Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Schedule of Results of Operations

These reclassifications had no effect on previously reported results of operations, loss per share or total liabilities.

 

    As Reported     As Restated  
Current Liabilities   $ 14,657     $ 10,490  
Long Term Liabilities   $ 9,939     $ 14,106  
Total Liabilities   $ 24,596     $ 24,596  

Schedule of Basic and Diluted Loss Per Share

    Three months ended  
    September 30,  
    2017        
Basic net income (loss) per share:                
Numerator:                
Net income attributable to common shareholders   $ 2,529          
Denominator:                
Weighted-average shares of common stock outstanding     5,367,208          
Basic net income (loss) per share   $ 0.47          
                 
Diluted net income (loss) per share:                
Numerator:                
Net income attributable to common shareholders   $ 2,529          
Dividend     20          
Net Income(Loss)     2,549          
Denominator:                
Weighted-average shares of common stock outstanding     5,367,208          
Dilutive warrants outstanding     138,102          
Shares upon conversion of preferred stock     42,433          
Number of shares used in diluted per-share computation     5,547,743          
                 
Diluted net income (loss) per share   $ 0.46          

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities are excluded from the calculation of weighted average dilutive common shares because they are not currently convertible, or because their inclusion would have been anti-dilutive:

 

    For the Nine Months Ended  
    September 30,  
    2017     2016  
Convertible preferred stock, Series A     26,687       26,687  
Convertible preferred stock, Series A-1     15,746       15,746  
Convertible preferred stock, Series D [1]     -       -  
Convertible preferred stock, Series F [1]     -       -  
Warrants     819,925       -  
                 
Total potentially dilutive shares     862,358       42,433  

 

[1] The Series D (39,883,500) and Series F (19,415,460) preferred shares are convertible at a rate of 400 pre-split shares of common stock for each share of preferred stock but not until the Company has effected a sufficient increase in the authorized common shares. The Series D and Series F preferred shares were mandatorily converted to common shares at a ratio of 1 to 20 when the reverse split of common shares was effectuated on May 26, 2016.
Schedule of Concentration Credit Risk Percentage

The following tables set forth the Company’s revenues and accounts receivable balances for the periods indicated:

 

    For the Three Months     For the Nine Months  
    September 30, 2017     September 30, 2017  
Revenues     $       %       $       %  
Customer A     17,444       23 %     26,301       20 %
Customer B     8,246       11 %     12,711       9 %
Customer C     6,032       8 %     13,284       10 %

 

    For the Three Months     For the Nine Months  
    September 30, 2016     September 30, 2016  
Revenues   $     %     $     %  
Customer M     1,714       51 %     2,831       33 %
Customer N     543       16 %     1,599       19 %
Customer L     221       9 7%     1,096       13 %

 

 

    September 30, 2017     December 31, 2016  
Account Receivable       $       %       $       %    
Customer A     12,037       23 %     -       - %
Customer B     3,763       7 %     -       - %
Customer D     3,490       7 %     -       - %
Customer E     2,910       6 %     -       - %