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. | |||||||||||||||
We review the valuation techniques used to determine if the fair value measurements are still appropriate on an annual basis, and evaluate and adjust the unobservable inputs used in the fair value measurements based on current market conditions and third party information. | |||||||||||||||
The fair value of the warrant liabilities at March 31, 2015 were valued using the Black-Scholes Merton method as an estimate for the Monte Carlos Simulation method which was the method used at the year ended December 31, 2014. The following assumptions were incorporated: | |||||||||||||||
Black Scholes | Monte Carlo | ||||||||||||||
March 31, | December 31, | ||||||||||||||
2015 | 2014 | ||||||||||||||
Risk-free interest rate | 0.73% | 1.04% | |||||||||||||
Expected volatility | 70% | 70% | |||||||||||||
Expected term (years) | 2.42 | 2.67 | |||||||||||||
Expected dividend yield | 0% | 0% | |||||||||||||
The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014, respectively: | |||||||||||||||
31-Mar-15 | |||||||||||||||
Fair Value Measurements | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | ||||||||||||
Liabilities | |||||||||||||||
Warrant liabilities (see Note 10) | $ | - | $ | - | $ | 600,345 | $ | 600,345 | |||||||
31-Dec-14 | |||||||||||||||
Fair Value Measurements | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | ||||||||||||
Liabilities | |||||||||||||||
Warrant liabilities (see Note 10) | $ | - | $ | - | $ | 585,050 | $ | 585,050 | |||||||
The table below reflects the components effecting the change in fair value for the three months ended March 31, 2015: | |||||||||||||||
Level 3 Assets and Liabilities | |||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||
Change in | |||||||||||||||
January 1, | Fair Value | March 31, | |||||||||||||
2015 | Settlements | loss | 2015 | ||||||||||||
Liabilities: | |||||||||||||||
Warrant liabilities (see Note 10) | $ | 585,050 | $ | - | $ | 15,295 | $ | 600,345 | |||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||
Fair Value at | Valuation | Unobservable | |||||||||||||
3/31/15 | Techniques | Inputs | Input | ||||||||||||
Warrant liabilities | $ | 600,345 | Black-Scholes Merton Modell | Risk-free rate of interest | 0.73% | ||||||||||
Expected volatility | 70% | ||||||||||||||
Expected term (years) | 2.42 | ||||||||||||||
Expected dividend yield | 0% | ||||||||||||||
The significant unobservable inputs used in the fair value measurement of the Company’s warrant liability includes the risk free interest rate, expected volatility, expected term and expected dividend yield. Significant increases or decreases in any of those inputs in isolation would result in a significantly different fair value measurement. | |||||||||||||||
The carrying amount of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other payables and convertible promissory note as of March 31, 2015 and December 31, 2014, approximate fair value because of the short maturity of these instruments. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | ||
Mar. 31, 2015 | |||
Related Party Transactions [Text Block] | 8 | Related Party Transactions | |
(a) | $3.0 Million Convertible Note | ||
On May 10, 2012, our Executive Chairman and Principal Executive Officer, Mr. Shane McMahon, made a loan to the Company in the amount of $3,000,000. In consideration for the loan, the Company issued a convertible note to Mr. McMahon in the aggregate principal amount of $3,000,000 (the “Note”). Upon issuance, the conversion price of the Note was equal to the price per share paid for securities by investors in the most recent financing (as of the date of conversion) of equity or equity-linked securities of the Company. Thereafter, on May 21, 2012, at the Company’s request, the Company and Mr. McMahon entered into Amendment No.1 to the Note, pursuant to which the price per share at which the Note, or any convertible Securities into which the Note is converted, may be converted into shares of the Company’s common stock, shall not be less than $4.75, which amount represents the closing bid price of the Company’s common stock on the trading day immediately prior to the date of the Note in accordance with the rules and regulations of The Nasdaq Stock Market, Inc. | |||
On April 12, 2013, our majority shareholders approved an amendment to the Note, as amended on May 21, 2012, to remove the $4.75 floor to the conversion price of the Note and such approval and such amendment was effective following the expiration of the 20 -day period mandated by Rule 14c-2. | |||
Effective May 10, 2013, the Company and Mr. McMahon entered into Amendment No. 3 to the note pursuant to which (i) the Note will mature on November 10, 2013, and (ii) the net proceeds of any financing of equity or equity-linked securities of the Company occurring on or before such date will be used to repay the Note until the full amount of the Note, and all accrued interest on the Note is repaid. | |||
In connection with the Series D Amendment (as discussed below in Note 9), on November 4, 2013, the Company and Mr. McMahon entered into a waiver, pursuant to which (i) Mr. McMahon waived the Company’s obligation to repay the Note on November 10, 2013, (ii) the Company and Mr. McMahon agreed that the principal and all interest on the Note shall become due and payable on the earlier of (a) the closing of the Series E Financing, or (b) if there is no Series E Financing, the date when the Bridge Note (as discussed below in Note 9) is repaid in full or converted into shares of Series D Preferred Stock, and (iii) Mr. McMahon waived the Company’s obligation to repay the Note with the proceeds received from the issuance of the Bridge Note. | |||
Effective on January 31, 2014, the Company and Mr. McMahon entered into Amendment No. 4 to the Note pursuant to which the Note will be, at Mr. McMahon’s option, payable on demand or convertible on demand into shares of Series E Preferred Stock of the Company (the “Series E Preferred Stock”) at a conversion price of $1.75, until December 31, 2014. As a result, the Company recognized a beneficial conversion feature discount calculated as the difference between the Series E Preferred Stock at its intrinsic value, which was the fair value of the common stock at the commitment date for the Series E Preferred Stock investment and the effective conversion price. As such, we recognized a beneficial conversion feature of approximately $2,126,000 which was reflected as interest expense and additional paid-in capital since the note was payable upon demand. | |||
Effective December 30, 2014, the Company and Mr. McMahon entered into Amendment No. 5 to the Note pursuant to which the maturity date of the Note was extended to December 31, 2016. The Note remains payable on demand or convertible on demand into shares of Series E Preferred Stock at a conversion price of $1.75 at Mr. McMahon’s option. | |||
For the three months ended March 31, 2015 and 2014, the Company recorded interest expense of $30,000 and $2,156,000, respectively, related to the Note. | |||
(b) | Revenue and Accounts Receivable | ||
In March 2015, Zhong Hai Video entered into an agreement with C Media Limited (“C Media”) to provide video content services via C Media’s proprietary railway Wi-Fi service platform. For the three months ended March 31, 2015, total revenue recognized amounted to $182,000. As of March 31, 2015, total accounts receivable due from C Media amounted to $182,000. | |||
(c) | Cost of Revenue | ||
Zhong Hai Video paid licensed content fees of approximately $40,000 and $41,000 for the three months ended March 31, 2015 and 2014, respectively, to Hua Cheng, the minority shareholder of Zhong Hai Video. | |||
(d) | Sale of WFOE | ||
Effective March 25, 2014, our wholly-owned subsidiary, was sold to Linkstar Global Investment Limited, whose sole shareholder is a family member of one of our management personnel. Total consideration for the sale of WFOE was US$50,000, which was received in the third quarter of 2014. |
Series_D_and_Series_E_Preferre
Series D and Series E Preferred Stock Financing and Convertible Note | 3 Months Ended | ||
Mar. 31, 2015 | |||
Series D and Series E Preferred Stock Financing and Convertible Note [Text Block] | 9 | Series D and Series E Preferred Stock Financing and Convertible Note | |
(a) | Series D Preferred Stock | ||
On July 5, 2013, we entered into a Series D Preferred Stock Purchase Agreement with C Media, pursuant to which we sold to C Media 2,285,714 shares of Series D 4% Convertible Redeemable Preferred Stock of the Company (the “Series D Preferred Stock”) for $1.75 per share, or a total purchase price of $4,000,000. | |||
The Series D Preferred Stock and any dividends thereon may be converted into shares of our common stock at any time by C Media at a conversion price of $1.75 per share. The dividends on theSeries D Preferred Stock are payable, at our option, in cash, if permissible, or in additional shares of common stock. In the event the Series E Preferred Stock financing transaction is not consummated on or prior to October 31, 2013, the Series D Preferred Stock shall become immediately redeemable at the option of C Media. The redemption may be exercised in whole or in part at $1.75 dollars per share, plus all unpaid and accrued dividends. C Media shall have the right to vote with our stockholders in any matter. C Media shall be entitled to one vote per common stock on an as-converted basis, based on the conversion price of $1.75 per share. Upon any liquidation, dissolution or winding-up of the Company, C Media shall be entitled to receive an amount equal to the then-outstanding Series D Preferred Stock at $1.75 per share, plus any accrued and unpaid dividends, prior to and in preference of holders of common stock or Series A, B or C preferred stock. | |||
Subsequently, the Company exchanged the Series D Preferred Stock to Series E Preferred Stock, effective as of January 31, 2014. Previously recognized beneficial conversion feature of $183,000 related to the Series D Preferred Stock was reversed and the Company recognized approximately $2,651,000 of beneficial conversion feature as a deemed dividend related to the exchange of Series D Preferred Stock to Series E Preferred Stock. Further, in accordance with the terms of the Series D Preferred Stock Purchase Agreement, the Company paid the full cumulative dividends of $92,000 upon the exchange of the Series D Preferred Stock to Series E Preferred Stock. | |||
(b) | $2.0 Million Convertible Note | ||
On November 4, 2013, the Company issued a convertible note to C Media in $2,000,000 principal amount (the “Bridge Note”). The Bridge Note had an annual interest rate of 4% and a maturity date of January 5, 2015. Upon the closing of a financing pursuant to the terms of the Series D Preferred Stock Purchase Agreement by and between the Company and C Media, dated as of July 5, 2013, as amended as of November 4, 2013 (as discussed below) in which C Media would invest funds in the Company in exchange for shares of the Series E Preferred Stock, the principal amount and all unpaid interest of the Bridge Note would be automatically converted into shares of Series E Preferred Stock at a conversion price equal to the per share purchase price paid for the Series E Preferred Stock by C Media. If the Bridge Note was not converted into shares of Series E Preferred Stock within 30 days following the issuance of the Bridge Note (or, in the event that all of the conditions to the Series E Financing contained in the Series E Purchase Agreement (defined below) would have been satisfied except the condition set forth in Section 6.1(i)(ii) of the Series E Purchase Agreement, then, at C Media’s option, by January 31, 2014 (the “Optional Extension Date”)), the principal amount and all accrued and unpaid interest under the Bridge Note would, at C Media’s option, be converted into shares of the Company’s Series D Preferred Stock at a conversion price of $1.75 per share. In connection with the issuance of the Bridge Note, the Company recorded debt issuance costs of approximately $370,000 that was to be amortized over the period of the earliest possible conversion date of January 31, 2014, of which $129,000 was recognized during the three months ended March 31, 2014. The issuance costs included cash paid of $241,936 and the issuance of warrants to the placement agent to purchase 114,285 shares of common stock at $1.75 per share. The fair value of the warrants was calculated using the Black-Scholes model with the following assumptions: expected term of 5 years, expected dividend rate of 0%, volatility of 70% and an interest rate of 1.36% . The exercise price of the warrants was $1.75. The warrants were valued at $128,072 at the date of issuance. | |||
(c) | Amendment to Series D Stock Purchase Agreement | ||
On November 4, 2013, in connection with the issuance of the Bridge Note, the Company and C Media entered into Amendment No. 1 to the Series D Purchase Agreement (the “Series D Amendment”). Pursuant to the original Series D Purchase Agreement, dated July 5, 2013, the Company and C Media agreed, among other things, that each party would act in good faith and with fair dealing to finalize an agreement for the purchase and sale of shares of Series E Preferred Stock pursuant to the terms of a Series E Purchase Agreement on or before October 31, 2013. Pursuant to the Series D Amendment, the parties agreed that each party would act in good faith and with fair dealing to finalize the Series E Purchase Agreement on or before the 30th day following the issuance of the Bridge Note. | |||
Also in connection with the Series D Amendment, C Media executed a waiver and consent with the Company as of October 31, 2013 agreeing, among other things, to waive its right to redeem its Series D Preferred Stock as of October 31, 2013 until the 30th day following the issuance of the Bridge Note. | |||
On December 4, 2013, C Media exercised its extension option which extended such date to January 31, 2014. | |||
(d) | Series E Preferred Stock | ||
On January 31, 2014, the Company entered into a Series E Preferred Stock Purchase Agreement (the “Series E Purchase Agreement”) with C Media and certain other purchasers (collectively, the “Investors”), pursuant to which the Company issued to the Investors an aggregate of 14,285,714 shares of Series E Preferred Stock of the Company for $1.75 per share, or a total purchase price of $25.0 million. Among the 14,285,714 shares of Series E Preferred Stock issued to the Investors, (i) 1,142,857 shares were issued upon the conversion of the Bridge Note issued to C Media in principal amount of $2,000,000, (ii) 10,857,143 shares were issued for an aggregate purchase price of $19 million, and (iii) 2,285,714 shares were issued upon the conversion of 2,285,714 shares of Series D Preferred Stock held by C Media, which constitute all of the issued and outstanding shares of Series D Preferred Stock, into the Series E Preferred Stock pursuant to the Series E Purchase Agreement. In connection with the issuance of the Series E Preferred Stock, we recorded issuance costs of $4,552,347 to additional paid in capital. The issuance costs included cash paid of approximately $2,386,000 and the issuance of warrants to the placement agent to purchase 1,085,714 shares of common stock at $1.75 per share. The fair value of the warrants was calculated using the Black-Scholes model with the following assumptions: expected term of 5 years, expected dividend rate of 0%, volatility of 70% and an interest rate of 1.49% . The exercise price of the warrants was $1.75. The warrants were valued at $2,166,296 at the date of issuance. | |||
In connection with the Series E financing, the Company recognized a beneficial conversion feature discount on the Series E Preferred Stock at its intrinsic value, which was the fair value of the common stock at commitment date for the Series E Preferred Stock investment, less the effective conversion price. As such, the Company recognized a total beneficial conversion feature of approximately $16,402,000 as deemed dividend on Series E Preferred Stock. |
Warrant_Liabilities
Warrant Liabilities | 3 Months Ended | |
Mar. 31, 2015 | ||
Warrant Liabilities [Text Block] | 10 | Warrant Liabilities |
In connection with our August 30, 2012 private financing, we issued 977,063 warrants to investors and the broker. In accordance with FASB ASC 815-40-15-5, Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity’s Own Stock, the warrants have been accounted as derivative liabilities to be re- measured at the end of every reporting period with the change in value reported in the consolidated statement of operations. On August 30, 2012, such warrants were valued at $1,525,000 utilizing a valuation model and were initially recorded as a liability. The warrants are revalued at each year end based on the Monte Carlo valuation. | ||
As of March 31, 2015 and December 31, 2014, the warrant liability was re-valued as disclosed in Note 7, and was adjusted to its current fair value of approximately $600,000 and $585,000, respecitvely, as determined by the Company, resulting in a loss of approximately $15,000 for the three months ended March 31, 2015. There were no warrants exercised during three months ended March 31, 2015. |
ShareBased_Payments
Share-Based Payments | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Share-Based Payments [Text Block] | 11 | Share-Based Payments | ||||||||||||
As of March 31, 2015, the Company had 1,764,447 options and 2,191,487 warrants outstanding to purchase shares of our common stock. | ||||||||||||||
The Company awards common stock and stock options to employees and directors as compensation for their services, and accounts for its stock option awards to employees and directors pursuant to the provisions of ASC 718, Stock Compensation . The fair value of each option award is estimated on the date of grant using the Black-Scholes Merton valuation model. The Company recognizes the fair value of each option as compensation expense ratably using the straight-line attribution method over the service period, which is generally the vesting period. | ||||||||||||||
Total share based payments expense recorded by the Company during the three months ended March 31, 2015 and 2014 is as follows: | ||||||||||||||
March 31, | March 31, | |||||||||||||
2015 | 2014 | |||||||||||||
Employees and directors share-based payments | $ | 404,000 | $ | 139,000 | ||||||||||
(a) | Stock Options | |||||||||||||
Effective as of December 3, 2010, our Board of Directors approved the YOU On Demand Holdings, Inc. 2010 Stock Incentive Plan (“the Plan”) pursuant to which options or other similar securities may be granted. The maximum aggregate number of shares of our common stock that may be issued under the Plan is 4,000,000 shares. As of March 31, 2015, options available for issuance are 2,039,076 shares. | ||||||||||||||
Stock option activity for the three months ended March 31, 2015 is summarized as follows: | ||||||||||||||
Weighted Average | ||||||||||||||
Remaining | Aggregated | |||||||||||||
Options | Weighted Average | Contractual Life | Intrinsic | |||||||||||
Outstanding | Exercise Price | (Years) | Value | |||||||||||
Outstanding at January 1, 2015 | 1,800,226 | $ | 2.73 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Expired | (4,724 | ) | 1.84 | |||||||||||
Forfeited | (31,055 | ) | 1.69 | |||||||||||
Outstanding at March 31, 2015 | 1,764,447 | $ | 2.75 | 6.27 | $ | 207,566 | ||||||||
Vested and expected to vest as of March 31, 2015 | 1,764,447 | 2.75 | 6.27 | 207,566 | ||||||||||
Options exercisable at March 31, 2015 (vested) | 1,682,348 | $ | 2.77 | 6.19 | $ | 178,046 | ||||||||
The weighted average grant-date fair value of options granted during the three months ended March 31, 2014 was $2.23. The total intrinsic value of options exercised during the three months ended March 31, 2014, was $1,577. | ||||||||||||||
As of March 31, 2015, approximately $163,000 of total unrecognized compensation expense related to non-vested share options is expected to be recognized over a weighted average period of approximately 1.90 years. The total fair value of shares vested during the three months ended March 31, 2015 and 2014 was approximately $214,000 and $139,000, respectively. | ||||||||||||||
(b) | Warrants | |||||||||||||
In connection with the Company’s financings, the Warner Brother Agreement and the service agreements, the Company issued warrants to investors and service providers to purchase common stock of the Company. | ||||||||||||||
As of March 31, 2015, the weighted average exercise price of the warrants was $2.20 and the weighted average remaining life was 3.14 years. The following table outlines the warrants outstanding and exercisable as of March 31, 2015 and December 31, 2014: | ||||||||||||||
March 31, | December 31, | |||||||||||||
2015 | 2014 | |||||||||||||
Number of | Number of | |||||||||||||
Warrants | Warrants | Exercise | Expiration | |||||||||||
Warrants Outstanding | Outstanding and | Outstanding and | Price | Date | ||||||||||
Exercisable | Exercisable | |||||||||||||
May 2011 Warner Brothers Warrants | 200,000 | 200,000 | $ | 6.6 | 5/11/16 | |||||||||
2011 Service Agreement Warrants | 26,667 | 26,667 | $ | 7.2 | 6/15/16 | |||||||||
2012 August Financing Warrants (i) | 536,250 | 536,250 | $ | 1.5 | 8/30/17 | |||||||||
2013 Broker Warrants (Series D Financing) | 228,571 | 228,571 | $ | 1.75 | 7/5/18 | |||||||||
2013 Broker Warrants (Convertible Note) | 114,285 | 114,285 | $ | 1.75 | 11/4/18 | |||||||||
2014 Broker Warrants (Series E Financing) | 1,085,714 | 1,085,714 | $ | 1.75 | 1/31/19 | |||||||||
2,191,487 | 2,191,487 | |||||||||||||
(i) | The warrants are classified as derivate liabilities in Note 10 |
Net_Loss_Per_Common_Share
Net Loss Per Common Share | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Net Loss Per Common Share [Text Block] | 12 | Net Loss Per Common Share | ||||||
Basic net loss per common share attributable to YOU On Demand shareholders is calculated by dividing the net loss attributable to YOU On Demand shareholders by the weighted average number of outstanding common shares during the applicable period. Diluted net loss per share equals basic net loss per share because the effect of securities convertible into common shares is anti-dilutive. | ||||||||
For the three months ended March 31, 2015 and 2014, the number of securities convertible into common shares not included in diluted loss per common share because the effect would have been anti-dilutive consists of the following: | ||||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Warrants | 2,191,487 | 2,507,300 | ||||||
Options | 1,764,447 | 1,896,854 | ||||||
Series A Preferred Stock | 933,333 | 933,333 | ||||||
Series C Preferred Stock | - | 140,000 | ||||||
Series E Preferred Stock | 7,326,426 | 14,285,714 | ||||||
Convertible promissory notes | 1,912,673 | 1,844,102 | ||||||
Total | 14,128,366 | 21,607,303 | ||||||
The Company has reserved its authorized but unissued common stock for possible future issuance in connection with the following: | ||||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Exercise of stock warrants | 2,191,487 | 2,507,300 | ||||||
Exercise and future grants of stock options | 3,986,074 | 4,023,455 | ||||||
Conversion of preferred stock | 8,259,759 | 15,359,047 | ||||||
Contingent issuable shares in connection with YOD Hong Kong acquisition | - | 245,274 | ||||||
Issuable shares from conversion of promissory notes payable | 1,912,673 | 1,844,102 | ||||||
Total | 16,349,993 | 23,979,178 |
Income_Taxes
Income Taxes | 3 Months Ended | |
Mar. 31, 2015 | ||
Income Taxes [Text Block] | 13 | Income Taxes |
As of March 31, 2015, the Company had approximately $22.1 million of the U.S domestic cumulative tax loss carryforwards (which excludes the NOL carryforwards of approximately $1.7 million because of the uncertainty of the position being sustained) and approximately $11.4 million of the foreign cumulative tax loss carryforwards, which may be available to reduce future income tax liabilities in certain jurisdictions. These U.S. and foreign tax loss carryforwards will expire beginning year 2028 through 2034 and year 2015 to year 2019, respectively. We have established a 100% valuation allowance against our net deferred tax assets due to our history of pre-tax losses and the likelihood that the deferred tax assets will not be realizable, therefore a net deferred tax liability arises from one jurisdiction. The valuation allowance increased approximately $1.3 million during the three months ended March 31, 2015. | ||
We are not aware of any unrecorded tax liabilities which would impact our financial position or our results of operations. |
Contingencies_and_Commitments
Contingencies and Commitments | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Contingencies and Commitments [Text Block] | 14 | Contingencies and Commitments | |||
(a) | Severance Commitment | ||||
The Company has employment agreements with certain employees that provide severance payments upon termination of employment under certain circumstances, as defined in the applicable agreements. As of March 31, 2015, the Company's potential minimum cash obligation to these employees was approximately $1,328,000. | |||||
(b) | Operating Lease Commitment | ||||
The Company is committed to paying leased property costs related to our offices in New York and China through 2017 as follows: | |||||
Leased Property | |||||
Years ending December 31, | Costs | ||||
2015 (9 months) | $ | 605,585 | |||
2016 | 690,540 | ||||
2017 | 57,725 | ||||
Total | $ | 1,353,850 | |||
(c) | Licensed Content Commitment | ||||
The Company is committed to paying content costs through 2016 as follows: | |||||
Years ending December 31, | Content Costs | ||||
2015 (9 months) | $ | 3,294,000 | |||
2016 | 2,835,000 | ||||
Total | $ | 6,129,000 | |||
(d) | Lawsuits and Legal Proceedings | ||||
From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results. |
Concentration_Credit_and_Other
Concentration, Credit and Other Risks | 3 Months Ended | ||
Mar. 31, 2015 | |||
Concentration, Credit and Other Risks [Text Block] | 15 | Concentration, Credit and Other Risks | |
(a) | PRC Regulations | ||
The PRC market in which the Company operates poses certain macro-economic and regulatory risks and uncertainties. These uncertainties extend to the ability of the Company to conduct wireless telecommunication services through contractual arrangements in the PRC since the industry remains highly regulated. The Company conducts all of its operations in China through its Zhonghai Video, which is consolidated in the Company's financial statements as a result of a series of contractual arrangements enacted among YOD WFOE, Sinotop Beijing as the parent company of Zhonghai Video and the legal shareholder of Sinotop Beijing. The Company believes that these contractual arrangements are in compliance with PRC law and are legally enforceable. If Sinotop Beijing or its legal shareholder fails to perform the obligations under the contractual arrangements or any dispute relating to these contracts remains unresolved, YOD WFOE or YOD HK can enforce its rights under the VIE contracts through the operations of PRC law and courts. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements. In particular, the interpretation and enforcement of these laws, rules and regulations involve uncertainties. If YOD WFOE had direct ownership of Sinotop Beijing, it would be able to exercise its rights as a shareholder to effect changes in the board of directors of Sinotop Beijing, which in turn could effect changes at the management level, subject to any applicable fiduciary obligations. However, under the current contractual arrangements, the Company relies on Sinotop Beijing and its legal shareholder to perform their contractual obligations to exercise effective control. | |||
In addition, the telecommunications, information and media industries remain highly regulated. Restrictions are currently in place and are unclear with respect to which segments of these industries foreign owned entities, like YOD WFOE, may operate. The PRC government may issue from time to time new laws or new interpretations on existing laws to regulate areas such as telecommunications, information and media, some of which are not published on a timely basis or may have retroactive effect. Administrative and court proceedings in China may also be protracted, resulting in substantial costs and diversion of resources and management attention. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, and the Company's legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Company's ability to conduct business in the PRC. | |||
(b) | Major Customers | ||
The Company relies on agreements with distribution partners, including digital cable operators, IPTV operators, OTT streaming operators and mobile smartphone manufacturers and operators, during the course of its business. A distribution partner that individually generates more than 10% of the Company’s revenue is considered a major customer. | |||
For the three months ended March 31, 2015, four customers individually accounted for more than 10% of the Company’s revenue. Four customers individually accounted for 10% of the Company’s net accounts receivables as of March 31, 2015. | |||
For the three months ended March 31, 2014, three customers individually accounted for more than 10% of the Company’s revenue. Two customers individually accounted for 10% of the Company’s net accounts receivables as of March 31, 2014. | |||
(c) | Major Suppliers | ||
The Company relies on agreements with studio content partners to acquire video contents. A content partner that accounts for more than 10% of the Company’s cost of revenues is considered a major supplier. | |||
For the three months ended March 31, 2015, four suppliers individually accounted for more than 10% of the Company’s cost of revenues. Two suppliers individually accounted for 10% of the Company’s accounts payable as of March 31, 2015. | |||
For the three months ended March 31, 2014, four suppliers individually accounted for more than 10% of the Company’s cost of revenues. Two suppliers individually accounted for 10% of the Company’s accounts payable as of March 31, 2014. | |||
(d) | Concentration of Credit Risks | ||
Financial instruments that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, accounts receivable and other receivables. As of March 31, 2015 and 2014, the Company’s cash and cash equivalents were held by financial institutions located in the PRC, Hong Kong and the United States that management believes are of high-credit ratings and quality. Accounts receivable are typically unsecured and are mainly derived from revenues from the Company’s VOD content distribution partners. The risk with respect to accounts receivable is mitigated by regular credit evaluations that the Company performs on its distribution partners and its ongoing monitoring of outstanding balances. | |||
(e) | Foreign Currency Risks | ||
A majority of the Company’s operating transactions are denominated in RMB and a significant portion of the Company’s assets and liabilities is denominated in RMB. RMB is not freely convertible into foreign currencies. The value of the RMB is subject to changes in the central government policies and to international economic and political developments. In the PRC, certain foreign exchange transactions are required by laws to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to complete the remittance. |
Defined_Contribution_Plan
Defined Contribution Plan | 3 Months Ended | |
Mar. 31, 2015 | ||
Defined Contribution Plan [Text Block] | 16 | Defined Contribution Plan |
During 2011, the Company began sponsoring a 401(k) defined contribution plan ("401(k) Plan") that provides for a 100% employer matching contribution of the first 3% and a 50% employer matching contribution of each additional percent contributed by an employee up to 5% of each employee’s pay. Employees become fully vested in employer matching contributions after six months of employment. Company 401(k) matching contributions were approximately $5,000 and $10,000 for the three months ended March 31, 2015 and 2014, respectively. |
Subsequent_Events
Subsequent Events | 3 Months Ended | |
Mar. 31, 2015 | ||
Subsequent Events [Text Block] | 17 | Subsequent Event |
Management evaluated subsequent events after March 31, 2015 through the latest practicable date, and concluded that no subsequent event has occurred that would require recognition or disclosure in the unaudited consolidated financial statements. |
VIE_Structure_and_Arrangements1
VIE Structure and Arrangements (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Statement of Financial Position [Table Text Block] | March 31, | December 31, | ||||||
2015 | 2014 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 252,731 | $ | 506,525 | ||||
Accounts receivable, net | 1,775,563 | 1,091,076 | ||||||
Licensed content, current | 1,180,509 | 1,041,609 | ||||||
Prepaid expenses | 90,205 | 105,918 | ||||||
Other current assets | 15,781 | 12,811 | ||||||
Intercompany receivables due from the Company's subsidiaries (i) | 572,709 | 572,192 | ||||||
Total current assets | 3,887,498 | 3,330,131 | ||||||
Property and equipment, net | 275,162 | 297,898 | ||||||
Licensed content, non-current | 30,567 | 35,648 | ||||||
Intangible assets, net | 4,993 | 5,291 | ||||||
Long-term equity investments | 818,225 | 850,054 | ||||||
Other non-current assets | 272,903 | 272,657 | ||||||
Total assets | $ | 5,289,348 | $ | 4,791,679 | ||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 10,487 | $ | 8,598 | ||||
Deferred revenue | 129,873 | 13,431 | ||||||
Accrued expenses and other liabilities | 650,844 | 573,620 | ||||||
Accrued license fees | 607,571 | 348,007 | ||||||
Intercompany payables due to the Company's subsidiaries (i) | 11,886,998 | 11,200,536 | ||||||
Total current liabilities | 13,285,773 | 12,144,192 | ||||||
Total liabilities | $ | 13,285,773 | $ | 12,144,192 | ||||
Statement of Operation [Table Text Block] | Three Months Ended | |||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Net revenue | $ | 1,027,928 | $ | 137,681 | ||||
Net loss | $ | (633,487 | ) | $ | (1,179,744 | ) | ||
Statement of Cash Flow [Table Text Block] | Three Months Ended | |||||||
March 31, | March 31, | |||||||
2015 | 2014 | |||||||
Net cash used in operating activities | $ | (233,114 | ) | $ | (779,238 | ) | ||
Net cash used in investing activities | $ | (20,693 | ) | $ | (1,573 | ) | ||
Net cash provided by financing activities | $ | - | $ | - |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property and Equipment [Table Text Block] | March 31, | December 31, | ||||||
2015 | 2014 | |||||||
Furniture and office equipment | $ | 978,672 | $ | 959,080 | ||||
Leasehold improvements | 190,895 | 190,722 | ||||||
Total property and equipment | 1,169,567 | 1,149,802 | ||||||
Less: accumulated depreciation | (879,680 | ) | (829,131 | ) | ||||
Net carrying value | $ | 289,887 | $ | 320,671 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||||
Gross Carrying | Accumulated | Net | Gross Carrying | Accumulated | Net | |||||||||||||||
Amount | Amortization | Balance | Amount | Amortization | Balance | |||||||||||||||
Charter/ Cooperation agreements | $ | 2,755,821 | $ | (643,028 | ) | $ | 2,112,793 | $ | 2,755,821 | $ | (608,580 | ) | $ | 2,147,241 | ||||||
Software and licenses | 253,930 | (220,026 | ) | 33,904 | 253,930 | (215,358 | ) | 38,572 | ||||||||||||
Website development | 356,425 | (356,425 | ) | - | 356,425 | (356,425 | ) | - | ||||||||||||
Total definite lived intangible assets | $ | 3,366,176 | $ | (1,219,479 | ) | $ | 2,146,697 | $ | 3,366,176 | $ | (1,180,363 | ) | $ | 2,185,813 | ||||||
Website name | 134,290 | - | 134,290 | 134,290 | - | 134,290 | ||||||||||||||
Total intangible assets | $ | 3,500,466 | $ | (1,219,479 | ) | $ | 2,280,987 | $ | 3,500,466 | $ | (1,180,363 | ) | $ | 2,320,103 | ||||||
Amortization Expense [Table Text Block] | Amortization to be | |||||||||||||||||||
Years ending December 31, | Recognized | |||||||||||||||||||
2015 (9 months) | $ | 117,369 | ||||||||||||||||||
2016 | 154,782 | |||||||||||||||||||
2017 | 138,995 | |||||||||||||||||||
2018 | 138,995 | |||||||||||||||||||
2019 | 138,275 | |||||||||||||||||||
Thereafter | 1,458,281 | |||||||||||||||||||
Total amortization to be recognized | $ | 2,146,697 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | Dec. 31, 2014 | ||||||||||||||||||||||||||||
Fair Value of the Warrant Liabilities [Table Text Block] | Black Scholes | Monte Carlo | |||||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Risk-free interest rate | 0.73% | 1.04% | |||||||||||||||||||||||||||
Expected volatility | 70% | 70% | |||||||||||||||||||||||||||
Expected term (years) | 2.42 | 2.67 | |||||||||||||||||||||||||||
Expected dividend yield | 0% | 0% | |||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block] | 31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | Level 1 | Level 2 | Level 3 | Total Fair Value | ||||||||||||||||||||||
Liabilities | Liabilities | ||||||||||||||||||||||||||||
Warrant liabilities (see Note 10) | $ | - | $ | - | $ | 600,345 | $ | 600,345 | Warrant liabilities (see Note 10) | $ | - | $ | - | $ | 585,050 | $ | 585,050 | ||||||||||||
Components Effecting Change in Fair Value [Table Text Block] | Level 3 Assets and Liabilities | ||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Change in | |||||||||||||||||||||||||||||
January 1, | Fair Value | March 31, | |||||||||||||||||||||||||||
2015 | Settlements | loss | 2015 | ||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Warrant liabilities (see Note 10) | $ | 585,050 | $ | - | $ | 15,295 | $ | 600,345 | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements [Table Text Block] | Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Fair Value at | Valuation | Unobservable | |||||||||||||||||||||||||||
3/31/15 | Techniques | Inputs | Input | ||||||||||||||||||||||||||
Warrant liabilities | $ | 600,345 | Black-Scholes Merton Modell | Risk-free rate of interest | 0.73% | ||||||||||||||||||||||||
Expected volatility | 70% | ||||||||||||||||||||||||||||
Expected term (years) | 2.42 | ||||||||||||||||||||||||||||
Expected dividend yield | 0% |
ShareBased_Payments_Tables
Share-Based Payments (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Share Based Payments Expense [Table Text Block] | March 31, | March 31, | ||||||||||||
2015 | 2014 | |||||||||||||
Employees and directors share-based payments | $ | 404,000 | $ | 139,000 | ||||||||||
Stock Option Activity [Table Text Block] | Weighted Average | |||||||||||||
Remaining | Aggregated | |||||||||||||
Options | Weighted Average | Contractual Life | Intrinsic | |||||||||||
Outstanding | Exercise Price | (Years) | Value | |||||||||||
Outstanding at January 1, 2015 | 1,800,226 | $ | 2.73 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Expired | (4,724 | ) | 1.84 | |||||||||||
Forfeited | (31,055 | ) | 1.69 | |||||||||||
Outstanding at March 31, 2015 | 1,764,447 | $ | 2.75 | 6.27 | $ | 207,566 | ||||||||
Vested and expected to vest as of March 31, 2015 | 1,764,447 | 2.75 | 6.27 | 207,566 | ||||||||||
Options exercisable at March 31, 2015 (vested) | 1,682,348 | $ | 2.77 | 6.19 | $ | 178,046 | ||||||||
Warrants Outstanding [Table Text Block] | March 31, | December 31, | ||||||||||||
2015 | 2014 | |||||||||||||
Number of | Number of | |||||||||||||
Warrants | Warrants | Exercise | Expiration | |||||||||||
Warrants Outstanding | Outstanding and | Outstanding and | Price | Date | ||||||||||
Exercisable | Exercisable | |||||||||||||
May 2011 Warner Brothers Warrants | 200,000 | 200,000 | $ | 6.6 | 5/11/16 | |||||||||
2011 Service Agreement Warrants | 26,667 | 26,667 | $ | 7.2 | 6/15/16 | |||||||||
2012 August Financing Warrants (i) | 536,250 | 536,250 | $ | 1.5 | 8/30/17 | |||||||||
2013 Broker Warrants (Series D Financing) | 228,571 | 228,571 | $ | 1.75 | 7/5/18 | |||||||||
2013 Broker Warrants (Convertible Note) | 114,285 | 114,285 | $ | 1.75 | 11/4/18 | |||||||||
2014 Broker Warrants (Series E Financing) | 1,085,714 | 1,085,714 | $ | 1.75 | 1/31/19 | |||||||||
2,191,487 | 2,191,487 |
Net_Loss_Per_Common_Share_Tabl
Net Loss Per Common Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | March 31, | March 31, | ||||||
2015 | 2014 | |||||||
Warrants | 2,191,487 | 2,507,300 | ||||||
Options | 1,764,447 | 1,896,854 | ||||||
Series A Preferred Stock | 933,333 | 933,333 | ||||||
Series C Preferred Stock | - | 140,000 | ||||||
Series E Preferred Stock | 7,326,426 | 14,285,714 | ||||||
Convertible promissory notes | 1,912,673 | 1,844,102 | ||||||
Total | 14,128,366 | 21,607,303 | ||||||
Unissued Common Stock for Possible Future Issuance [Table Text Block] | March 31, | March 31, | ||||||
2015 | 2014 | |||||||
Exercise of stock warrants | 2,191,487 | 2,507,300 | ||||||
Exercise and future grants of stock options | 3,986,074 | 4,023,455 | ||||||
Conversion of preferred stock | 8,259,759 | 15,359,047 | ||||||
Contingent issuable shares in connection with YOD Hong Kong acquisition | - | 245,274 | ||||||
Issuable shares from conversion of promissory notes payable | 1,912,673 | 1,844,102 | ||||||
Total | 16,349,993 | 23,979,178 |
Contingencies_and_Commitments_
Contingencies and Commitments (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Leased Property Costs [Table Text Block] | Leased Property | ||||
Years ending December 31, | Costs | ||||
2015 (9 months) | $ | 605,585 | |||
2016 | 690,540 | ||||
2017 | 57,725 | ||||
Total | $ | 1,353,850 | |||
Leased Content Commitment [Table Text Block] | Years ending December 31, | Content Costs | |||
2015 (9 months) | $ | 3,294,000 | |||
2016 | 2,835,000 | ||||
Total | $ | 6,129,000 |
Going_Concern_and_Managements_1
Going Concern and Management's Plans (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Going Concern And Management's Plans 1 | $2.90 |
Going Concern And Management's Plans 2 | 2.4 |
Going Concern And Management's Plans 3 | 81.2 |
Going Concern And Management's Plans 4 | 19 |
Going Concern And Management's Plans 5 | 50 |
Going Concern And Management's Plans 6 | $47.30 |
VIE_Structure_and_Arrangements2
VIE Structure and Arrangements (Narrative) (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 |
USD ($) | CNY | |
D | ||
Y | ||
Vie Structure And Arrangements 1 | 100.00% | 100.00% |
Vie Structure And Arrangements 2 | 20 | 20 |
Vie Structure And Arrangements 3 | 30 | 30 |
Vie Structure And Arrangements 4 | 17 | |
Vie Structure And Arrangements 5 | $2.60 |
Sales_of_WFOE_and_Dissolution_1
Sales of WFOE and Dissolution of Jinan Zhong Kuan (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Sales Of Wfoe And Dissolution Of Jinan Zhong Kuan 1 | $50,000 |
Property_and_Equipment_Narrati
Property and Equipment (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Property And Equipment 1 | $51,000 |
Property And Equipment 2 | $65,000 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Intangible Assets 1 | $39,000 |
Intangible Assets 2 | $85,000 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Related Party Transactions 1 | $3,000,000 |
Related Party Transactions 2 | 3,000,000 |
Related Party Transactions 3 | 3,000,000 |
Related Party Transactions 4 | 4.75 |
Related Party Transactions 5 | 4.75 |
Related Party Transactions 6 | 20 |
Related Party Transactions 7 | 1.75 |
Related Party Transactions 8 | 2,126,000 |
Related Party Transactions 9 | 1.75 |
Related Party Transactions 10 | 30,000 |
Related Party Transactions 11 | 2,156,000 |
Related Party Transactions 12 | 182,000 |
Related Party Transactions 13 | 182,000 |
Related Party Transactions 14 | 40,000 |
Related Party Transactions 15 | 41,000 |
Related Party Transactions 16 | $50,000 |
Series_D_and_Series_E_Preferre1
Series D and Series E Preferred Stock Financing and Convertible Note (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Y | |
D | |
Series D And Series E Preferred Stock Financing And Convertible Note 1 | 2,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 2 | 4.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 3 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 4 | $4,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 5 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 6 | 1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 7 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 8 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 9 | 183,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 10 | 2,651,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 11 | 92,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 12 | 2,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 13 | 2,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 14 | 4.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 15 | 30 |
Series D And Series E Preferred Stock Financing And Convertible Note 16 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 17 | 370,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 18 | 129,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 19 | 241,936 |
Series D And Series E Preferred Stock Financing And Convertible Note 20 | 114,285 |
Series D And Series E Preferred Stock Financing And Convertible Note 21 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 22 | 5 |
Series D And Series E Preferred Stock Financing And Convertible Note 23 | 0.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 24 | 70.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 25 | 1.36% |
Series D And Series E Preferred Stock Financing And Convertible Note 26 | 1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 27 | 128,072 |
Series D And Series E Preferred Stock Financing And Convertible Note 28 | 14,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 29 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 30 | 25,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 31 | 14,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 32 | 1,142,857 |
Series D And Series E Preferred Stock Financing And Convertible Note 33 | 2,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 34 | 10,857,143 |
Series D And Series E Preferred Stock Financing And Convertible Note 35 | 19,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 36 | 2,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 37 | 2,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 38 | 4,552,347 |
Series D And Series E Preferred Stock Financing And Convertible Note 39 | 2,386,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 40 | 1,085,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 41 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 42 | 5 |
Series D And Series E Preferred Stock Financing And Convertible Note 43 | 0.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 44 | 70.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 45 | 1.49% |
Series D And Series E Preferred Stock Financing And Convertible Note 46 | 1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 47 | 2,166,296 |
Series D And Series E Preferred Stock Financing And Convertible Note 48 | $16,402,000 |
Warrant_Liabilities_Narrative_
Warrant Liabilities (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Warrant Liabilities 1 | 977,063 |
Warrant Liabilities 2 | $1,525,000 |
Warrant Liabilities 3 | 600,000 |
Warrant Liabilities 4 | 585,000 |
Warrant Liabilities 5 | $15,000 |
ShareBased_Payments_Narrative_
Share-Based Payments (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Y | |
Share-based Payments 1 | 1,764,447 |
Share-based Payments 2 | 2,191,487 |
Share-based Payments 3 | 4,000,000 |
Share-based Payments 4 | 2,039,076 |
Share-based Payments 5 | $2.23 |
Share-based Payments 6 | 1,577 |
Share-based Payments 7 | 163,000 |
Share-based Payments 8 | 1.9 |
Share-based Payments 9 | 214,000 |
Share-based Payments 10 | 139,000 |
Share-based Payments 11 | $2.20 |
Share-based Payments 12 | 3.14 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Income Taxes 1 | $22.10 |
Income Taxes 2 | 1.7 |
Income Taxes 3 | 11.4 |
Income Taxes 4 | 100.00% |
Income Taxes 5 | $1.30 |
Contingencies_and_Commitments_1
Contingencies and Commitments (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Contingencies And Commitments 1 | $1,328,000 |
Concentration_Credit_and_Other1
Concentration, Credit and Other Risks (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Concentration, Credit And Other Risks 1 | 10.00% |
Concentration, Credit And Other Risks 2 | 10.00% |
Concentration, Credit And Other Risks 3 | 10.00% |
Concentration, Credit And Other Risks 4 | 10.00% |
Concentration, Credit And Other Risks 5 | 10.00% |
Concentration, Credit And Other Risks 6 | 10.00% |
Concentration, Credit And Other Risks 7 | 10.00% |
Concentration, Credit And Other Risks 8 | 10.00% |
Concentration, Credit And Other Risks 9 | 10.00% |
Concentration, Credit And Other Risks 10 | 10.00% |
Defined_Contribution_Plan_Narr
Defined Contribution Plan (Narrative) (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Defined Contribution Plan 1 | 100.00% |
Defined Contribution Plan 2 | 3.00% |
Defined Contribution Plan 3 | 50.00% |
Defined Contribution Plan 4 | 5.00% |
Defined Contribution Plan 5 | $5,000 |
Defined Contribution Plan 6 | $10,000 |
Statement_of_Financial_Positio
Statement of Financial Position (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Vie Structure And Arrangements Statement Of Financial Position 1 | $252,731 |
Vie Structure And Arrangements Statement Of Financial Position 2 | 506,525 |
Vie Structure And Arrangements Statement Of Financial Position 3 | 1,775,563 |
Vie Structure And Arrangements Statement Of Financial Position 4 | 1,091,076 |
Vie Structure And Arrangements Statement Of Financial Position 5 | 1,180,509 |
Vie Structure And Arrangements Statement Of Financial Position 6 | 1,041,609 |
Vie Structure And Arrangements Statement Of Financial Position 7 | 90,205 |
Vie Structure And Arrangements Statement Of Financial Position 8 | 105,918 |
Vie Structure And Arrangements Statement Of Financial Position 9 | 15,781 |
Vie Structure And Arrangements Statement Of Financial Position 10 | 12,811 |
Vie Structure And Arrangements Statement Of Financial Position 11 | 572,709 |
Vie Structure And Arrangements Statement Of Financial Position 12 | 572,192 |
Vie Structure And Arrangements Statement Of Financial Position 13 | 3,887,498 |
Vie Structure And Arrangements Statement Of Financial Position 14 | 3,330,131 |
Vie Structure And Arrangements Statement Of Financial Position 15 | 275,162 |
Vie Structure And Arrangements Statement Of Financial Position 16 | 297,898 |
Vie Structure And Arrangements Statement Of Financial Position 17 | 30,567 |
Vie Structure And Arrangements Statement Of Financial Position 18 | 35,648 |
Vie Structure And Arrangements Statement Of Financial Position 19 | 4,993 |
Vie Structure And Arrangements Statement Of Financial Position 20 | 5,291 |
Vie Structure And Arrangements Statement Of Financial Position 21 | 818,225 |
Vie Structure And Arrangements Statement Of Financial Position 22 | 850,054 |
Vie Structure And Arrangements Statement Of Financial Position 23 | 272,903 |
Vie Structure And Arrangements Statement Of Financial Position 24 | 272,657 |
Vie Structure And Arrangements Statement Of Financial Position 25 | 5,289,348 |
Vie Structure And Arrangements Statement Of Financial Position 26 | 4,791,679 |
Vie Structure And Arrangements Statement Of Financial Position 27 | 10,487 |
Vie Structure And Arrangements Statement Of Financial Position 28 | 8,598 |
Vie Structure And Arrangements Statement Of Financial Position 29 | 129,873 |
Vie Structure And Arrangements Statement Of Financial Position 30 | 13,431 |
Vie Structure And Arrangements Statement Of Financial Position 31 | 650,844 |
Vie Structure And Arrangements Statement Of Financial Position 32 | 573,620 |
Vie Structure And Arrangements Statement Of Financial Position 33 | 607,571 |
Vie Structure And Arrangements Statement Of Financial Position 34 | 348,007 |
Vie Structure And Arrangements Statement Of Financial Position 35 | 11,886,998 |
Vie Structure And Arrangements Statement Of Financial Position 36 | 11,200,536 |
Vie Structure And Arrangements Statement Of Financial Position 37 | 13,285,773 |
Vie Structure And Arrangements Statement Of Financial Position 38 | 12,144,192 |
Vie Structure And Arrangements Statement Of Financial Position 39 | 13,285,773 |
Vie Structure And Arrangements Statement Of Financial Position 40 | $12,144,192 |
Statement_of_Operation_Details
Statement of Operation (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Vie Structure And Arrangements Statement Of Operation 1 | $1,027,928 |
Vie Structure And Arrangements Statement Of Operation 2 | 137,681 |
Vie Structure And Arrangements Statement Of Operation 3 | -633,487 |
Vie Structure And Arrangements Statement Of Operation 4 | ($1,179,744) |
Statement_of_Cash_Flow_Details
Statement of Cash Flow (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Vie Structure And Arrangements Statement Of Cash Flow 1 | ($233,114) |
Vie Structure And Arrangements Statement Of Cash Flow 2 | -779,238 |
Vie Structure And Arrangements Statement Of Cash Flow 3 | -20,693 |
Vie Structure And Arrangements Statement Of Cash Flow 4 | -1,573 |
Vie Structure And Arrangements Statement Of Cash Flow 5 | 0 |
Vie Structure And Arrangements Statement Of Cash Flow 6 | $0 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Property And Equipment Property And Equipment 1 | $978,672 |
Property And Equipment Property And Equipment 2 | 959,080 |
Property And Equipment Property And Equipment 3 | 190,895 |
Property And Equipment Property And Equipment 4 | 190,722 |
Property And Equipment Property And Equipment 5 | 1,169,567 |
Property And Equipment Property And Equipment 6 | 1,149,802 |
Property And Equipment Property And Equipment 7 | -879,680 |
Property And Equipment Property And Equipment 8 | -829,131 |
Property And Equipment Property And Equipment 9 | 289,887 |
Property And Equipment Property And Equipment 10 | $320,671 |
Schedule_of_Intangible_Assets_
Schedule of Intangible Assets and Goodwill (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Intangible Assets Schedule Of Intangible Assets And Goodwill 1 | $2,755,821 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 2 | -643,028 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 3 | 2,112,793 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 4 | 2,755,821 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 5 | -608,580 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 6 | 2,147,241 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 7 | 253,930 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 8 | -220,026 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 9 | 33,904 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 10 | 253,930 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 11 | -215,358 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 12 | 38,572 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 13 | 356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 14 | -356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 15 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 16 | 356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 17 | -356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 18 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 19 | 3,366,176 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 20 | -1,219,479 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 21 | 2,146,697 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 22 | 3,366,176 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 23 | -1,180,363 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 24 | 2,185,813 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 25 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 26 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 27 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 28 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 29 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 30 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 31 | 3,500,466 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 32 | -1,219,479 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 33 | 2,280,987 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 34 | 3,500,466 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 35 | -1,180,363 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 36 | $2,320,103 |
Amortization_Expense_Details
Amortization Expense (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Intangible Assets Amortization Expense 1 | $117,369 |
Intangible Assets Amortization Expense 2 | 154,782 |
Intangible Assets Amortization Expense 3 | 138,995 |
Intangible Assets Amortization Expense 4 | 138,995 |
Intangible Assets Amortization Expense 5 | 138,275 |
Intangible Assets Amortization Expense 6 | 1,458,281 |
Intangible Assets Amortization Expense 7 | $2,146,697 |
Fair_Value_of_the_Warrant_Liab
Fair Value of the Warrant Liabilities (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Measurements Fair Value Of The Warrant Liabilities 1 | 0.73% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 2 | 1.04% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 3 | 70.00% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 4 | 70.00% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 5 | 2.42 |
Fair Value Measurements Fair Value Of The Warrant Liabilities 6 | 2.67 |
Fair Value Measurements Fair Value Of The Warrant Liabilities 7 | 0.00% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 8 | 0.00% |
Assets_and_Liabilities_Measure
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 1 | $0 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 2 | 0 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 3 | 600,345 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 4 | 600,345 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 1 | 0 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 2 | 0 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 3 | 585,050 |
Fair Value Measurements Assets And Liabilities Measured At Fair Value On A Recurring Basis 4 | $585,050 |
Components_Effecting_Change_in
Components Effecting Change in Fair Value (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Measurements Components Effecting Change In Fair Value 1 | $585,050 |
Fair Value Measurements Components Effecting Change In Fair Value 2 | 0 |
Fair Value Measurements Components Effecting Change In Fair Value 3 | 15,295 |
Fair Value Measurements Components Effecting Change In Fair Value 4 | $600,345 |
Quantitative_Information_about
Quantitative Information about Level 3 Fair Value Measurements (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 1 | $600,345 |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 2 | 0.73% |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 3 | 70.00% |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 4 | 2.42 |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 5 | 0.00% |
Share_Based_Payments_Expense_D
Share Based Payments Expense (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Share-based Payments Share Based Payments Expense 1 | $404,000 |
Share-based Payments Share Based Payments Expense 2 | $139,000 |
Stock_Option_Activity_Details
Stock Option Activity (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Share-based Payments Stock Option Activity 1 | $1,800,226 |
Share-based Payments Stock Option Activity 2 | 2.73 |
Share-based Payments Stock Option Activity 3 | 0 |
Share-based Payments Stock Option Activity 4 | 0 |
Share-based Payments Stock Option Activity 5 | 0 |
Share-based Payments Stock Option Activity 6 | 0 |
Share-based Payments Stock Option Activity 7 | -4,724 |
Share-based Payments Stock Option Activity 8 | 1.84 |
Share-based Payments Stock Option Activity 9 | -31,055 |
Share-based Payments Stock Option Activity 10 | 1.69 |
Share-based Payments Stock Option Activity 11 | 1,764,447 |
Share-based Payments Stock Option Activity 12 | 2.75 |
Share-based Payments Stock Option Activity 13 | 6.27 |
Share-based Payments Stock Option Activity 14 | 207,566 |
Share-based Payments Stock Option Activity 15 | 1,764,447 |
Share-based Payments Stock Option Activity 16 | 2.75 |
Share-based Payments Stock Option Activity 17 | 6.27 |
Share-based Payments Stock Option Activity 18 | 207,566 |
Share-based Payments Stock Option Activity 19 | 1,682,348 |
Share-based Payments Stock Option Activity 20 | 2.77 |
Share-based Payments Stock Option Activity 21 | 6.19 |
Share-based Payments Stock Option Activity 22 | $178,046 |
Warrants_Outstanding_Details
Warrants Outstanding (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Share-based Payments Warrants Outstanding 1 | $200,000 |
Share-based Payments Warrants Outstanding 2 | 200,000 |
Share-based Payments Warrants Outstanding 3 | 6.6 |
Share-based Payments Warrants Outstanding 4 | 26,667 |
Share-based Payments Warrants Outstanding 5 | 26,667 |
Share-based Payments Warrants Outstanding 6 | 7.2 |
Share-based Payments Warrants Outstanding 7 | 536,250 |
Share-based Payments Warrants Outstanding 8 | 536,250 |
Share-based Payments Warrants Outstanding 9 | 1.5 |
Share-based Payments Warrants Outstanding 13 | 228,571 |
Share-based Payments Warrants Outstanding 14 | 228,571 |
Share-based Payments Warrants Outstanding 15 | 1.75 |
Share-based Payments Warrants Outstanding 16 | 114,285 |
Share-based Payments Warrants Outstanding 17 | 114,285 |
Share-based Payments Warrants Outstanding 18 | 1.75 |
Share-based Payments Warrants Outstanding 19 | 1,085,714 |
Share-based Payments Warrants Outstanding 20 | 1,085,714 |
Share-based Payments Warrants Outstanding 21 | 1.75 |
Share-based Payments Warrants Outstanding 22 | 2,191,487 |
Share-based Payments Warrants Outstanding 23 | $2,191,487 |
Antidilutive_Securities_Exclud
Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 1 | $2,191,487 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 2 | 2,507,300 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 3 | 1,764,447 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 4 | 1,896,854 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 5 | 933,333 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 6 | 933,333 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 7 | 0 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 8 | 140,000 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 9 | 7,326,426 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 10 | 14,285,714 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 11 | 1,912,673 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 12 | 1,844,102 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 13 | 14,128,366 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 14 | $21,607,303 |
Unissued_Common_Stock_for_Poss
Unissued Common Stock for Possible Future Issuance (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 1 | $2,191,487 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 2 | 2,507,300 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 3 | 3,986,074 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 4 | 4,023,455 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 5 | 8,259,759 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 6 | 15,359,047 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 7 | 0 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 8 | 245,274 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 9 | 1,912,673 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 10 | 1,844,102 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 11 | 16,349,993 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 12 | $23,979,178 |
Leased_Property_Costs_Details
Leased Property Costs (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Contingencies And Commitments Leased Property Costs 1 | $605,585 |
Contingencies And Commitments Leased Property Costs 2 | 690,540 |
Contingencies And Commitments Leased Property Costs 3 | 57,725 |
Contingencies And Commitments Leased Property Costs 4 | $1,353,850 |
Leased_Content_Commitment_Deta
Leased Content Commitment (Details) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Contingencies And Commitments Leased Content Commitment 1 | $3,294,000 |
Contingencies And Commitments Leased Content Commitment 2 | 2,835,000 |
Contingencies And Commitments Leased Content Commitment 3 | $6,129,000 |