Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 25, 2015 | Jun. 30, 2014 | |
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
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 | 23,832,559 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $34,641,212 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED_BALANCE_SHEET
CONSOLIDATED BALANCE SHEET (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Current assets: | ||
Cash and cash equivalents | $10,812,371 | $3,822,889 |
Accounts receivable, net | 1,091,076 | 175,211 |
Licensed content, current | 1,041,609 | 428,322 |
Prepaid expenses | 196,474 | 330,013 |
Debt issuance costs, net | 0 | 128,879 |
Other current assets | 22,442 | 48,928 |
Total current assets | 13,163,972 | 4,934,242 |
Property and equipment, net | 320,671 | 499,858 |
Licensed content, non-current | 35,648 | 162,646 |
Intangible assets, net | 2,320,103 | 2,621,527 |
Goodwill | 6,648,911 | 6,105,478 |
Long-term equity investments | 850,054 | 673,567 |
Other non-current assets | 365,006 | 0 |
Total assets | 23,704,365 | 14,997,318 |
Current liabilities: | ||
Accounts payable (including accounts payable of consolidated variable interest entities (VIEs) without resource to the Company of $8,598 and $3,043, respectively as of December 31, 2014 and 2013) | 110,814 | 656,545 |
Deferred revenue (including deferred revenue of VIEs without resource to the Company of $13,431 and $68,969, respectively as of December 31, 2014 and 2013) | 13,431 | 68,969 |
Accrued expenses and other liabilities (including accrued expenses and other liabilities of VIEs without resource to the Company of $573,620 and $25,018, respectively as of December 31, 2014 and 2013) | 2,046,783 | 1,075,944 |
Accrued license fees (including accrued license fees of VIEs without resource to the Company of $348,007 and $1,200,764, respectively as of December 31, 2014 and 2013) | 348,007 | 1,200,764 |
Contingent purchase price consideration liability | 0 | 578,744 |
Convertible promissory note | 3,000,000 | 3,000,000 |
Warrant liabilities | 585,050 | 1,344,440 |
Total current liabilities | 6,104,085 | 7,925,406 |
Deferred income tax liability | 364,572 | 125,809 |
Convertible promissory note | 0 | 2,000,000 |
Total liabilities | 6,468,657 | 10,051,215 |
Commitments and contingencies | 0 | 0 |
Equity: | ||
Common stock, $0.001 par value; 1,500,000,000 shares authorized, 23,793,702 and 15,794,762 shares issued and outstanding at December 31, 2014 and 2013, respectively | 23,794 | 15,794 |
Additional paid-in capital | 96,347,272 | 67,417,025 |
Accumulated deficit | -78,356,567 | -65,856,053 |
Accumulated other comprehensive loss | -66,032 | -715,090 |
Total YOU On Demand shareholder's equity | 17,955,832 | 861,676 |
Non-controlling interests | -1,982,119 | -1,397,322 |
Total equity/(deficit) | 15,973,713 | -535,646 |
Total liabilities, convertible redeemable preferred stock and equity | 23,704,365 | 14,997,318 |
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: | ||
Convertible redeemable preferred stock | 1,261,995 | 1,261,995 |
Series C - Nil and 87,500 shares issued and outstanding, liquidation preference of nil and $350,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock: | ||
Convertible redeemable preferred stock | 219,754 | |
Series D 4% - Nil and 2,285,714 shares issued and outstanding, liquidation preference of nil and $4,000,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock: | ||
Convertible redeemable preferred stock | 4,000,000 | |
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] | ||
Equity: | ||
Preferred Stock | $7,365 | $0 |
CONSOLIDATED_BALANCE_SHEET_Par
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Accounts payable of consolidated variable interest entities (VIEs) without resource to the Company | $8,598 | $3,043 |
Deferred revenue of VIEs without resource to the Company | 13,431 | 68,969 |
Accrued expenses and other liabilities of VIEs without resource to the Company | 573,620 | 25,018 |
Accrued license fees of VIEs without resource to the Company | 348,007 | 1,200,764 |
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) | 23,793,702 | 15,794,762 |
Common stock, shares outstanding | 23,793,702 | 15,794,762 |
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 C - Nil and 87,500 shares issued and outstanding, liquidation preference of nil and $350,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock, issued (in shares) | 87,500 | |
Convertible redeemable preferred stock, outstanding (in shares) | 87,500 | |
Convertible redeemable preferred stock, liquidation preference | 350,000 | 350,000 |
Series D 4% - Nil and 2,285,714 shares issued and outstanding, liquidation preference of nil and $4,000,000 at December 31, 2014 and 2013, respectively [Member] | ||
Convertible redeemable preferred stock, issued (in shares) | 2,285,714 | |
Convertible redeemable preferred stock, outstanding (in shares) | 2,285,714 | |
Convertible redeemable preferred stock, liquidation preference | 4,000,000 | 4,000,000 |
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 | 7,365,283 | |
Preferred Stock, Shares Outstanding | 7,365,283 | |
Preferred Stock, Liquidation Preference, Value | $12,889,250 | $0 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue | $1,962,622 | $308,695 |
Cost of revenue | 2,756,363 | 3,126,089 |
Gross loss | -793,741 | -2,817,394 |
Operating expense: | ||
Selling, general and administrative expense | 7,459,192 | 7,608,742 |
Professional fees | 653,646 | 705,692 |
Depreciation and amortization | 536,689 | 774,480 |
Impairments of long-lived assets | 0 | 311,249 |
Total operating expense | 8,649,527 | 9,400,163 |
Loss from operations | -9,443,268 | -12,217,557 |
Interest and other income/(expense) | ||
Interest expense, net | -2,374,368 | -370,752 |
Change in fair value of warrant liabilities | -621,239 | -466,060 |
Change in fair value of contingent consideration | -160,766 | -251,963 |
Loss on long-term equity investments | -20,717 | -2,741 |
Loss from disposal of consolidated entities | -622,939 | 0 |
Others | -85,516 | 55,831 |
Net loss from continuing operations before income taxes and non-controlling interest | -13,328,813 | -13,253,242 |
Income tax benefit | 304,670 | 111,266 |
Net loss from continuing operations | -13,024,143 | -13,141,976 |
Net income from discontinued operations | 0 | 5,255,474 |
Net loss | -13,024,143 | -7,886,502 |
Net loss attributable to non-controlling interests | 615,683 | 1,054,970 |
Net loss attributable to YOU On Demand shareholders | -12,408,460 | -6,831,532 |
Dividends and deemed dividends on preferred stock | -16,402,161 | -1,358,364 |
Net loss attributable to YOU On Demand common shareholders | ($28,810,621) | ($8,189,896) |
Basic and diluted loss per share: | ||
Loss from continuing operations | ($1.47) | ($0.89) |
Income from discontinued operations | $0.35 | |
Basic and diluted loss per share | ($1.47) | ($0.54) |
Weighted average shares outstanding: | ||
Basic and diluted | 19,600,510 | 15,226,216 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Net loss | ($13,024,143) | ($7,886,502) |
Other comprehensive income/(loss), net of tax | ||
Foreign currency translation adjustments | -36,974 | 141,378 |
Comprehensive loss | -13,061,117 | -7,745,124 |
Comprehensive loss attributable to non-controlling interest | 584,797 | 1,047,359 |
Comprehensive loss attributable to YOU On Demand shareholders | ($12,476,320) | ($6,697,765) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | ||
Net loss | ($13,024,143) | ($7,886,502) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Share-based compensation expense | 1,339,863 | 1,146,000 |
Depreciation and amortization | 536,689 | 1,616,966 |
Amortization of interest expense related to debt issuance costs | 128,879 | 241,129 |
Amortization of interest expense related to beneficial conversion feature | 2,126,301 | 0 |
Income tax benefit | -304,670 | -111,266 |
Loss on long-term equity investments | 20,717 | 2,741 |
Loss on disposal of assets | 49,118 | 8,144 |
Change in fair value of warrant liabilities | 621,239 | 466,060 |
Change in fair value of contingent consideration | 160,766 | 251,963 |
Loss from disposal of consolidated entities | 622,939 | -5,616,269 |
Impairment of long-lived assets | 0 | 311,249 |
Change in assets and liabilities, | ||
Accounts receivable | -915,865 | -174,032 |
Inventory | 0 | -65,367 |
Licensed content | -504,990 | 1,270,837 |
Prepaid expenses and other assets | -79,072 | -92,724 |
Accounts payable | -545,731 | -324,034 |
Accrued expenses and other liabilities | 502,184 | -40,309 |
Deferred revenue | -55,538 | 188,308 |
Accrued license fees | -852,757 | 45,946 |
Net cash used in operating activities | -10,174,071 | -8,761,160 |
Cash flows from investing activities: | ||
Acquisition of property and equipment | -67,297 | -430,775 |
Investments in intangibles | -3,361 | -22,662 |
Cash paid for long-term equity investment | -208,760 | 0 |
Sale of subsidiary | -7,549 | 3,728,759 |
Net cash (used in)/provided by investing activities | -286,967 | 3,275,322 |
Cash flows from financing activities | ||
Proceeds from sale of Series D Preferred Stock | 0 | 4,000,000 |
Proceeds from sale of Series E Preferred Stock | 19,000,000 | 0 |
Proceeds from the exercise of warrants and options | 995,607 | 0 |
Series D Preferred Stock dividend payment | -92,054 | 0 |
Proceeds from issuance of convertible note | 0 | 2,000,000 |
Costs associated with financings and share issuances | -2,386,051 | -1,090,982 |
Net cash provided by financing activities | 17,517,502 | 4,909,018 |
Effect of exchange rate changes on cash | -66,982 | 18,666 |
Net increase/(decrease) in cash and cash equivalents | 6,989,482 | -558,154 |
Total cash and cash equivalents at beginning of period | 3,822,889 | 4,381,043 |
Less cash and cash equivalents of discontinued operations at beginning of period | 0 | 1,103,152 |
Cash and cash equivalents of continuing operations at beginning of period | 3,822,889 | 3,277,891 |
Total cash and cash equivalents at end of period | 10,812,371 | 3,822,889 |
Less cash and cash equivalents of discontinued operations at end of period | 0 | 0 |
Cash and cash equivalents of continuing operations at end of period | 10,812,371 | 3,822,889 |
Supplemental Cash Flow Information: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 1,033 |
Value of warrants issued for issuance costs in connection with Preferred Series D shares | 0 | 247,995 |
Value of warrants issued for issuance costs in connection with Preferred Series E shares | 2,166,296 | 0 |
Value of warrants issued for issuance costs in connection with the Convertible Note | 0 | 128,072 |
Conversion of convertible promissory note for Series E Preferred Stock | 2,000,000 | 0 |
Exchange of Series D Preferred Stock for Series E Preferred Stock | 4,000,000 | 0 |
Value of common stock issued from conversion of Preferred Series B shares | 0 | 3,223,575 |
Issuance of common stock issued from conversion of Preferred Series C shares | 219,754 | 408,114 |
Issuance of shares and options issued for YOD Hong Kong contingent consideration earn-out | $739,510 | $410,475 |
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, 2012 | $13,742 | $62,388,502 | ($58,841,664) | $604,632 | $4,165,212 | $53,046 | $4,218,258 | |
Beginning Balance (Shares) at Dec. 31, 2012 | 13,742,394 | |||||||
Share-based compensation expense | 595,214 | 595,214 | 595,214 | |||||
Common shares issued for service | 61 | 163,694 | 163,755 | 163,755 | ||||
Common shares issued for service (Shares) | 60,501 | |||||||
Conversion of Series C Preferred Stock into common stock | 1,309 | 3,630,380 | 3,631,689 | 3,631,689 | ||||
Warrants issued for service | 108,840 | 108,840 | 108,840 | |||||
Common shares issued for clawback reset provision | 436 | 658,283 | 658,719 | 658,719 | ||||
Common shares issued for clawback reset provision (Shares) | 436,238 | |||||||
Common shares and options issued for YOD Hong Kong acquisition earn-out | 245 | 410,230 | 410,475 | 410,475 | ||||
Common shares and options issued for YOD Hong Kong acquisition earn-out (Shares) | 245,274 | |||||||
Warrants issued to placement agent in connection with Series D Preferred Stock issuance | 247,995 | 247,995 | 247,995 | |||||
Beneficial conversion feature of Series D Preferred Stock | 182,857 | -182,857 | ||||||
Warrants issued to placement agent in connection with convertible note issuance | 128,072 | 128,072 | 128,072 | |||||
Exercise of options | 1 | -1 | ||||||
Exercise of options (Shares) | 1,448 | |||||||
Conversion of Series B and Series C preferred shares into common shares (Shares) | 1,308,907 | |||||||
Accretion from Series D preferred shares | -1,097,041 | -1,097,041 | -1,097,041 | |||||
Sale of Jinan Broadband | -1,461,100 | -1,461,100 | -403,009 | -1,864,109 | ||||
Net loss attributable to YOU On Demand shareholders | -6,831,532 | -6,831,532 | -1,054,970 | -7,886,502 | ||||
Foreign currency translation adjustments | 142,236 | 142,236 | 7,611 | 149,847 | ||||
Unrealized losses on marketable securities | -858 | -858 | -858 | |||||
Ending Balance at Dec. 31, 2013 | 15,794 | 67,417,025 | -65,856,053 | -715,090 | 861,676 | -1,397,322 | -535,646 | |
Ending Balance (Shares) at Dec. 31, 2013 | 15,794,762 | |||||||
Share-based compensation expense | 727,363 | 729,363 | 727,363 | |||||
Conversion of Series C Preferred Stock into common stock | 140 | 219,614 | 219,754 | 219,754 | ||||
Conversion of Series C Preferred Stock into common stock (Shares) | 140,000 | |||||||
Series D Preferred Stock cash dividends | -92,054 | -92,054 | -92,054 | |||||
Series E Preferred Stock issuance | 14,286 | 24,985,714 | 25,000,000 | 25,000,000 | ||||
Series E Preferred Stock issuance (Shares) | 14,285,714 | |||||||
Conversion of Series E Preferred Stock into common stock | -6,921 | 6,921 | ||||||
Conversion of Series E Preferred Stock into common stock (Shares) | 6,920,431 | |||||||
Issuance costs in connection with the issuance of Series E Preferred Stock | -4,552,347 | -4,552,347 | -4,552,347 | |||||
Issuance costs in connection with the issuance of Series E Preferred Stock (Shares) | -6,920,431 | |||||||
Valuation of warrants issued to placement agent in connection with the issuance of Series E Preferred Stock | 2,166,296 | 2,166,296 | 2,166,296 | |||||
Beneficial conversion feature related to convertible note modification | 2,126,301 | 2,126,301 | 2,126,301 | |||||
Common shares and options issued for YOD Hong Kong acquisition earn-out | 245 | 739,265 | 739,510 | 739,510 | ||||
Common shares and options issued for YOD Hong Kong acquisition earn-out (Shares) | 245,275 | |||||||
Disposal of consolidated entities | 716,918 | 716,918 | 716,918 | |||||
Common stock issued for services | 74 | 142,426 | 142,500 | 140,728 | ||||
Common stock issued for services (Shares) | 73,600 | |||||||
Exercise of warrants | 608 | 2,374,575 | 2,375,183 | 2,375,183 | ||||
Exercise of warrants (Shares) | 607,480 | |||||||
Exercise of options | 12 | 1,040 | 1,052 | 1,052 | ||||
Exercise of options (Shares) | 12,154 | |||||||
Net loss attributable to YOU On Demand shareholders | -12,408,460 | -12,408,460 | -615,683 | -13,024,143 | ||||
Foreign currency translation adjustments | -67,860 | -67,860 | 30,886 | -36,974 | ||||
Ending 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 |
Ending Balance (Shares) at Dec. 31, 2014 | 7,365,283 | 23,793,702 |
Organization_and_Principal_Act
Organization and Principal Activities | 12 Months Ended | |
Dec. 31, 2014 | ||
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. | ||
Prior to July 31, 2013, the Company held 51% interest in Jinan Guangdian Jia He Broadband Co. ltd. (“Jinan Broadband”), a cable broadband business based in Jinan City, China. Effective July 31, 2013, the Company sold its 51% interest in Jinan Broadband. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2014 | ||
Summary of Significant Accounting Policies [Text Block] | 2 | Summary of Significant Accounting Policies |
(a) Principles of Consolidation | ||
The consolidated financial statements include the accounts of YOU On Demand and (a) YOU On Demand’s wholly-owned subsidiary China Broadband, Ltd., ("CB Cayman"), (b) the wholly-owned subsidiary of CB Cayman: YOU On Demand (Asia) Limited (“YOD Hong Kong”, formerly Sinotop Group Limited), (c) YOD Hong Kong’s PRC subsidiary: YOU On Demand (Beijing) Technology Co., Ltd. (“YOD WFOE”), (d) YOD WFOE’s variable interest entity: Beijing Sino Top Scope Technology Co., Ltd.(“Sinotop Beijing”) and (e) Sinotop Beijing’s subsidiary Zhong Hai Shi Xun Information Technology Co., Ltd. (“Zhong Hai Video”). All material intercompany transactions and balances are eliminated upon consolidation. | ||
Effective July 31, 2013, the Company sold its 51% interest in Jinan Broadband and as such, the operating results of Jinan Broadband was reported as discontinued operations in our consolidated statements of operations for the year ended December 31, 2013. Unless otherwise indicated, all disclosures and amounts in the Notes to the Consolidated Financial Statements relate to the Company’s continuing operations. | ||
(b) Basis of Presentation | ||
The Company prepares and presents its consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). | ||
Reclassifications | ||
Certain amounts in the prior period presented have been reclassified to conform to the current period consolidated financial statement presentation. These reclassifications have no effect on previously reported consolidated net income or cash flows. | ||
(c) Long-term Equity Investments | ||
Investments in entities where the Company can exercise significant influence, but not control, is classified as a long-term equity investment and accounted for using the equity method. Under the equity method, the investment is initially recorded at cost and adjusted for the Company’s share of undistributed earnings or losses of the investee. Investment losses are recognized until the investment is fully written down as the Company does not guarantee the investee’s obligations nor it is committed to provide additional funding. | ||
Management regularly evaluates the carrying value of its long-term equity investments based on performance and the financial position of the investee, as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financings, projected and historical financial performance, cash flow forecasts and financing needs. An impairment charge is recorded when the carrying amount of the investment exceeds its fair value and the impairment is determined to be other-than-temporary. | ||
As of and for the year ended December 31, 2014 and 2013, the Company’s long-term equity investments are comprised of the Company’s investment in Shandong Lushi Media Co., Ltd. (“Shandong Media”) and Hua Cheng Hu Dong (Beijing) Film and Television Communication Co., Ltd. (“Hua Cheng”), which are 30% and 39%, respectively, owned by Sinotop Beijing. | ||
(d) Use of Estimates | ||
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as the related disclosure of contingent assets and liabilities, at the date of the consolidated financial statements and during the reporting period. Actual results could differ from those estimates. | ||
The most significant estimates relate to the useful lives of property and equipment and intangible assets subject to amortization, property and equipment, goodwill and intangible asset impairment assessments, allowance for doubtful accounts, fair value of financial instruments, share-based payments, contingent purchase consideration and warrant liabilities, and valuation allowance of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment made could be significant. | ||
(e) Foreign Currency Translation | ||
The Company uses the United States dollar (“US$” or “USD”) as its reporting currency. The functional currency of YOU On Demand Holdings, Inc., CB Cayman and YOD Hong Kong is the USD while the functional currency of Sinotop Beijing, Zhonghai Video and YOD WFOE is Renminbi (“RMB”). In the consolidated financial statements, the financial information of the entities which uses RMB as their functional currency has been translated into USD. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at the historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive loss in the statement of comprehensive loss. | ||
Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are re-measured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from re-measurement at year end are recognized in foreign currency exchange gain/(loss) in the consolidated statement of operations. | ||
(f) Cash and Cash Equivalents | ||
Cash and cash equivalents consist of cash on hand and highly liquid investment securities with original maturities as of the date of purchase of three months or less. The Company deposits its cash balances with a limited number of banks. | ||
(g) Accounts Receivable | ||
Accounts receivable are recognized at invoiced amounts, less an allowance for uncollectible accounts, if any. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company reviews the collectability of its receivables on an ongoing basis. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. | ||
(h) Property and Equipment | ||
Property and equipment are stated at cost less accumulated depreciation. Expenditures for major renewals and improvements, which extend the original estimated economic useful lives of applicable assets, are capitalized. Expenditures for normal repairs and maintenance are charged to expense as incurred. The costs and related accumulated depreciation of assets sold or retired are removed from the accounts and any gain or loss thereon is recognized in our statement of operations. Depreciation is provided for on a straight-line basis over the estimated useful lives of the respective assets. | ||
(i) Licensed Content | ||
The Company obtains content through content license agreements and revenue sharing agreements with studios and distributors. When the license fee is known or reasonably determinable for a specified title in the content license agreements, we recognize the greater of: (i) revenue sharing costs incurred through the end of the reporting period, or (ii) the proportionate value of total minimum license fees over the term of each license agreement. Prepaid license fees are classified as an asset on the consolidated balance sheets as licensed content and accrued license fees payable to licensors are classified as a liability on the consolidated balance sheets. When the license fee is not known or reasonably determinable for a specific title, the title is not recognized in licensed content asset or liability in accordance with the relevant guidance. Commitments for license agreements that do not meet the criteria for recognition in licensed content are included in Note 18 to the consolidated financial statements. | ||
(j) Intangible Assets | ||
Intangible assets are stated at acquisition fair value or cost, less accumulated amortization. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment when an indicator for potential impairment exists. The Company is currently amortizing its intangible assets with definite lives over periods generally ranging between 5 to 20 years. The estimated useful lives are 20 years for the charter/cooperation agreements and 5 years for software licenses. | ||
(k) Website Development Costs | ||
Website development costs are stated at acquisition fair value or cost less accumulated amortization. The Company capitalizes website development costs associated with graphics design and development of the website application and infrastructure. Costs related to planning, content input, and website operations are expensed as incurred. The Company amortizes website development costs over three years. | ||
(l) Goodwill | ||
In accordance with Financial Accounting Standards Boards (“FASB”) Accounting Standards Codification (“ASC”) 350-20, Goodwill , the Company performs impairment test for its goodwill annually as of December 31, or more frequently, if indicators of potential impairment exist, to determine if the carrying value of goodwill is impaired. The Company reviews goodwill for impairment based on its identified reporting units, which are defined as reportable segments or groupings of businesses one level below the reportable segment level. In September 2011, the FASB issued amended guidance on testing goodwill for impairment. The guidance provides entities with an option to perform a qualitative assessment to determine whether further quantitative impairment testing is necessary, or to proceed directly to performing the first step of the goodwill impairment test. | ||
Under the qualitative assessment, the Company would first assess qualitative factors to determine if it is more-likely-than-not the fair value of the reporting unit is less than its carrying value of the reporting unit’s assets and liabilities (including goodwill). If management determines that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value, or if management is unable to reach a conclusion based on qualitative assessments, then the first and second steps of the goodwill impairment is performed. | ||
Under the quantitative assessment, if the two-step goodwill impairment test is required, the fair value of the reporting unit is first compared with its carrying amount (including goodwill). If the fair value of the reporting unit is less than its carrying amount, an indication of goodwill impairment exists for the reporting unit and the Company must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. If the fair value of the reporting unit exceeds its carrying amount, step two does not need to be performed. | ||
For the purpose of goodwill impairment testing, the Company is considered as a reporting unit. Based on the annual goodwill impairment test performed in the fourth quarter of 2014 and 2013, management concluded that the fair value of the reporting unit exceeded its carrying value. No impairment loss was recognized for the periods presented. | ||
(m) Impairment of Long-Lived Assets | ||
Long-lived assets, including property, equipment and, intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Impairment loss recognized for the year ended December 31, 2014 and 2013 amounted to nil and $311,000, respectively. | ||
Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale are presented separately in the appropriate asset and liability sections of the balance sheet. | ||
(n) Warrant Liabilities | ||
We account for derivative instruments and embedded derivative instruments in accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities , as amended. The amended standard requires an entity to recognize all derivatives as either assets or liabilities in the statement of financial position and measure these instruments at fair value. Fair value is estimated using the Monte Carlo simulation method. | ||
We also follow ASC 815-40 Accounting for Derivative Financial Instruments Indexed to and Potentially Settled in, a Company’s Own Stock , which requires freestanding contracts that are settled in a company’s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under these provisions a contract classified as an asset or a liability must be carried at fair value, with any changes in fair value recorded in the results of operations. A contract classified as an equity instrument must be included in equity, with no fair value adjustments required. The asset/liability derivatives are valued on an annual basis using the Monte Carlo simulation method. Significant assumptions used in the valuation included exercise dates, fair value for our common stock, volatility of our common stock and a risk-free interest rate. Gains or losses on warrants are included in “Changes in fair value of warrant liabilities” in our consolidated statement of operations. | ||
(o) Advertising & Marketing Expenses | ||
The Company expenses advertising and marketing costs as incurred, which are included in selling expense. Advertising and marketing costs were approximately $359,000 and $533,000 for the years ended December 31, 2014 and 2013, respectively. | ||
(p) Income Taxes | ||
The Company accounts for income taxes in accordance with the asset and liability method. Deferred taxes are recognized for the future tax consequences attributable to temporary differences between the carrying amounts of assets and liabilities for financial statement purposes and income tax purposes using enacted rates expected to be in effect when such amounts are realized or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A tax valuation allowance is established, as needed to reduce net deferred tax assets to the amount expected to be realized. The Company also follows ASC 740-10 for accounting for uncertainty in income taxes. | ||
The accounting for an uncertain tax position is a two-step process. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. | ||
Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. | ||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes in our consolidated statements of operation. | ||
(q) Revenue Recognition | ||
Revenue is recorded as services are provided. The Company generally recognizes all revenues in the period in which the service is rendered, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, and collection is reasonably assured. For certain contracts that involve sub-licensing content within the specified license period, revenue is recognized in accordance with ASC Subtopic 926-605, Entertainment-Films – Revenue Recognition . That is, if the arrangement includes a nonrefundable minimum guarantee, all contents have been delivered in accordance with the terms of the arrangement and there are no substantive future obligations from the Company, then revenue is recognized upon delivery. The Company records deferred revenue for payments received from customers for the performance of future services and recognize the associated revenue in the period that the services are performed. | ||
In accordance with ASC 605-25, Revenue Recognition – Multiple Element Arrangements , contracts with multiple element deliverables are separated into individual units for accounting purposes when the unit determined to have standalone value to the customer and performance of service is considered probable. Since the contract price is for all deliverables, the Company allocates the arrangement consideration to all deliverables at the inception of the arrangement on the basis of their relative selling price. Revenue related to each unit is recognized when the Company’s obligations under the contract have been satisfied and all revenue recognition criteria are met. | ||
(r) Net Loss Per Share Attributable to YOU On Demand Shareholders | ||
Basic and Diluted net loss per share attributable to YOU On Demand shareholders have been computed by dividing the net loss by the weighted average number of common shares outstanding. The assumed exercise of dilutive warrants, less the number of treasury shares assumed to be purchased from the proceeds of such exercises using the average market price of the Company’s common stock during each respective period, have been excluded from the calculation of diluted net loss per share for all periods presented as their effect would be anti-dilutive. | ||
(s) Share-Based Payment | ||
The Company awards share options and other equity-based instruments to its employees, directors and consultants (collectively “share-based payments”). Compensation cost related to such awards is measured based on the fair value of the instrument on the grant date and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The amount of cost recognized is adjusted to reflect the expected forfeiture prior to vesting. When no future services are required to be performed by the employee in exchange for an award of equity instruments, and if such award does not contain a performance or market condition, the cost of the award is expensed on the grant date. The Company recognizes compensation cost for an award with only service conditions that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. | ||
The Company also awards stocks and warrants for service to consultants for service and accounts for these awards under ASC 505-50, Equity – Equity-Based Payments to Non-Employees . Under the applicable guidance, fair value of the awards is assessed upon measurement date and recognized as cost or expenses when the services are provided. If the related services are completed upon issuance date, measurement date is determined to be the date the awards are issued. | ||
(t) Reportable Segment | ||
The Company has one operating business segment, video content and media, in which the chief operating decision maker reviews the operating results of the segment to determine the allocation of resources and the measuring of performance. | ||
(u) Recent Accounting Pronouncements | ||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU) 2014-09, creating a new Topic 606, Revenue from Contracts with Customers , to supersede the revenue recognition under current Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. The guidance also specifies the accounting for some costs to obtain or fulfill a contract with a customer, as well as disclosure requirements for qualitative and quantitative information that should be included in financial statements. For public entities, the amendment becomes effective for annual or interim reporting periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact on its consolidated financial statement of adopting this guidance. | ||
In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could Be Achieved after the Requisite Service Period under ASC 718, Compensation – Stock Compensation . The amendment applies to all reporting entities that grant their employee share-based payments under which the terms of the award provides a performance target that affects vesting and could be achieved after the requisite service period. Under the amended guidance, compensation cost shall be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requite service period, the remaining unrecognized compensation cost for which requisite service has not yet been rendered shall be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjust to reflect those awards that ultimately vest. The amendment is effective for annual and interim periods beginning after December 15, 2015, and early adoption is permitted. The Company does not anticipate that the amendment will have a significant impact on our financial position, statement of operations or cash flow. |
Going_Concern_and_Managements_
Going Concern and Management's Plans | 12 Months Ended | |
Dec. 31, 2014 | ||
Going Concern and Management's Plans [Text Block] | 3 | Going Concern and Management’s Plans |
For the year ended December 31, 2014 and 2013, we incurred net losses from continuing operations of approximately $13.0 million and $13.1 million, respectively, and we used cash for operations of approximately $10.2 million and $8.8 million, respectively. Further, we had significant accumulated deficits of approximately $78.4 million and $65.9 million as of December 31, 2014 and 2013, respectively, due to recurring losses since our inception. | ||
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 Share financing in which we raised an additional $19.0 million. See Note 13 for additional information. 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 | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
VIE Structure and Arrangements [Text Block] | 4 | 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 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 December 31, 2014. 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’s, as applicable for the periods presented, affected the Company's consolidated financial statements. | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 506,525 | $ | 3,074,107 | ||||
Accounts receivable, net | 1,091,076 | 166,374 | ||||||
Licensed content, current | 1,041,609 | 277,997 | ||||||
Prepaid expenses | 105,918 | 251,203 | ||||||
Other current assets | 12,811 | 1,458 | ||||||
Intercompany receivables due from the Company's subsidiaries (i) | 572,192 | 783,988 | ||||||
Total current assets | 3,330,131 | 4,555,127 | ||||||
Property and equipment, net | 297,898 | 410,642 | ||||||
Licensed content, non-current | 35,648 | 12,319 | ||||||
Intangible assets, net | 5,291 | 9,538 | ||||||
Long-term equity investments | 850,054 | 673,567 | ||||||
Other non-current assets | 272,657 | - | ||||||
Total assets | $ | 4,791,679 | $ | 5,661,193 | ||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 8,598 | $ | $3,043 | ||||
Deferred revenue | 13,431 | 68,969 | ||||||
Accrued expenses and other liabilities | 573,620 | 25,018 | ||||||
Accrued license fees | 348,007 | 1,200,764 | ||||||
Intercompany payables due to the Company's subsidiaries (i) | 11,200,536 | 8,636,434 | ||||||
Total current liabilities | 12,144,192 | 9,934,228 | ||||||
Total liabilities | $ | 12,144,192 | $ | 9,934,228 | ||||
(i) Intercompany receivables and payables are eliminated upon consolidation. | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Net revenue | $ | 1,962,622 | $ | 308,695 | ||||
Net loss | $ | (3,173,010 | ) | $ | (4,529,372 | ) | ||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Net cash used in operating activities | $ | (2,284,452 | ) | $ | (1,233,993 | ) | ||
Net cash provided by/(used in) investing activities | $ | (278,469 | ) | $ | 3,672,829 | |||
Net cash provided by financing activities | $ | - | $ | 561,356 |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Discontinued Operations [Text Block] | 5 | Discontinued Operations | |||
In order to focus on our core VOD business and help with cash flow needs, the Company sold its 51% ownership of Jinan Broadband to Shandong Broadcast Networks Limited. Total consideration for the sale was RMB29,000,000, and the sale became finalized on July 31, 2013. The Company received an initial payment of RMB5,000,000 (approximately $811,000) in the third quarter of 2013 and the final payment of RMB24,000,000 (approximately $3,920,000) in the fourth quarter of 2013. | |||||
Jinan Broadband met the criteria for being reported as a discontinued operation for the year ended December 31, 2013. We do not have any continuing involvement with Jinan Broadband. The related gain on the sale was reported in discontinued operations during the year ended December 31, 2013. | |||||
The following table summarizes the results from discontinued operations: | |||||
December 31, | |||||
2013 | |||||
(7 months ) | |||||
Revenue | $ | 3,095,148 | |||
Net loss before income taxes and non-controlling interest | (360,795 | ) | |||
Income tax benefit | - | ||||
Net loss from discontinued operations | (360,795 | ) | |||
Plus: Net loss attributable to non-controlling interest | 176,790 | ||||
Net loss attributable to YOU On Demand shareholders | $ | (184,005 | ) |
Sales_of_WFOE_and_Dissolution_
Sales of WFOE and Dissolution of Jinan Zhong Kuan | 12 Months Ended | |
Dec. 31, 2014 | ||
Sales of WFOE and Dissolution of Jinan Zhong Kuan [Text Block] | 6 | 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. |
LongTerm_Equity_Investment
Long-Term Equity Investment | 12 Months Ended | |
Dec. 31, 2014 | ||
Long-Term Equity Investment [Text Block] | 7 | Long-Term Equity Investment |
During the second quarter of 2014, Shandong Lushi Media Co., Ltd (“Shandong Media”), a PRC company 30% owned by Sinotop Beijing, initiated the process to increase their registered capital from RMB5,044,200 to RMB9,330,000. The purpose of the financing activity was to allow Shandong Media to develop a multi-media platform to expand its current business into the Internet space. In August 2014, the Company invested cash of RMB1,285,800 ($208,760) into Shandong Media to maintain our 30% equity ownership. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property and Equipment [Text Block] | 8 | Property and Equipment | ||||||
The following is a breakdown of our property and equipment: | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Furniture and office equipment | $ | 959,080 | $ | 965,568 | ||||
Leasehold improvements | 190,722 | 184,129 | ||||||
Total property and equipment | 1,149,802 | 1,149,697 | ||||||
Less: accumulated depreciation | (829,131 | ) | (649,839 | ) | ||||
Net carrying value | $ | 320,671 | $ | 499,858 | ||||
We recorded depreciation expense of approximately $233,000 and $275,000, which is included in our operating expense for the years ended December 31, 2014 and 2013, respectively. |
Intangible_Assets
Intangible Assets | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Intangible Assets [Text Block] | 9 | Intangible Assets | ||||||||||||||||||
The Company intangible assets primarily arose from the acquisition of YOD Hong Kong. | ||||||||||||||||||||
As of December 31, 2014 and 2013, the Company’s amortized intangible assets consisted of the following: | ||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||
Gross Carrying | Accumulated | Net | Gross Carrying | Accumulated | Net | |||||||||||||||
Amount | Amortization | Balance | Amount | Amortization | Balance | |||||||||||||||
Charter/ Cooperation agreements | $ | 2,755,821 | $ | (608,580 | ) | $ | 2,147,241 | $ | 2,755,821 | $ | (470,789 | ) | $ | 2,285,032 | ||||||
Non-compete agreement | - | - | - | 3,637,512 | (3,637,512 | ) | - | |||||||||||||
Software and licenses | 253,930 | (215,358 | ) | 38,572 | 282,399 | (200,833 | ) | 81,566 | ||||||||||||
Website development | 356,425 | (356,425 | ) | - | 361,919 | (241,280 | ) | 120,639 | ||||||||||||
Total finite lived intangible assets | $ | 3,366,176 | $ | (1,180,363 | ) | $ | 2,185,813 | $ | 7,037,651 | $ | (4,550,414 | ) | $ | 2,487,237 | ||||||
Website name | 134,290 | - | 134,290 | 134,290 | - | 134,290 | ||||||||||||||
Total intangible assets | $ | 3,500,466 | $ | (1,180,363 | ) | $ | 2,320,103 | $ | 7,171,941 | $ | (4,550,414 | ) | $ | 2,621,527 | ||||||
During the year ended December 31, 2014, our acquired intangible asset was comprised of software, which was recognized over the weighted-average amortization period of 5.0 years. | ||||||||||||||||||||
We recorded amortization expense related to our finite lived intangible assets of approximately $304,000 and $499,000 during the year ended December 31, 2014 and 2013, respectively. | ||||||||||||||||||||
The following table outlines the amortization expense for the next five years and thereafter: | ||||||||||||||||||||
Amortization to be | ||||||||||||||||||||
Years ending December 31, | Recognized | |||||||||||||||||||
2015 | $ | 156,454 | ||||||||||||||||||
2016 | 154,589 | |||||||||||||||||||
2017 | 138,881 | |||||||||||||||||||
2018 | 138,881 | |||||||||||||||||||
2019 | 138,722 | |||||||||||||||||||
Thereafter | 1,458,286 | |||||||||||||||||||
Total amortization to be recognized | $ | 2,185,813 |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Fair Value Measurements [Text Block] | 10 | 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 annually to determine if the fair value measurements are still appropriate, and to 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 December 31, 2014 and 2013 were valued using the Monte Carlo Simulation method which incorporated the following assumptions: | ||||||||||||||
December 31, | December 31, | |||||||||||||
2014 | 2013 | |||||||||||||
Risk-free interest rate | 1.04% | 1.19% | ||||||||||||
Expected volatility | 70% | 70% | ||||||||||||
Expected term (years) | 2.67 | 3.67 | ||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||
Our contingent consideration liability was settled on July 1, 2014 (see Note 11). The fair value of the option portion of our contingent consideration liability at December 31, 2013 was valued using the Black-Scholes Merton model which incorporated the following assumptions: | ||||||||||||||
December 31, | ||||||||||||||
2013 | ||||||||||||||
Risk-free interest rate | 1.27% | |||||||||||||
Expected volatility | 70% | |||||||||||||
Expected term (years) | 4 | |||||||||||||
Expected dividend yield | 0% | |||||||||||||
The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at December 31, 2014 and December 31, 2013, respectively: | ||||||||||||||
31-Dec-14 | ||||||||||||||
Fair Value Measurements | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | |||||||||||
Liabilities | ||||||||||||||
Warrant liabilities (see Note14) | $ | - $ | - $ | 585,050 | $ | 585,050 | ||||||||
31-Dec-13 | ||||||||||||||
Fair Value Measurements | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | |||||||||||
Assets | ||||||||||||||
Available-for-sale securities | $ | 1,371 | $ | - | $ | - | $ | 1,371 | ||||||
Liabilities | ||||||||||||||
Warrant liabilities (see Note14) | $ | - | $ | - | $ | 1,344,440 | $ | 1,344,440 | ||||||
Contingent purchase price consideration (see | ||||||||||||||
Note 11) | $ | - | $ | - | $ | 578,744 | $ | 578,744 | ||||||
The table below reflects the components effecting the change in fair value for the year ended December 31, 2014 and 2013, respectively: | ||||||||||||||
Level 3 Assets and Liabilities | ||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||
Change in | ||||||||||||||
January 1, | Fair Value | December 31, | ||||||||||||
2014 | Settlements | loss | 2014 | |||||||||||
Liabilities: | ||||||||||||||
Warrant liabilities (see Note14) | $ | 1,344,440 | $ | (1,380,629 | ) | $ | 621,239 | $ | 585,050 | |||||
Contingent purchase price consideration (see Note 11) | $ | 578,744 | $ | (739,510 | ) | $ | 160,766 | $ | - | |||||
Level 3 Assets and Liabilities | ||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||
Change in | ||||||||||||||
January 1, | Fair Value | December 31, | ||||||||||||
2013 | Settlements | loss | 2013 | |||||||||||
Liabilities: | ||||||||||||||
Warrant liabilities (see Note14) | $ | 878,380 | $ | - | $ | 466,060 | $ | 1,344,440 | ||||||
Contingent purchase price consideration (see Note 11) | $ | 737,256 | $ | (410,475 | ) | $ | 251,963 | $ | 578,744 | |||||
The table below reflects the components effecting the change in fair value for the year ended December 31, 2014 and 2013, respectively: | ||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||
For the Year Ended December 31, 2014 | ||||||||||||||
Fair Value at | Valuation | Unobservable | ||||||||||||
12/31/14 | Techniques | Inputs | Input | |||||||||||
Warrant liabilities | $ | 585,050 | Monte Carlo Simulation Model | Risk-free rate of interest | 1.04% | |||||||||
Expected volatility | 70% | |||||||||||||
Expected term (years) | 2.67 | |||||||||||||
Expected dividend yield | 0% | |||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||
For the Year Ended December 31, 2013 | ||||||||||||||
Fair Value at | Valuation | Unobservable | ||||||||||||
12/31/13 | Techniques | Inputs | Input | |||||||||||
Warrant liabilities | $ | 1,344,440 | Monte Carlo Simulation Model | Risk-free rate of interest | 1.19% | |||||||||
Expected volatility | 70% | |||||||||||||
Expected term (years) | 3.67 | |||||||||||||
Expected dividend yield | 0% | |||||||||||||
Contingent consideration | $ | 578,744 | Black-Scholes Merton Model | Risk-free rate of interest | 1.27% | |||||||||
Expected volatility | 70% | |||||||||||||
Expected term (years) | 4 | |||||||||||||
Expected dividend yield | 0% | |||||||||||||
The significant unobservable inputs used in the fair value measurement of the Company’s warrant liability and contingent consideration 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 December 31, 2014 and 2013, approximate fair value because of the short maturity of these instruments. |
YOD_Hong_Kong_Contingent_Consi
YOD Hong Kong Contingent Consideration | 12 Months Ended | |
Dec. 31, 2014 | ||
YOD Hong Kong Contingent Consideration [Text Block] | 11 | YOD Hong Kong Contingent Consideration |
In connection with the acquisition of YOD Hong Kong on July 30, 2010, if specified performance milestones are achieved, Weicheng Liu (“Mr. Liu” or “the Seller”) will be entitled to earn up to (i) an additional 403,820 shares of common stock of the Company, (ii) three-year warrants to purchase 571,275 shares of the Company’s common stock, and (iii) a four-year option to purchase 80,000 shares of the Company’s common stock which was equal to 5% of the total number of shares of the Company’s common stock (collectively, the securities referred to in clauses (i), (ii) and (iii) are referred to herein as the “Earn-Out Securities”). The milestones are as follows: YOD Hong Kong will ensure that (i) at the end of the first earn-out year (July 1, 2012), at least 3 million homes will have access to the Company’s VOD services, (ii) at the end of the second earn-out year (July 1, 2013), at least 11 million homes will have access to the Company’s VOD services, and (iii) at the end of the third earn-out year (July 1, 2014), at least 30 million homes will have access to the Company’s VOD services. The shares, warrants, and options are earned at a rate of one third for each milestone achieved. | ||
Subsequent to the acquisition of YOD Hong Kong, the Company underwent a warrant exchange that converted the three-year warrants to be potentially earned under clause (ii) above to 332,002 shares of common stock. As such, the Earn-Out Securities subject to the achievement of the specified performance milestones were 735,822 shares of common stock and a four-year option to purchase 80,000 shares of common stock. | ||
The Company recorded a contingent consideration obligation related to the Earn-Out Securities at the time of acquisition which totaled $2,750,966, representing the fair value of the estimated payment of the full earn-out. The contingent consideration was classified as a liability because the Earn-Out securities did not meet the fixed-for-fixed criteria under ASC 815-40-15 for equity classification, since the achievement of the milestones is not solely based on the operations of the Company. Further ASC 815-40-15 requires us to re-measure the contingent consideration obligation at the end of every reporting period with the change in value reported in the consolidated statements of operations. Accordingly, we reported an expense of approximately $161,000 and $252,000, for the years ended December 31, 2014 and 2013, respectively. | ||
As of the end of the second earn-out year (July 1, 2013), the second milestone was achieved with over 11 million homes having access to our VOD services. As such, we issued in total 490,548 shares of our common stock and 53,334 options to Mr. Liu for achieving the first two year milestones. As of the end of the third earn-out year (July 1, 2014), the third milestone was achieved with over 30 million homes having access to our VOD services. As such, we issued 245,274 shares of our common stock and 26,666 options to Mr. Liu for achieving the third year milestone on July 1, 2014. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |
Dec. 31, 2014 | ||
Related Party Transactions [Text Block] | 12 | 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, the 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 14 c- 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 13), 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 13) 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 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 year ended December 31, 2014 and 2013, the Company recorded interest expense of $2,444,000 and $120,000 related to the Note. | ||
(b) Short-term Loans | ||
On June 10, 2013, Shane McMahon made a short-term loan in the amount of $40,000 to the Company which was repaid in full on July 11, 2013. | ||
On June 26, 2013, at the Company’s request, Shane McMahon made a loan to the Company in the amount of $150,000 in order for the Company to make certain payments, pending consummation of the Series D investment transaction described in Note 13. In consideration for the loan, the Company issued a Promissory Note to Mr. McMahon in the aggregate principal amount of $150,000 (the “June 2013 Note”). The June 2013 Note was to mature on the earlier of the Series D investment transaction, or, if that transaction was not consummated, six months from the date of issuance. On July 11, 2013, the Company repaid all amounts owed to Mr. McMahon under the June 2013 Note. | ||
(c) Cost of Revenue | ||
Zhong Hai Video paid licensed content fees of approximately $163,000 and $161,000 for the years ended December 31, 2014 and 2013, respectively, to Hua Cheng, the minority shareholder of Zhong Hai Video. | ||
(d) Sale of WFOE | ||
Effective March 25, 2014, Beijing China Broadband Network Technology Co., Ltd. (“WFOE”), 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 received from the sale of WFOE amounted to $50,000 (see Note 6). |
Series_D_and_Series_E_Preferre
Series D and Series E Preferred Stock Financing and Convertible Note | 12 Months Ended | |
Dec. 31, 2014 | ||
Series D and Series E Preferred Stock Financing and Convertible Note [Text Block] | 13 | 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 Limited (the “Investor” or “C Media”), pursuant to which we sold to the Investor 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 Preferred Stock and any dividends thereon may be converted into shares of our common stock at any time by the Investor at a conversion price of $1.75 per share. The dividends on the 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 the Investor. The redemption may be exercised in whole or in part at $1.75 dollars per share, plus all unpaid and accrued dividends. The Investor shall have the right to vote with our stockholders in any matter. The Investor 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 Corporation, the Investor 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. | ||
The Preferred Stock when issued was a hybrid instrument comprised of a (i) a preferred stock and (ii) an option to convert the preferred stock into shares of our common stock (the “Conversion Option”). The Conversion Option derives its value based on the underlying fair value of the shares of our common stock as does the Preferred Stock, and therefore is clearly and closely related to the underlying preferred stock. Since the Preferred Stock may ultimately be redeemed at the option of the holder, the carrying value of the shares, net of unamortized discount and accumulated dividends, has been classified as temporary equity. | ||
The Company paid issuance costs of approximately $849,000 in cash and issued warrants to the placement agent to purchase 228,571 shares of our 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 1.60% . The exercise price of the warrants was $1.75. The warrants were valued at $247,995 at the date of issuance. The Series D Preferred Stock was recorded net of issuance costs of $1,097,041 at the issuance date, as a charge to additional paid-in capital, due to our deficit in retained earnings during the period ended December 31, 2013. | ||
The Company recognized a beneficial conversion feature discount on the Series D Preferred Stock which was the fair value of the common stock at the commitment date for the Series D Preferred Stock investment, less the effective conversion price. As such, the Company recognized approximately $183,000 of beneficial conversion feature at the issuance date. Subsequently, the Company exchanged the Series D Preferred Stock to Series E Preferred Stock, which was binding and legally enforceable by both parties on January 31, 2014. As such, the previously recognized beneficial conversion feature of $183,000 related to our 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, the Company was obligated to pay cumulative dividends of 4% per annum on the Series D Preffered Stock. In the first quarter of 2014, we paid in full the total cumulative dividends due of $92,000. | ||
(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 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, we recorded debt issuance costs of approximately $370,000 that is to be amortized over the period of the earliest possible conversion date which was January 31, 2014. As such we recorded interest expense of approximately $129,000 and $241,000 during 2014 and 2013, respectively. 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 or by January 31, 2014. | ||
On December 4, 2013, C Media exercised its extension option which extended the 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 exchange 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 preferred stock. |
Warrant_Liabilities
Warrant Liabilities | 12 Months Ended | |
Dec. 31, 2014 | ||
Warrant Liabilities [Text Block] | 14 | 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 December 31, 2014 and 2013, the warrant liability was re-valued as disclosed in Note 10, and was adjusted to its current fair value of approximately $585,000 and $1,344,000 as determined by the Company, resulting in a loss of approximately $621,000 for the year ended December 31, 2014. During year ended December 31, 2014, 440,813 warrants were exercised at an exercise price $1.50 for gross proceeds received of approximately $661,000. |
ShareBased_Payments
Share-Based Payments | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-Based Payments [Text Block] | 15 | Share-Based Payments | ||||||||||||
As of December 31, 2014, the Company has 1,800,226 options and 2,191,487 warrants outstanding to purchase shares of our common stock. | ||||||||||||||
The following table provides the details of the approximate total share based payments expense during the years ended December 31, 2014 and 2013: | ||||||||||||||
December 31, | December,31 | |||||||||||||
2014 | 2013 | |||||||||||||
Employees and directors share-based payments | $ | 1,340,000 | $ | 540,000 | (i) | |||||||||
Cost of stock option price reduction | - | 55,000 | (ii) | |||||||||||
Stock issued for services | - | 442,000 | (iii) | |||||||||||
Stock warrants issued for services | - | 109,000 | (iv) | |||||||||||
$ | 1,340,000 | $ | 1,146,000 | |||||||||||
------- | ||||||||||||||
(i) The Company awards common stock and stock options to employee 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, Compensation – 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. | ||||||||||||||
(ii) The Compensation Committee of the Board of Directors (acting as Administrator) reduced the exercise price of 701,167 outstanding stock options granted under the Company’s 2010 Equity Incentive Plan to $2.00. The Plan permits the Administrator to reduce the exercise price of any award granted under the Plan if the fair market value of the award has declined since the date of grant. All other terms of these options, including, without limitation, the exercise date, vesting schedule and the number of shares to which each option pertains, remain unchanged. The exercise prices of stock options for all employees were adjusted except that the exercise price of stock options held by the Company’s Chairman, Shane McMahon, and the Company’s CEO, Weicheng Liu. As a result of the exercise price modification, the Company recognized additional compensation expense of $55,000 for the stock options held by 30 employees for the year ended December 31, 2013. | ||||||||||||||
(iii) During 2013, 60,501 shares were issued to certain consultants for services provided to us. We recorded the cost of common shares at the closing price on the issue date which is the date the service is completed. We expensed to consulting and marketing services $442,000 during the year ended December 31, 2013. No shares were issued for services in 2014. | ||||||||||||||
(iv) In 2013, we issued 166,677 warrants to consultants for services and 6,667 warrants vested during 2013. The fair value of the warrants was estimated on the date of grant using the Black-Scholes Merton valuation model. We expensed to marketing $109,000 during the year ended December 31, 2013. No warrants were issued for services in 2014. | ||||||||||||||
(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 December 31, 2014, options available for issuance are 2,003,297 shares. | ||||||||||||||
Stock option activity for the year ended December 31, 2014 is summarized as follows: | ||||||||||||||
Weighted Average | ||||||||||||||
Remaining | Aggregated | |||||||||||||
Options | Weighted Average | Contractual Life | Intrinsic | |||||||||||
Outstanding | Exercise Price | (Years) | Value | |||||||||||
Outstanding at January 1, 2014 | 1,878,835 | $ | 2.64 | |||||||||||
Granted | 62,999 | 3.15 | ||||||||||||
Exercised | (46,727 | ) | 1.94 | |||||||||||
Expired | (12,862 | ) | 1.89 | |||||||||||
Forfeited | (82,019 | ) | 1.75 | |||||||||||
Outstanding at December 31, 2014 | 1,800,226 | $ | 2.73 | 6.68 | $ | 156,572 | ||||||||
Vested and expected to be vested as of December 31, 2014 | 1,800,226 | $ | 2.73 | 6.68 | $ | 156,572 | ||||||||
Options exercisable at December 31, 2014 (vested) | 1,544,752 | $ | 2.86 | 6.38 | $ | 69,743 | ||||||||
The weighted average grant-date fair value of options granted during the years ended December 31, 2014, and 2013, was $1.70 and $1.26. The total intrinsic value of options exercised during the years ended December 31, 2014, and 2013, was $27,820 and $1,636. | ||||||||||||||
As of December 31, 2014, approximately $422,000 of total unrecognized compensation expense related to non-vested share options is expected to be recognized over a weighted average period of approximately 2.34 years. The total fair value of shares vested during the years ended December 31, 2014 and 2013 was approximately $619,000 and $540,000, respectively. | ||||||||||||||
The following table summarizes the assumptions used to estimate the fair values of the share options granted in the years presented: | ||||||||||||||
December,31 | December,31 | |||||||||||||
2014 | 2013 | |||||||||||||
Exercise multiple | 2.52 ~ 2.91 | 1.65 | ||||||||||||
Expected term | 10 years | 10 years | ||||||||||||
Expected volatility | 70% | 70% | ||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||
Risk free interest rate | 1.43%~ 2.66% | 2.66% | ||||||||||||
Fair value | 1.33 ~ 2.23 | 1.26 | ||||||||||||
(b) Warrants | ||||||||||||||
In connection with the Company’s financings, the Warner Brother Agreement and service agreements, the Company issued warrants to investors and service providers to purchase common stock of the Company. | ||||||||||||||
As of December 31, 2014, the weighted average exercise price was $2.20 and the weighted average remaining life was 3.39 years. The following table outlines the warrants outstanding and exercisable as of December 31, 2014 and December 31, 2013: | ||||||||||||||
2014 | 2013 | |||||||||||||
Number of | Number of | |||||||||||||
Warrants | Warrants | Exercise | Expiration | |||||||||||
Warrants Outstanding | Outstanding | Outstanding | Price | Date | ||||||||||
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 | 977,063 | $ | 1.5 | 8/30/17 | |||||||||
2013 Service Agreement Warrants | - | 166,667 | $ | 2 | 2/26/18 | |||||||||
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 | - | $ | 1.75 | 1/31/19 | |||||||||
2,191,487 | 1,713,253 | |||||||||||||
(i) The warrants are calssified as derivative liabilities as disclosed in Note 14. | ||||||||||||||
Net_Loss_Per_Common_Share
Net Loss Per Common Share | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Net Loss Per Common Share [Text Block] | 16 | 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 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 years ended December 31, 2014 and 2013, 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: | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Warrants | 2,191,487 | 1,713,253 | ||||||
Options | 1,800,226 | 1,878,835 | ||||||
Series A Preferred Stock | 933,333 | 933,333 | ||||||
Series C Preferred Stock | - | 140,000 | ||||||
Series D 4% Preferred Stock | - | 2,320,434 | ||||||
Series E Preferred Stock | 7,365,283 | - | ||||||
Convertible promissory notes | 1,895,765 | 2,977,315 | ||||||
Total | 14,186,094 | 9,963,170 | ||||||
The Company has reserved its authorized but unissued common stock for possible future issuance in connection with the following: | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Exercise of stock warrants | 2,191,487 | 1,713,253 | ||||||
Exercise and future grants of stock options | 3,986,074 | 4,023,871 | ||||||
Conversion of preferred stock | 8,298,616 | 3,393,767 | ||||||
Contingent issuable shares in connection with YOD Hong Kong acquisition | - | 245,274 | ||||||
Issuable shares from conversion of promissory notes payable | 1,895,765 | 2,977,315 | ||||||
Total | 16,371,942 | 12,353,480 |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Income Taxes [Text Block] | 17 | Income Taxes | ||||||
(a) Corporate Income Tax (“CIT”) | ||||||||
YOD was incorporated in Nevada and is subject to U.S. federal and state income tax. | ||||||||
CB Cayman was incorporated in Cayman Islands as an exempted company and is not subject to income tax under the current laws of Cayman Islands. | ||||||||
YOD Hong Kong was incorporated in HK as a holding company. The statutory income tax rate in HK is 16.5% . | ||||||||
All of the Company’s income is generated in the PRC. WFOE, YOD WFOE, Sinotop Beijing, Zhong Hai Video, Jinan Zhong Kuan are PRC entities. The income tax provision of these entities is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in the PRC. | ||||||||
In accordance with the Corporate Income Tax Law of the PRC (“CIT Law”), effective beginning on January 1, 2008, enterprises established under the laws of foreign countries or regions and whose “place of effective management” is located within the PRC territory are considered PRC resident enterprises and subject to the PRC income tax at the rate of 25% on worldwide income. The definition of “place of effective management” refers to an establishment that exercises, in substance, and among other items, overall management and control over the production and business, personnel, accounting, and properties of an enterprise. If the Company’s non-PRC incorporated entities are deemed PRC tax residents, such entities would be subject to PRC tax under the CIT Law. Since our non-PRC entities have accumulated loss, the application of this tax rule will not result in any PRC tax liability, if our non-PRC incorporated entities are deemed PRC tax residents. | ||||||||
The CIT Law imposes a 10% withholding income tax, subject to reduction based on tax treaty where applicable, for dividends distributed by a foreign invested enterprise to its immediate holding company outside China. Under the PRC-HK tax treaty, the withholding tax on dividends is 5% provided that a HK holding company qualifies as a HK tax resident as defined in the tax treaty. No provision was made for the withholding income tax liability as the Company's foreign subsidiaries were in accumulated loss. | ||||||||
Loss before tax and the provision for income tax benefit consists of the following components: | ||||||||
2014 | 2013 | |||||||
Loss before tax | $ | (13,328,813 | ) | $ | (13,253,242 | ) | ||
Deferred tax benefit of net operating loss | ||||||||
United States | $ | - | $ | - | ||||
PRC/Hong Kong | (304,670 | ) | (68,523 | ) | ||||
(304,670 | ) | (68,523 | ) | |||||
Deferred tax benefit other than benefit of net operating loss | ||||||||
United States | - | - | ||||||
PRC/Hong Kong | - | (42,743 | ) | |||||
Total income tax benefit | $ | (304,670 | ) | $ | (111,266 | ) | ||
A reconciliation of the expected income tax derived by the application of the 34.0% U.S. corporate income tax rate to the Company's loss before income tax benefit is as follows: | ||||||||
2014 | 2013 | |||||||
U. S. statutory income tax rate | 34.00% | 34.00% | ||||||
Non-deductible expenses | -2.50% | -1.60% | ||||||
Non-deductible interest expenses | -6.10% | - | ||||||
Non-taxable change in warrant liabilities | -1.60% | -1.20% | ||||||
Non-taxable (gain)/loss on contingent consideration | -0.40% | -0.60% | ||||||
Forfeiture of capital loss | -3.20% | - | ||||||
Increase in valuation allowance | -18.50% | -22.50% | ||||||
Rate-differential on foreign income invested indefinitely | - | -5.00% | ||||||
Others | 0.50% | -2.10% | ||||||
Effective income tax rate | 2.30% | 0.80% | ||||||
Deferred income taxes are recognized for future tax consequences attributable to temporary differences between the carrying amounts of assets and liabilities for financial statement purposes and income tax purposes using enacted rates expected to be in effect when such amounts are realized or settled. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2014 and 2013 are as follows: | ||||||||
2014 | 2013 | |||||||
U.S. NOL | 9,563,551 | 6,809,115 | ||||||
Foreign NOL | 2,790,913 | 2,495,773 | ||||||
Accrued payroll and expense | 479,116 | 1,334,949 | ||||||
Nonqualified options | 829,354 | 306,559 | ||||||
Marketable securities | 131,691 | 100,795 | ||||||
Capital loss carryover | 72,660 | 482,898 | ||||||
Others | 92,675 | 54,333 | ||||||
Total deferred tax assets | 13,959,960 | 11,584,422 | ||||||
Less: valuation allowance | (13,783,420 | ) | (11,319,919 | ) | ||||
Deferred tax liabilities | ||||||||
Deferred rent | (4,301 | ) | (522 | ) | ||||
Basis in equity method investee | (12,760 | ) | ||||||
Intangible assets | (536,811 | ) | (377,030 | ) | ||||
Total deferred tax liabilities | (541,112 | ) | (390,312 | ) | ||||
Net deferred tax liability | (364,572 | ) | (125,809 | ) | ||||
As of December 31, 2014, the Company had approximately $21.7 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 $11.2 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. The non-recognition of the tax benefits, while reducing the net operating loss carryovers, gives rise to a capital loss carryover of approximately $165,000. Utilization of net operating losses may be subject to an annual limitation due to ownership change limitations provided in the Internal Revenue Code and similar state and foreign provisions. This annual limitation may result in the expiration of net operating losses before utilization. | ||||||||
Realization of the Company’s net deferred tax assets is dependent upon the Company’s ability to generate future taxable income in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences and net operating loss carryforwards. The valuation allowance increased approximately $2.5 million and $0.6 million ($3.0 million, less the removal of $2.4 million from discontinued operations) during the years ended December 31, 2014 and 2013, respectively. The increase was primarily related to increases in net operating loss carryovers, which the Company does not expect to realize. | ||||||||
(b) Uncertain Tax Positions | ||||||||
Accounting guidance for recognizing and measuring uncertain tax positions prescribes a threshold condition that a tax position must meet for any of the benefit of uncertain tax position to be recognized in the financial statements. The following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Balance, beginning of year | $ | (1,718,974 | ) | $ | (1,718,974 | ) | ||
Increase from prior year's tax positions | - | - | ||||||
Reduction resulting from the lapse of the statute of limitations | - | - | ||||||
Balance, end of year | $ | (1,718,974 | ) | $ | (1,718,974 | ) | ||
As of December 31, 2014 and 2013, the Company did not accrue any material interest and penalties. | ||||||||
The Company's United States income tax returns are subject to examination by the Internal Revenue Service for at least 2010 and later years. Due to the uncertainty regarding the filing of tax returns for years before 2007, it is possible that the Company is subject to examination by the IRS for earlier years. All of the Chinese tax returns for the Chinese operating companies are subject to examination by the Chinese tax authorities for all periods from the companies' inceptions in 2007 through 2014 as applicable. |
Contingencies_and_Commitments
Contingencies and Commitments | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Contingencies and Commitments [Text Block] | 18 | 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 December 31, 2014, the Company's potential minimum cash obligation to these employees was approximately $1,806,000. | |||||
(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 | $ | 816,641 | |||
2016 | 693,344 | ||||
2017 | 57,725 | ||||
Total | $ | 1,567,709 | |||
(c) Licensed Content Commitment | |||||
The Company is committed to paying content costs through 2016 as follows: | |||||
Years ending December 31, | Content Costs | ||||
2015 | $ | 2,143,000 | |||
2016 | 1,705,000 | ||||
Total | $ | 3,848,000 | |||
(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 | 12 Months Ended | |
Dec. 31, 2014 | ||
Concentration, Credit and Other Risks [Text Block] | 19 | 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 the Group consolidates 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. For example, there is substantial uncertainty regarding the Draft Foreign Investment Law, including, among others, what the actual content of the law will be as well as the adoption and effective date of the final form of the law. Administrative and court proceedings in China may also be protracted, resulting in substantial costs and diversion of resources and management attention. While such uncertainty exists, the Group cannot assure that the new laws, when it is adopted and becomes effective, and potential related administrative proceedings will not have a material and adverse effect on the Company's ability to control the affiliated entities through the contractual arrangements. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, and the Group’s legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Group’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 year ended December 31, 2014, two customers individually accounted for more than 10% of the Company’s revenue. Three customers individually accounted for 10% of the Company’s net accounts receivables as of December 31, 2014. | ||
For the year ended December 31, 2013, three customers individually accounted for more than 10% of the Company’s revenue. Three customers individually accounted for 10% of the Company’s net accounts receivables as of December 31, 2013. | ||
(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 year ended December 31, 2014, three 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 December 31, 2014. | ||
For the year ended December 31, 2013, four suppliers individually accounted for more than 10% of the Company’s cost of revenues. One supplier individually accounted for 10% of the Company’s accounts payable as of December 31, 2013. | ||
(d) Concentration of Credit Risks | ||
Financial instruments that potentially subject the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, accounts receivable and other receivables. As of December 31, 2014 and 2013, the Group’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 Group’s VOD content distribution partners. The risk with respect to accounts receivable is mitigated by regular credit evaluations that the Group performs on its distribution partners and its ongoing monitoring of outstanding balances. | ||
(e) Foreign Currency Risks | ||
A majority of the Group’s operating transactions are denominated in RMB and a significant portion of the Group’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 Group 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 | 12 Months Ended | |
Dec. 31, 2014 | ||
Defined Contribution Plan [Text Block] | 20 | 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 $31,000 and $45,000 for the years ended December 31, 2014 and 2013, respectively. |
Subsequent_Events
Subsequent Events | 12 Months Ended | |
Dec. 31, 2014 | ||
Subsequent Events [Text Block] | 21 | Subsequent Event |
On March 30, 2015, Marc Urbach and the Company entered into a retention and separation agreement, pursuant to which Mr. Urbach resigned as President and Chief Financial Officer of the Company, and from all other positions he holds with respect to the Company effective March 31, 2015. On the same date, Mr. Urbach and the Company entered into a consulting agreement for a period of six months commencing from March 31, 2015. Under these agreements, Mr. Urbach shall be entitled to receive a lump sum payment of his severance payment, all unpaid expenses, earned but unpaid bonuses and benefits from the Company and its employee benefit plans, in addition to a fixed consulting fee on a monthly basis from April 1 to September 30, 2015. All outstanding unvested options, warrants or restricted stock previously granted to Mr. Urbach also became fully vested on March 31, 2015. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Principles of Consolidation [Policy Text Block] | (a) Principles of Consolidation |
The consolidated financial statements include the accounts of YOU On Demand and (a) YOU On Demand’s wholly-owned subsidiary China Broadband, Ltd., ("CB Cayman"), (b) the wholly-owned subsidiary of CB Cayman: YOU On Demand (Asia) Limited (“YOD Hong Kong”, formerly Sinotop Group Limited), (c) YOD Hong Kong’s PRC subsidiary: YOU On Demand (Beijing) Technology Co., Ltd. (“YOD WFOE”), (d) YOD WFOE’s variable interest entity: Beijing Sino Top Scope Technology Co., Ltd.(“Sinotop Beijing”) and (e) Sinotop Beijing’s subsidiary Zhong Hai Shi Xun Information Technology Co., Ltd. (“Zhong Hai Video”). All material intercompany transactions and balances are eliminated upon consolidation. | |
Effective July 31, 2013, the Company sold its 51% interest in Jinan Broadband and as such, the operating results of Jinan Broadband was reported as discontinued operations in our consolidated statements of operations for the year ended December 31, 2013. Unless otherwise indicated, all disclosures and amounts in the Notes to the Consolidated Financial Statements relate to the Company’s continuing operations. | |
Basis of Presentation [Policy Text Block] | (b) Basis of Presentation |
The Company prepares and presents its consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). | |
Reclassifications | |
Certain amounts in the prior period presented have been reclassified to conform to the current period consolidated financial statement presentation. These reclassifications have no effect on previously reported consolidated net income or cash flows. | |
Long-term Equity Investments [Policy Text Block] | (c) Long-term Equity Investments |
Investments in entities where the Company can exercise significant influence, but not control, is classified as a long-term equity investment and accounted for using the equity method. Under the equity method, the investment is initially recorded at cost and adjusted for the Company’s share of undistributed earnings or losses of the investee. Investment losses are recognized until the investment is fully written down as the Company does not guarantee the investee’s obligations nor it is committed to provide additional funding. | |
Management regularly evaluates the carrying value of its long-term equity investments based on performance and the financial position of the investee, as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financings, projected and historical financial performance, cash flow forecasts and financing needs. An impairment charge is recorded when the carrying amount of the investment exceeds its fair value and the impairment is determined to be other-than-temporary. | |
As of and for the year ended December 31, 2014 and 2013, the Company’s long-term equity investments are comprised of the Company’s investment in Shandong Lushi Media Co., Ltd. (“Shandong Media”) and Hua Cheng Hu Dong (Beijing) Film and Television Communication Co., Ltd. (“Hua Cheng”), which are 30% and 39%, respectively, owned by Sinotop Beijing. | |
Use of Estimates [Policy Text Block] | (d) Use of Estimates |
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as the related disclosure of contingent assets and liabilities, at the date of the consolidated financial statements and during the reporting period. Actual results could differ from those estimates. | |
The most significant estimates relate to the useful lives of property and equipment and intangible assets subject to amortization, property and equipment, goodwill and intangible asset impairment assessments, allowance for doubtful accounts, fair value of financial instruments, share-based payments, contingent purchase consideration and warrant liabilities, and valuation allowance of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment made could be significant. | |
Foreign Currency Translation [Policy Text Block] | (e) Foreign Currency Translation |
The Company uses the United States dollar (“US$” or “USD”) as its reporting currency. The functional currency of YOU On Demand Holdings, Inc., CB Cayman and YOD Hong Kong is the USD while the functional currency of Sinotop Beijing, Zhonghai Video and YOD WFOE is Renminbi (“RMB”). In the consolidated financial statements, the financial information of the entities which uses RMB as their functional currency has been translated into USD. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at the historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive loss in the statement of comprehensive loss. | |
Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are re-measured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from re-measurement at year end are recognized in foreign currency exchange gain/(loss) in the consolidated statement of operations. | |
Cash and cash equivalents [Policy Text Block] | (f) Cash and Cash Equivalents |
Cash and cash equivalents consist of cash on hand and highly liquid investment securities with original maturities as of the date of purchase of three months or less. The Company deposits its cash balances with a limited number of banks. | |
Accounts Receivable [Policy Text Block] | (g) Accounts Receivable |
Accounts receivable are recognized at invoiced amounts, less an allowance for uncollectible accounts, if any. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company reviews the collectability of its receivables on an ongoing basis. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. | |
Property and Equipment [Policy Text Block] | (h) Property and Equipment |
Property and equipment are stated at cost less accumulated depreciation. Expenditures for major renewals and improvements, which extend the original estimated economic useful lives of applicable assets, are capitalized. Expenditures for normal repairs and maintenance are charged to expense as incurred. The costs and related accumulated depreciation of assets sold or retired are removed from the accounts and any gain or loss thereon is recognized in our statement of operations. Depreciation is provided for on a straight-line basis over the estimated useful lives of the respective assets. | |
Intangible Assets [Policy Text Block] | (j) Intangible Assets |
Intangible assets are stated at acquisition fair value or cost, less accumulated amortization. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment when an indicator for potential impairment exists. The Company is currently amortizing its intangible assets with definite lives over periods generally ranging between 5 to 20 years. The estimated useful lives are 20 years for the charter/cooperation agreements and 5 years for software licenses. | |
Website development costs [Policy Text Block] | (k) Website Development Costs |
Website development costs are stated at acquisition fair value or cost less accumulated amortization. The Company capitalizes website development costs associated with graphics design and development of the website application and infrastructure. Costs related to planning, content input, and website operations are expensed as incurred. The Company amortizes website development costs over three years. | |
Goodwill [Policy Text Block] | (l) Goodwill |
In accordance with Financial Accounting Standards Boards (“FASB”) Accounting Standards Codification (“ASC”) 350-20, Goodwill , the Company performs impairment test for its goodwill annually as of December 31, or more frequently, if indicators of potential impairment exist, to determine if the carrying value of goodwill is impaired. The Company reviews goodwill for impairment based on its identified reporting units, which are defined as reportable segments or groupings of businesses one level below the reportable segment level. In September 2011, the FASB issued amended guidance on testing goodwill for impairment. The guidance provides entities with an option to perform a qualitative assessment to determine whether further quantitative impairment testing is necessary, or to proceed directly to performing the first step of the goodwill impairment test. | |
Under the qualitative assessment, the Company would first assess qualitative factors to determine if it is more-likely-than-not the fair value of the reporting unit is less than its carrying value of the reporting unit’s assets and liabilities (including goodwill). If management determines that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value, or if management is unable to reach a conclusion based on qualitative assessments, then the first and second steps of the goodwill impairment is performed. | |
Under the quantitative assessment, if the two-step goodwill impairment test is required, the fair value of the reporting unit is first compared with its carrying amount (including goodwill). If the fair value of the reporting unit is less than its carrying amount, an indication of goodwill impairment exists for the reporting unit and the Company must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. If the fair value of the reporting unit exceeds its carrying amount, step two does not need to be performed. | |
For the purpose of goodwill impairment testing, the Company is considered as a reporting unit. Based on the annual goodwill impairment test performed in the fourth quarter of 2014 and 2013, management concluded that the fair value of the reporting unit exceeded its carrying value. No impairment loss was recognized for the periods presented. | |
Impairment of Long-Lived Assets [Policy Text Block] | (m) Impairment of Long-Lived Assets |
Long-lived assets, including property, equipment and, intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Impairment loss recognized for the year ended December 31, 2014 and 2013 amounted to nil and $311,000, respectively. | |
Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale are presented separately in the appropriate asset and liability sections of the balance sheet. | |
Warrant Liabilities [Policy Text Block] | (n) Warrant Liabilities |
We account for derivative instruments and embedded derivative instruments in accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities , as amended. The amended standard requires an entity to recognize all derivatives as either assets or liabilities in the statement of financial position and measure these instruments at fair value. Fair value is estimated using the Monte Carlo simulation method. | |
We also follow ASC 815-40 Accounting for Derivative Financial Instruments Indexed to and Potentially Settled in, a Company’s Own Stock , which requires freestanding contracts that are settled in a company’s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under these provisions a contract classified as an asset or a liability must be carried at fair value, with any changes in fair value recorded in the results of operations. A contract classified as an equity instrument must be included in equity, with no fair value adjustments required. The asset/liability derivatives are valued on an annual basis using the Monte Carlo simulation method. Significant assumptions used in the valuation included exercise dates, fair value for our common stock, volatility of our common stock and a risk-free interest rate. Gains or losses on warrants are included in “Changes in fair value of warrant liabilities” in our consolidated statement of operations. | |
Advertising & Marketing Expense [Policy Text Block] | (o) Advertising & Marketing Expenses |
The Company expenses advertising and marketing costs as incurred, which are included in selling expense. Advertising and marketing costs were approximately $359,000 and $533,000 for the years ended December 31, 2014 and 2013, respectively. | |
Income Taxes [Policy Text Block] | (p) Income Taxes |
The Company accounts for income taxes in accordance with the asset and liability method. Deferred taxes are recognized for the future tax consequences attributable to temporary differences between the carrying amounts of assets and liabilities for financial statement purposes and income tax purposes using enacted rates expected to be in effect when such amounts are realized or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A tax valuation allowance is established, as needed to reduce net deferred tax assets to the amount expected to be realized. The Company also follows ASC 740-10 for accounting for uncertainty in income taxes. | |
The accounting for an uncertain tax position is a two-step process. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. | |
Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. | |
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes in our consolidated statements of operation. | |
Revenue Recognition [Policy Text Block] | (q) Revenue Recognition |
Revenue is recorded as services are provided. The Company generally recognizes all revenues in the period in which the service is rendered, provided that persuasive evidence of an arrangement exists, the sales price is fixed or determinable, and collection is reasonably assured. For certain contracts that involve sub-licensing content within the specified license period, revenue is recognized in accordance with ASC Subtopic 926-605, Entertainment-Films – Revenue Recognition . That is, if the arrangement includes a nonrefundable minimum guarantee, all contents have been delivered in accordance with the terms of the arrangement and there are no substantive future obligations from the Company, then revenue is recognized upon delivery. The Company records deferred revenue for payments received from customers for the performance of future services and recognize the associated revenue in the period that the services are performed. | |
In accordance with ASC 605-25, Revenue Recognition – Multiple Element Arrangements , contracts with multiple element deliverables are separated into individual units for accounting purposes when the unit determined to have standalone value to the customer and performance of service is considered probable. Since the contract price is for all deliverables, the Company allocates the arrangement consideration to all deliverables at the inception of the arrangement on the basis of their relative selling price. Revenue related to each unit is recognized when the Company’s obligations under the contract have been satisfied and all revenue recognition criteria are met. | |
Net Loss Per Share Attributable to YOU On Demand Shareholders [Policy Text Block] | (r) Net Loss Per Share Attributable to YOU On Demand Shareholders |
Basic and Diluted net loss per share attributable to YOU On Demand shareholders have been computed by dividing the net loss by the weighted average number of common shares outstanding. The assumed exercise of dilutive warrants, less the number of treasury shares assumed to be purchased from the proceeds of such exercises using the average market price of the Company’s common stock during each respective period, have been excluded from the calculation of diluted net loss per share for all periods presented as their effect would be anti-dilutive. | |
Share-Based Payment [Policy Text Block] | (s) Share-Based Payment |
The Company awards share options and other equity-based instruments to its employees, directors and consultants (collectively “share-based payments”). Compensation cost related to such awards is measured based on the fair value of the instrument on the grant date and recognizes the cost over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. The amount of cost recognized is adjusted to reflect the expected forfeiture prior to vesting. When no future services are required to be performed by the employee in exchange for an award of equity instruments, and if such award does not contain a performance or market condition, the cost of the award is expensed on the grant date. The Company recognizes compensation cost for an award with only service conditions that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, provided that the cumulative amount of compensation cost recognized at any date at least equals the portion of the grant-date value of such award that is vested at that date. | |
The Company also awards stocks and warrants for service to consultants for service and accounts for these awards under ASC 505-50, Equity – Equity-Based Payments to Non-Employees . Under the applicable guidance, fair value of the awards is assessed upon measurement date and recognized as cost or expenses when the services are provided. If the related services are completed upon issuance date, measurement date is determined to be the date the awards are issued. | |
Reportable Segment [Policy Text Block] | (t) Reportable Segment |
The Company has one operating business segment, video content and media, in which the chief operating decision maker reviews the operating results of the segment to determine the allocation of resources and the measuring of performance. | |
Recent Accounting Pronouncements [Policy Text Block] | (u) Recent Accounting Pronouncements |
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU) 2014-09, creating a new Topic 606, Revenue from Contracts with Customers , to supersede the revenue recognition under current Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. The guidance also specifies the accounting for some costs to obtain or fulfill a contract with a customer, as well as disclosure requirements for qualitative and quantitative information that should be included in financial statements. For public entities, the amendment becomes effective for annual or interim reporting periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact on its consolidated financial statement of adopting this guidance. |
VIE_Structure_and_Arrangements1
VIE Structure and Arrangements (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Statement of Financial Position [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 506,525 | $ | 3,074,107 | ||||
Accounts receivable, net | 1,091,076 | 166,374 | ||||||
Licensed content, current | 1,041,609 | 277,997 | ||||||
Prepaid expenses | 105,918 | 251,203 | ||||||
Other current assets | 12,811 | 1,458 | ||||||
Intercompany receivables due from the Company's subsidiaries (i) | 572,192 | 783,988 | ||||||
Total current assets | 3,330,131 | 4,555,127 | ||||||
Property and equipment, net | 297,898 | 410,642 | ||||||
Licensed content, non-current | 35,648 | 12,319 | ||||||
Intangible assets, net | 5,291 | 9,538 | ||||||
Long-term equity investments | 850,054 | 673,567 | ||||||
Other non-current assets | 272,657 | - | ||||||
Total assets | $ | 4,791,679 | $ | 5,661,193 | ||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 8,598 | $ | $3,043 | ||||
Deferred revenue | 13,431 | 68,969 | ||||||
Accrued expenses and other liabilities | 573,620 | 25,018 | ||||||
Accrued license fees | 348,007 | 1,200,764 | ||||||
Intercompany payables due to the Company's subsidiaries (i) | 11,200,536 | 8,636,434 | ||||||
Total current liabilities | 12,144,192 | 9,934,228 | ||||||
Total liabilities | $ | 12,144,192 | $ | 9,934,228 | ||||
Statement of Operation [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
Net revenue | $ | 1,962,622 | $ | 308,695 | ||||
Net loss | $ | (3,173,010 | ) | $ | (4,529,372 | ) | ||
Statement of Cash Flow [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
Net cash used in operating activities | $ | (2,284,452 | ) | $ | (1,233,993 | ) | ||
Net cash provided by/(used in) investing activities | $ | (278,469 | ) | $ | 3,672,829 | |||
Net cash provided by financing activities | $ | - | $ | 561,356 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Result from Discontinued Operations [Table Text Block] | December 31, | ||||
2013 | |||||
(7 months ) | |||||
Revenue | $ | 3,095,148 | |||
Net loss before income taxes and non-controlling interest | (360,795 | ) | |||
Income tax benefit | - | ||||
Net loss from discontinued operations | (360,795 | ) | |||
Plus: Net loss attributable to non-controlling interest | 176,790 | ||||
Net loss attributable to YOU On Demand shareholders | $ | (184,005 | ) |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property and Equipment [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
Furniture and office equipment | $ | 959,080 | $ | 965,568 | ||||
Leasehold improvements | 190,722 | 184,129 | ||||||
Total property and equipment | 1,149,802 | 1,149,697 | ||||||
Less: accumulated depreciation | (829,131 | ) | (649,839 | ) | ||||
Net carrying value | $ | 320,671 | $ | 499,858 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | 31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Gross Carrying | Accumulated | Net | Gross Carrying | Accumulated | Net | |||||||||||||||
Amount | Amortization | Balance | Amount | Amortization | Balance | |||||||||||||||
Charter/ Cooperation agreements | $ | 2,755,821 | $ | (608,580 | ) | $ | 2,147,241 | $ | 2,755,821 | $ | (470,789 | ) | $ | 2,285,032 | ||||||
Non-compete agreement | - | - | - | 3,637,512 | (3,637,512 | ) | - | |||||||||||||
Software and licenses | 253,930 | (215,358 | ) | 38,572 | 282,399 | (200,833 | ) | 81,566 | ||||||||||||
Website development | 356,425 | (356,425 | ) | - | 361,919 | (241,280 | ) | 120,639 | ||||||||||||
Total finite lived intangible assets | $ | 3,366,176 | $ | (1,180,363 | ) | $ | 2,185,813 | $ | 7,037,651 | $ | (4,550,414 | ) | $ | 2,487,237 | ||||||
Website name | 134,290 | - | 134,290 | 134,290 | - | 134,290 | ||||||||||||||
Total intangible assets | $ | 3,500,466 | $ | (1,180,363 | ) | $ | 2,320,103 | $ | 7,171,941 | $ | (4,550,414 | ) | $ | 2,621,527 | ||||||
Amortization Expense [Table Text Block] | Amortization to be | |||||||||||||||||||
Years ending December 31, | Recognized | |||||||||||||||||||
2015 | $ | 156,454 | ||||||||||||||||||
2016 | 154,589 | |||||||||||||||||||
2017 | 138,881 | |||||||||||||||||||
2018 | 138,881 | |||||||||||||||||||
2019 | 138,722 | |||||||||||||||||||
Thereafter | 1,458,286 | |||||||||||||||||||
Total amortization to be recognized | $ | 2,185,813 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||
Fair Value of the Warrant Liabilities [Table Text Block] | December 31, | December 31, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Risk-free interest rate | 1.04% | 1.19% | ||||||||||||||||||||||||||
Expected volatility | 70% | 70% | ||||||||||||||||||||||||||
Expected term (years) | 2.67 | 3.67 | ||||||||||||||||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||||||||||||||||
Fair Value of the Option Portion of our Contingent Purchase Consideration Liability [Table Text Block] | December 31, | |||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Risk-free interest rate | 1.27% | |||||||||||||||||||||||||||
Expected volatility | 70% | |||||||||||||||||||||||||||
Expected term (years) | 4 | |||||||||||||||||||||||||||
Expected dividend yield | 0% | |||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block] | 31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||
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 | Assets | |||||||||||||||||||||||||||
Warrant liabilities (see Note14) | $ | - $ | - $ | 585,050 | $ | 585,050 | Available-for-sale securities | $ | 1,371 | $ | - | $ | - | $ | 1,371 | |||||||||||||
Liabilities | ||||||||||||||||||||||||||||
Warrant liabilities (see Note14) | $ | - | $ | - | $ | 1,344,440 | $ | 1,344,440 | ||||||||||||||||||||
Contingent purchase price consideration (see | ||||||||||||||||||||||||||||
Note 11) | $ | - | $ | - | $ | 578,744 | $ | 578,744 | ||||||||||||||||||||
Components Effecting Change in Fair Value [Table Text Block] | Level 3 Assets and Liabilities | Level 3 Assets and Liabilities | ||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||
Change in | Change in | |||||||||||||||||||||||||||
January 1, | Fair Value | December 31, | January 1, | Fair Value | December 31, | |||||||||||||||||||||||
2014 | Settlements | loss | 2014 | 2013 | Settlements | loss | 2013 | |||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||||||
Warrant liabilities (see Note14) | $ | 1,344,440 | $ | (1,380,629 | ) | $ | 621,239 | $ | 585,050 | Warrant liabilities (see Note14) | $ | 878,380 | $ | - | $ | 466,060 | $ | 1,344,440 | ||||||||||
Contingent purchase price consideration (see Note 11) | $ | 578,744 | $ | (739,510 | ) | $ | 160,766 | $ | - | Contingent purchase price consideration (see Note 11) | $ | 737,256 | $ | (410,475 | ) | $ | 251,963 | $ | 578,744 | |||||||||
Quantitative Information about Level 3 Fair Value Measurements [Table Text Block] | Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||
Fair Value at | Valuation | Unobservable | Fair Value at | Valuation | Unobservable | |||||||||||||||||||||||
12/31/14 | Techniques | Inputs | Input | 12/31/13 | Techniques | Inputs | Input | |||||||||||||||||||||
Warrant liabilities | $ | 585,050 | Monte Carlo Simulation Model | Risk-free rate of interest | 1.04% | Warrant liabilities | $ | 1,344,440 | Monte Carlo Simulation Model | Risk-free rate of interest | 1.19% | |||||||||||||||||
Expected volatility | 70% | Expected volatility | 70% | |||||||||||||||||||||||||
Expected term (years) | 2.67 | Expected term (years) | 3.67 | |||||||||||||||||||||||||
Expected dividend yield | 0% | Expected dividend yield | 0% | |||||||||||||||||||||||||
Contingent consideration | $ | 578,744 | Black-Scholes Merton Model | Risk-free rate of interest | 1.27% | |||||||||||||||||||||||
Expected volatility | 70% | |||||||||||||||||||||||||||
Expected term (years) | 4 | |||||||||||||||||||||||||||
Expected dividend yield | 0% |
ShareBased_Payments_Tables
Share-Based Payments (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share Based Payments Expense [Table Text Block] | December 31, | December,31 | ||||||||||||
2014 | 2013 | |||||||||||||
Employees and directors share-based payments | $ | 1,340,000 | $ | 540,000 | (i) | |||||||||
Cost of stock option price reduction | - | 55,000 | (ii) | |||||||||||
Stock issued for services | - | 442,000 | (iii) | |||||||||||
Stock warrants issued for services | - | 109,000 | (iv) | |||||||||||
$ | 1,340,000 | $ | 1,146,000 | |||||||||||
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, 2014 | 1,878,835 | $ | 2.64 | |||||||||||
Granted | 62,999 | 3.15 | ||||||||||||
Exercised | (46,727 | ) | 1.94 | |||||||||||
Expired | (12,862 | ) | 1.89 | |||||||||||
Forfeited | (82,019 | ) | 1.75 | |||||||||||
Outstanding at December 31, 2014 | 1,800,226 | $ | 2.73 | 6.68 | $ | 156,572 | ||||||||
Vested and expected to be vested as of December 31, 2014 | 1,800,226 | $ | 2.73 | 6.68 | $ | 156,572 | ||||||||
Options exercisable at December 31, 2014 (vested) | 1,544,752 | $ | 2.86 | 6.38 | $ | 69,743 | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | December,31 | December,31 | ||||||||||||
2014 | 2013 | |||||||||||||
Exercise multiple | 2.52 ~ 2.91 | 1.65 | ||||||||||||
Expected term | 10 years | 10 years | ||||||||||||
Expected volatility | 70% | 70% | ||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||
Risk free interest rate | 1.43%~ 2.66% | 2.66% | ||||||||||||
Fair value | 1.33 ~ 2.23 | 1.26 | ||||||||||||
Warrants Outstanding [Table Text Block] | 2014 | 2013 | ||||||||||||
Number of | Number of | |||||||||||||
Warrants | Warrants | Exercise | Expiration | |||||||||||
Warrants Outstanding | Outstanding | Outstanding | Price | Date | ||||||||||
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 | 977,063 | $ | 1.5 | 8/30/17 | |||||||||
2013 Service Agreement Warrants | - | 166,667 | $ | 2 | 2/26/18 | |||||||||
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 | - | $ | 1.75 | 1/31/19 | |||||||||
2,191,487 | 1,713,253 |
Net_Loss_Per_Common_Share_Tabl
Net Loss Per Common Share (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
Warrants | 2,191,487 | 1,713,253 | ||||||
Options | 1,800,226 | 1,878,835 | ||||||
Series A Preferred Stock | 933,333 | 933,333 | ||||||
Series C Preferred Stock | - | 140,000 | ||||||
Series D 4% Preferred Stock | - | 2,320,434 | ||||||
Series E Preferred Stock | 7,365,283 | - | ||||||
Convertible promissory notes | 1,895,765 | 2,977,315 | ||||||
Total | 14,186,094 | 9,963,170 | ||||||
Unissued Common Stock for Possible Future Issuance [Table Text Block] | December 31, | December 31, | ||||||
2014 | 2013 | |||||||
Exercise of stock warrants | 2,191,487 | 1,713,253 | ||||||
Exercise and future grants of stock options | 3,986,074 | 4,023,871 | ||||||
Conversion of preferred stock | 8,298,616 | 3,393,767 | ||||||
Contingent issuable shares in connection with YOD Hong Kong acquisition | - | 245,274 | ||||||
Issuable shares from conversion of promissory notes payable | 1,895,765 | 2,977,315 | ||||||
Total | 16,371,942 | 12,353,480 |
Contingencies_and_Commitments_
Contingencies and Commitments (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Leased Property Costs [Table Text Block] | Leased Property | ||||
Years ending December 31, | Costs | ||||
2015 | $ | 816,641 | |||
2016 | 693,344 | ||||
2017 | 57,725 | ||||
Total | $ | 1,567,709 | |||
Leased Content Commitment [Table Text Block] | Years ending December 31, | Content Costs | |||
2015 | $ | 2,143,000 | |||
2016 | 1,705,000 | ||||
Total | $ | 3,848,000 |
Organization_and_Principal_Act1
Organization and Principal Activities (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Organization And Principal Activities 1 | 51.00% |
Organization And Principal Activities 2 | 51.00% |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Summary Of Significant Accounting Policies 1 | 51.00% |
Summary Of Significant Accounting Policies 2 | 30.00% |
Summary Of Significant Accounting Policies 3 | 39.00% |
Summary Of Significant Accounting Policies 4 | 5 |
Summary Of Significant Accounting Policies 5 | 20 |
Summary Of Significant Accounting Policies 6 | 20 |
Summary Of Significant Accounting Policies 7 | 5 |
Summary Of Significant Accounting Policies 8 | 0 |
Summary Of Significant Accounting Policies 9 | $311,000 |
Summary Of Significant Accounting Policies 10 | 359,000 |
Summary Of Significant Accounting Policies 11 | $533,000 |
Summary Of Significant Accounting Policies 12 | 50.00% |
Going_Concern_and_Managements_1
Going Concern and Management's Plans (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Going Concern And Management's Plans 1 | $13 |
Going Concern And Management's Plans 2 | 13.1 |
Going Concern And Management's Plans 3 | 10.2 |
Going Concern And Management's Plans 4 | 8.8 |
Going Concern And Management's Plans 5 | 78.4 |
Going Concern And Management's Plans 6 | 65,900,000 |
Going Concern And Management's Plans 7 | 19 |
Going Concern And Management's Plans 8 | 50 |
Going Concern And Management's Plans 9 | $47.30 |
VIE_Structure_and_Arrangements2
VIE Structure and Arrangements (Narrative) (Details) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 |
USD ($) | 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 | $2.60 |
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | CNY | |
Discontinued Operations 1 | 51.00% | 51.00% |
Discontinued Operations 2 | 29,000,000 | |
Discontinued Operations 3 | 5,000,000 | |
Discontinued Operations 4 | 811,000 | |
Discontinued Operations 5 | 24,000,000 | |
Discontinued Operations 6 | $3,920,000 |
Sales_of_WFOE_and_Dissolution_1
Sales of WFOE and Dissolution of Jinan Zhong Kuan (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Sales Of Wfoe And Dissolution Of Jinan Zhong Kuan 1 | $50,000 |
LongTerm_Equity_Investment_Nar
Long-Term Equity Investment (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | CNY | |
Long-term Equity Investment 1 | 30.00% | 30.00% |
Long-term Equity Investment 2 | 5,044,200 | |
Long-term Equity Investment 3 | 9,330,000 | |
Long-term Equity Investment 4 | 1,285,800 | |
Long-term Equity Investment 5 | $208,760 | |
Long-term Equity Investment 6 | 30.00% | 30.00% |
Property_and_Equipment_Narrati
Property and Equipment (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property And Equipment 1 | $233,000 |
Property And Equipment 2 | $275,000 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Intangible Assets 1 | 5 |
Intangible Assets 2 | $304,000 |
Intangible Assets 3 | $499,000 |
YOD_Hong_Kong_Contingent_Consi1
YOD Hong Kong Contingent Consideration (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Yod Hong Kong Contingent Consideration 1 | 403,820 |
Yod Hong Kong Contingent Consideration 2 | 571,275 |
Yod Hong Kong Contingent Consideration 3 | 80,000 |
Yod Hong Kong Contingent Consideration 4 | 5.00% |
Yod Hong Kong Contingent Consideration 5 | 3,000,000 |
Yod Hong Kong Contingent Consideration 6 | 11,000,000 |
Yod Hong Kong Contingent Consideration 7 | 30,000,000 |
Yod Hong Kong Contingent Consideration 8 | 332,002 |
Yod Hong Kong Contingent Consideration 9 | 735,822 |
Yod Hong Kong Contingent Consideration 10 | 80,000 |
Yod Hong Kong Contingent Consideration 11 | $2,750,966 |
Yod Hong Kong Contingent Consideration 12 | 161,000 |
Yod Hong Kong Contingent Consideration 13 | $252,000 |
Yod Hong Kong Contingent Consideration 14 | 11,000,000 |
Yod Hong Kong Contingent Consideration 15 | 490,548 |
Yod Hong Kong Contingent Consideration 16 | 53,334 |
Yod Hong Kong Contingent Consideration 17 | 30,000,000 |
Yod Hong Kong Contingent Consideration 18 | 245,274 |
Yod Hong Kong Contingent Consideration 19 | 26,666 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions 1 | $3,000,000 |
Related Party Transactions 2 | 3,000,000 |
Related Party Transactions 3 | 4.75 |
Related Party Transactions 4 | 4.75 |
Related Party Transactions 5 | 20 |
Related Party Transactions 6 | 14 |
Related Party Transactions 7 | 2 |
Related Party Transactions 8 | 1.75 |
Related Party Transactions 9 | 2,126,000 |
Related Party Transactions 10 | 1.75 |
Related Party Transactions 11 | 2,444,000 |
Related Party Transactions 12 | 120,000 |
Related Party Transactions 13 | 40,000 |
Related Party Transactions 14 | 150,000 |
Related Party Transactions 15 | 150,000 |
Related Party Transactions 16 | 163,000 |
Related Party Transactions 17 | 161,000 |
Related Party Transactions 18 | $50,000 |
Series_D_and_Series_E_Preferre1
Series D and Series E Preferred Stock Financing and Convertible Note (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
D | |
Y | |
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 | 849,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 10 | 228,571 |
Series D And Series E Preferred Stock Financing And Convertible Note 11 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 12 | 5 |
Series D And Series E Preferred Stock Financing And Convertible Note 13 | 0.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 14 | 70.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 15 | 1.60% |
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 | 247,995 |
Series D And Series E Preferred Stock Financing And Convertible Note 18 | 1,097,041 |
Series D And Series E Preferred Stock Financing And Convertible Note 19 | 183,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 20 | 183,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 21 | 2,651,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 22 | 4.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 23 | 92,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 24 | 2,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 25 | 4.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 26 | 30 |
Series D And Series E Preferred Stock Financing And Convertible Note 27 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 28 | 370,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 29 | 129,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 30 | 241,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 31 | 241,936 |
Series D And Series E Preferred Stock Financing And Convertible Note 32 | 114,285 |
Series D And Series E Preferred Stock Financing And Convertible Note 33 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 34 | 5 |
Series D And Series E Preferred Stock Financing And Convertible Note 35 | 0.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 36 | 70.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 37 | 1.36% |
Series D And Series E Preferred Stock Financing And Convertible Note 38 | 1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 39 | 128,072 |
Series D And Series E Preferred Stock Financing And Convertible Note 40 | 14,285,714 |
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 | 25,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 43 | 14,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 44 | 1,142,857 |
Series D And Series E Preferred Stock Financing And Convertible Note 45 | 2,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 46 | 10,857,143 |
Series D And Series E Preferred Stock Financing And Convertible Note 47 | 19,000,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 48 | 2,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 49 | 2,285,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 50 | 4,552,347 |
Series D And Series E Preferred Stock Financing And Convertible Note 51 | 2,386,000 |
Series D And Series E Preferred Stock Financing And Convertible Note 52 | 1,085,714 |
Series D And Series E Preferred Stock Financing And Convertible Note 53 | $1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 54 | 5 |
Series D And Series E Preferred Stock Financing And Convertible Note 55 | 0.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 56 | 70.00% |
Series D And Series E Preferred Stock Financing And Convertible Note 57 | 1.49% |
Series D And Series E Preferred Stock Financing And Convertible Note 58 | 1.75 |
Series D And Series E Preferred Stock Financing And Convertible Note 59 | 2,166,296 |
Series D And Series E Preferred Stock Financing And Convertible Note 60 | $16,402,000 |
Warrant_Liabilities_Narrative_
Warrant Liabilities (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Warrant Liabilities 1 | 977,063 |
Warrant Liabilities 2 | $1,525,000 |
Warrant Liabilities 3 | 585,000 |
Warrant Liabilities 4 | 1,344,000 |
Warrant Liabilities 5 | 621,000 |
Warrant Liabilities 6 | 440,813 |
Warrant Liabilities 7 | 1.5 |
Warrant Liabilities 8 | $661,000 |
ShareBased_Payments_Narrative_
Share-Based Payments (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Share-based Payments 1 | 1,800,226 |
Share-based Payments 2 | 2,191,487 |
Share-based Payments 3 | 701,167 |
Share-based Payments 4 | $2 |
Share-based Payments 5 | 55,000 |
Share-based Payments 6 | 30 |
Share-based Payments 7 | 60,501 |
Share-based Payments 8 | 442,000 |
Share-based Payments 9 | 166,677 |
Share-based Payments 10 | 6,667 |
Share-based Payments 11 | 109,000 |
Share-based Payments 12 | 4,000,000 |
Share-based Payments 13 | 2,003,297 |
Share-based Payments 14 | 1.7 |
Share-based Payments 15 | 1.26 |
Share-based Payments 16 | 27,820 |
Share-based Payments 17 | 1,636 |
Share-based Payments 18 | 422,000 |
Share-based Payments 19 | 2.34 |
Share-based Payments 20 | 619,000 |
Share-based Payments 21 | 540,000 |
Share-based Payments 22 | $2.20 |
Share-based Payments 23 | 3.39 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes 1 | 16.50% |
Income Taxes 2 | 25.00% |
Income Taxes 3 | 10.00% |
Income Taxes 4 | 5.00% |
Income Taxes 5 | 34.00% |
Income Taxes 6 | $21,700,000 |
Income Taxes 7 | 1,700,000 |
Income Taxes 8 | 11,200,000 |
Income Taxes 9 | 165,000 |
Income Taxes 10 | 2,500,000 |
Income Taxes 11 | 600,000 |
Income Taxes 12 | 3,000,000 |
Income Taxes 13 | $2,400,000 |
Contingencies_and_Commitments_1
Contingencies and Commitments (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Contingencies And Commitments 1 | $1,806,000 |
Concentration_Credit_and_Other1
Concentration, Credit and Other Risks (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
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 $) | 12 Months Ended |
Dec. 31, 2014 | |
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 | $31,000 |
Defined Contribution Plan 6 | $45,000 |
Statement_of_Financial_Positio
Statement of Financial Position (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Vie Structure And Arrangements Statement Of Financial Position 1 | $506,525 |
Vie Structure And Arrangements Statement Of Financial Position 2 | 3,074,107 |
Vie Structure And Arrangements Statement Of Financial Position 3 | 1,091,076 |
Vie Structure And Arrangements Statement Of Financial Position 4 | 166,374 |
Vie Structure And Arrangements Statement Of Financial Position 5 | 1,041,609 |
Vie Structure And Arrangements Statement Of Financial Position 6 | 277,997 |
Vie Structure And Arrangements Statement Of Financial Position 7 | 105,918 |
Vie Structure And Arrangements Statement Of Financial Position 8 | 251,203 |
Vie Structure And Arrangements Statement Of Financial Position 9 | 12,811 |
Vie Structure And Arrangements Statement Of Financial Position 10 | 1,458 |
Vie Structure And Arrangements Statement Of Financial Position 11 | 572,192 |
Vie Structure And Arrangements Statement Of Financial Position 12 | 783,988 |
Vie Structure And Arrangements Statement Of Financial Position 13 | 3,330,131 |
Vie Structure And Arrangements Statement Of Financial Position 14 | 4,555,127 |
Vie Structure And Arrangements Statement Of Financial Position 15 | 297,898 |
Vie Structure And Arrangements Statement Of Financial Position 16 | 410,642 |
Vie Structure And Arrangements Statement Of Financial Position 17 | 35,648 |
Vie Structure And Arrangements Statement Of Financial Position 18 | 12,319 |
Vie Structure And Arrangements Statement Of Financial Position 19 | 5,291 |
Vie Structure And Arrangements Statement Of Financial Position 20 | 9,538 |
Vie Structure And Arrangements Statement Of Financial Position 21 | 850,054 |
Vie Structure And Arrangements Statement Of Financial Position 22 | 673,567 |
Vie Structure And Arrangements Statement Of Financial Position 23 | 272,657 |
Vie Structure And Arrangements Statement Of Financial Position 24 | 0 |
Vie Structure And Arrangements Statement Of Financial Position 25 | 4,791,679 |
Vie Structure And Arrangements Statement Of Financial Position 26 | 5,661,193 |
Vie Structure And Arrangements Statement Of Financial Position 27 | 8,598 |
Vie Structure And Arrangements Statement Of Financial Position 28 | 3,043 |
Vie Structure And Arrangements Statement Of Financial Position 29 | 13,431 |
Vie Structure And Arrangements Statement Of Financial Position 30 | 68,969 |
Vie Structure And Arrangements Statement Of Financial Position 31 | 573,620 |
Vie Structure And Arrangements Statement Of Financial Position 32 | 25,018 |
Vie Structure And Arrangements Statement Of Financial Position 33 | 348,007 |
Vie Structure And Arrangements Statement Of Financial Position 34 | 1,200,764 |
Vie Structure And Arrangements Statement Of Financial Position 35 | 11,200,536 |
Vie Structure And Arrangements Statement Of Financial Position 36 | 8,636,434 |
Vie Structure And Arrangements Statement Of Financial Position 37 | 12,144,192 |
Vie Structure And Arrangements Statement Of Financial Position 38 | 9,934,228 |
Vie Structure And Arrangements Statement Of Financial Position 39 | 12,144,192 |
Vie Structure And Arrangements Statement Of Financial Position 40 | $9,934,228 |
Statement_of_Operation_Details
Statement of Operation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Vie Structure And Arrangements Statement Of Operation 1 | $1,962,622 |
Vie Structure And Arrangements Statement Of Operation 2 | 308,695 |
Vie Structure And Arrangements Statement Of Operation 3 | -3,173,010 |
Vie Structure And Arrangements Statement Of Operation 4 | ($4,529,372) |
Statement_of_Cash_Flow_Details
Statement of Cash Flow (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Vie Structure And Arrangements Statement Of Cash Flow 1 | ($2,284,452) |
Vie Structure And Arrangements Statement Of Cash Flow 2 | -1,233,993 |
Vie Structure And Arrangements Statement Of Cash Flow 3 | -278,469 |
Vie Structure And Arrangements Statement Of Cash Flow 4 | 3,672,829 |
Vie Structure And Arrangements Statement Of Cash Flow 5 | 0 |
Vie Structure And Arrangements Statement Of Cash Flow 6 | $561,356 |
Result_from_Discontinued_Opera
Result from Discontinued Operations (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
M | |
Discontinued Operations Result From Discontinued Operations 1 | -7 |
Discontinued Operations Result From Discontinued Operations 2 | $3,095,148 |
Discontinued Operations Result From Discontinued Operations 3 | -360,795 |
Discontinued Operations Result From Discontinued Operations 4 | 0 |
Discontinued Operations Result From Discontinued Operations 5 | -360,795 |
Discontinued Operations Result From Discontinued Operations 6 | 176,790 |
Discontinued Operations Result From Discontinued Operations 7 | ($184,005) |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property And Equipment Property And Equipment 1 | $959,080 |
Property And Equipment Property And Equipment 2 | 965,568 |
Property And Equipment Property And Equipment 3 | 190,722 |
Property And Equipment Property And Equipment 4 | 184,129 |
Property And Equipment Property And Equipment 5 | 1,149,802 |
Property And Equipment Property And Equipment 6 | 1,149,697 |
Property And Equipment Property And Equipment 7 | -829,131 |
Property And Equipment Property And Equipment 8 | -649,839 |
Property And Equipment Property And Equipment 9 | 320,671 |
Property And Equipment Property And Equipment 10 | $499,858 |
Schedule_of_Intangible_Assets_
Schedule of Intangible Assets and Goodwill (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Intangible Assets Schedule Of Intangible Assets And Goodwill 1 | $2,755,821 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 2 | -608,580 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 3 | 2,147,241 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 4 | 2,755,821 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 5 | -470,789 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 6 | 2,285,032 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 7 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 8 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 9 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 10 | 3,637,512 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 11 | -3,637,512 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 12 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 13 | 253,930 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 14 | -215,358 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 15 | 38,572 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 16 | 282,399 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 17 | -200,833 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 18 | 81,566 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 19 | 356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 20 | -356,425 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 21 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 22 | 361,919 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 23 | -241,280 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 24 | 120,639 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 25 | 3,366,176 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 26 | -1,180,363 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 27 | 2,185,813 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 28 | 7,037,651 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 29 | -4,550,414 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 30 | 2,487,237 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 31 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 32 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 33 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 34 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 35 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 36 | 134,290 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 37 | 3,500,466 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 38 | -1,180,363 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 39 | 2,320,103 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 40 | 7,171,941 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 41 | -4,550,414 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 42 | $2,621,527 |
Amortization_Expense_Details
Amortization Expense (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Intangible Assets Amortization Expense 1 | $156,454 |
Intangible Assets Amortization Expense 2 | 154,589 |
Intangible Assets Amortization Expense 3 | 138,881 |
Intangible Assets Amortization Expense 4 | 138,881 |
Intangible Assets Amortization Expense 5 | 138,722 |
Intangible Assets Amortization Expense 6 | 1,458,286 |
Intangible Assets Amortization Expense 7 | $2,185,813 |
Fair_Value_of_the_Warrant_Liab
Fair Value of the Warrant Liabilities (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Fair Value Measurements Fair Value Of The Warrant Liabilities 1 | 1.04% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 2 | 1.19% |
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 | 2.67 |
Fair Value Measurements Fair Value Of The Warrant Liabilities 6 | 3.67 |
Fair Value Measurements Fair Value Of The Warrant Liabilities 7 | 0.00% |
Fair Value Measurements Fair Value Of The Warrant Liabilities 8 | 0.00% |
Fair_Value_of_the_Option_Porti
Fair Value of the Option Portion of our Contingent Purchase Consideration Liability (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Fair Value Measurements Fair Value Of The Option Portion Of Our Contingent Purchase Consideration Liability 1 | 1.27% |
Fair Value Measurements Fair Value Of The Option Portion Of Our Contingent Purchase Consideration Liability 2 | 70.00% |
Fair Value Measurements Fair Value Of The Option Portion Of Our Contingent Purchase Consideration Liability 3 | 4 |
Fair Value Measurements Fair Value Of The Option Portion Of Our Contingent Purchase Consideration Liability 4 | 0.00% |
Assets_and_Liabilities_Measure
Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
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 $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value Measurements Components Effecting Change In Fair Value 1 | $1,344,440 | |
Fair Value Measurements Components Effecting Change In Fair Value 2 | -1,380,629 | |
Fair Value Measurements Components Effecting Change In Fair Value 3 | 621,239 | |
Fair Value Measurements Components Effecting Change In Fair Value 4 | 585,050 | |
Fair Value Measurements Components Effecting Change In Fair Value 5 | 578,744 | |
Fair Value Measurements Components Effecting Change In Fair Value 6 | -739,510 | |
Fair Value Measurements Components Effecting Change In Fair Value 7 | 160,766 | |
Fair Value Measurements Components Effecting Change In Fair Value 8 | 0 | |
Fair Value Measurements Components Effecting Change In Fair Value 1 | 878,380 | |
Fair Value Measurements Components Effecting Change In Fair Value 2 | 0 | |
Fair Value Measurements Components Effecting Change In Fair Value 3 | 466,060 | |
Fair Value Measurements Components Effecting Change In Fair Value 4 | 1,344,440 | |
Fair Value Measurements Components Effecting Change In Fair Value 5 | 737,256 | |
Fair Value Measurements Components Effecting Change In Fair Value 6 | -410,475 | |
Fair Value Measurements Components Effecting Change In Fair Value 7 | 251,963 | |
Fair Value Measurements Components Effecting Change In Fair Value 8 | $578,744 |
Quantitative_Information_about
Quantitative Information about Level 3 Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 1 | $585,050 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 2 | 1.04% | |
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 | 2.67 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 5 | 0.00% | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 1 | 1,344,440 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 2 | 1.19% | |
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 | 3.67 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 5 | 0.00% | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 6 | $578,744 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 7 | 1.27% | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 8 | 70.00% | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 9 | 4 | |
Fair Value Measurements Quantitative Information About Level 3 Fair Value Measurements 10 | 0.00% |
Share_Based_Payments_Expense_D
Share Based Payments Expense (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Share-based Payments Share Based Payments Expense 1 | $1,340,000 |
Share-based Payments Share Based Payments Expense 2 | 540,000 |
Share-based Payments Share Based Payments Expense 3 | 0 |
Share-based Payments Share Based Payments Expense 4 | 55,000 |
Share-based Payments Share Based Payments Expense 5 | 0 |
Share-based Payments Share Based Payments Expense 6 | 442,000 |
Share-based Payments Share Based Payments Expense 7 | 0 |
Share-based Payments Share Based Payments Expense 8 | 109,000 |
Share-based Payments Share Based Payments Expense 9 | 1,340,000 |
Share-based Payments Share Based Payments Expense 10 | $1,146,000 |
Stock_Option_Activity_Details
Stock Option Activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Share-based Payments Stock Option Activity 1 | $1,878,835 |
Share-based Payments Stock Option Activity 2 | 2.64 |
Share-based Payments Stock Option Activity 3 | 62,999 |
Share-based Payments Stock Option Activity 4 | 3.15 |
Share-based Payments Stock Option Activity 5 | -46,727 |
Share-based Payments Stock Option Activity 6 | 1.94 |
Share-based Payments Stock Option Activity 7 | -12,862 |
Share-based Payments Stock Option Activity 8 | 1.89 |
Share-based Payments Stock Option Activity 9 | -82,019 |
Share-based Payments Stock Option Activity 10 | 1.75 |
Share-based Payments Stock Option Activity 11 | 1,800,226 |
Share-based Payments Stock Option Activity 12 | 2.73 |
Share-based Payments Stock Option Activity 13 | 6.68 |
Share-based Payments Stock Option Activity 14 | 156,572 |
Share-based Payments Stock Option Activity 15 | 1,800,226 |
Share-based Payments Stock Option Activity 16 | 2.73 |
Share-based Payments Stock Option Activity 17 | 6.68 |
Share-based Payments Stock Option Activity 18 | 156,572 |
Share-based Payments Stock Option Activity 19 | 1,544,752 |
Share-based Payments Stock Option Activity 20 | 2.86 |
Share-based Payments Stock Option Activity 21 | 6.38 |
Share-based Payments Stock Option Activity 22 | $69,743 |
Schedule_of_Sharebased_Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 2.52 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 2.91 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 1.65 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 10 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 10 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 70.00% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 70.00% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 0.00% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 0.00% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 1.43% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 2.66% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 2.66% |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | 1.33 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 13 | 2.23 |
Share-based Payments Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 14 | 1.26 |
Warrants_Outstanding_Details
Warrants Outstanding (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
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 | 977,063 |
Share-based Payments Warrants Outstanding 9 | 1.5 |
Share-based Payments Warrants Outstanding 10 | 0 |
Share-based Payments Warrants Outstanding 11 | 166,667 |
Share-based Payments Warrants Outstanding 12 | 2 |
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 | 0 |
Share-based Payments Warrants Outstanding 21 | 1.75 |
Share-based Payments Warrants Outstanding 22 | 2,191,487 |
Share-based Payments Warrants Outstanding 23 | $1,713,253 |
Antidilutive_Securities_Exclud
Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
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 | 1,713,253 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 3 | 1,800,226 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 4 | 1,878,835 |
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 | 4.00% |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 10 | 0 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 11 | 2,320,434 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 12 | 7,365,283 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 13 | 0 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 14 | 1,895,765 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 15 | 2,977,315 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 16 | 14,186,094 |
Net Loss Per Common Share Antidilutive Securities Excluded From Computation Of Earnings Per Share 17 | $9,963,170 |
Unissued_Common_Stock_for_Poss
Unissued Common Stock for Possible Future Issuance (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
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 | 1,713,253 |
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 | 4,023,871 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 5 | 8,298,616 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 6 | 3,393,767 |
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 | 1,895,765 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 10 | 2,977,315 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 11 | 16,371,942 |
Net Loss Per Common Share Unissued Common Stock For Possible Future Issuance 12 | $12,353,480 |
Leased_Property_Costs_Details
Leased Property Costs (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Contingencies And Commitments Leased Property Costs 1 | $816,641 |
Contingencies And Commitments Leased Property Costs 2 | 693,344 |
Contingencies And Commitments Leased Property Costs 3 | 57,725 |
Contingencies And Commitments Leased Property Costs 4 | $1,567,709 |
Leased_Content_Commitment_Deta
Leased Content Commitment (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Contingencies And Commitments Leased Content Commitment 1 | $2,143,000 |
Contingencies And Commitments Leased Content Commitment 2 | 1,705,000 |
Contingencies And Commitments Leased Content Commitment 3 | $3,848,000 |