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Pareteum Corp – ‘10-Q/A’ for 9/30/14 – ‘EX-101.INS’

On:  Friday, 11/21/14, at 5:29pm ET   ·   For:  9/30/14   ·   Accession #:  1144204-14-70448   ·   File #:  1-35360

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/21/14  Pareteum Corp                     10-Q/A      9/30/14  104:8.7M                                   Toppan Merrill/FA

Amendment to Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q/A      Amendment to Quarterly Report                       HTML    395K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     34K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     34K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     30K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     30K 
69: R1          Document and Entity Information                     HTML     49K 
56: R2          Condensed Consolidated Balance Sheets               HTML    139K 
67: R3          Condensed Consolidated Balance Sheets               HTML     57K 
                (Parenthetical)                                                  
72: R4          Consolidated Statements of Comprehensive Loss       HTML     99K 
94: R5          Consolidated Statements of Cash Flows               HTML    149K 
58: R6          Reclassification of Changes to Prior Year           HTML     36K 
                Information                                                      
66: R7          Financial Condition                                 HTML     38K 
50: R8          Description of Business, Basis of Presentation and  HTML     48K 
                Principles of Consolidation                                      
40: R9          Significant Accounting Policies                     HTML     93K 
96: R10         Allowance for Doubtful Accounts                     HTML     32K 
74: R11         Prepaid Expenses and Other Current Assets           HTML     32K 
73: R12         Other Assets                                        HTML     36K 
80: R13         Property and Equipment                              HTML     60K 
81: R14         Intangible Assets                                   HTML     69K 
78: R15         Goodwill                                            HTML     42K 
82: R16         Overdraft and Loan Payable                          HTML     49K 
68: R17         Deferred Revenue                                    HTML     33K 
70: R18         Accrued expenses                                    HTML     43K 
76: R19         Conversion into Equity of the 2013 10% Related      HTML     44K 
                Party Convertible Note                                           
104: R20         10% 3rd Party Convertible Note                      HTML     57K  
89: R21         Registered Direct Offering and Warrant liabilities  HTML     41K 
62: R22         Fair Value Measurements                             HTML     56K 
75: R23         Obligations under Capital Leases                    HTML     47K 
64: R24         Loan from joint venture partner                     HTML     35K 
31: R25         Stockholders' Equity                                HTML     57K 
90: R26         Non-controlling Interest                            HTML     41K 
100: R27         Basic and Diluted Net Loss Per Share                HTML     41K  
45: R28         2006 Non-Qualified Stock and Option Compensation    HTML     92K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan                                                             
44: R29         Income Taxes                                        HTML     99K 
48: R30         Contingencies                                       HTML     36K 
49: R31         Geographic and Concentration Risk Information       HTML     52K 
51: R32         Subsequent Events                                   HTML     34K 
20: R33         Significant Accounting Policies (Policies)          HTML    150K 
87: R34         Property and Equipment (Tables)                     HTML     52K 
60: R35         Intangible Assets (Tables)                          HTML     69K 
63: R36         Goodwill (Tables)                                   HTML     40K 
35: R37         Overdraft and Loan Payable (Tables)                 HTML     44K 
103: R38         Accrued expenses (Tables)                           HTML     41K  
12: R39         10% 3rd Party Convertible Note (Tables)             HTML     45K 
53: R40         Fair Value Measurements (Tables)                    HTML     51K 
93: R41         Obligations under Capital Leases (Tables)           HTML     43K 
33: R42         Stockholders' Equity (Tables)                       HTML     42K 
43: R43         Non-controlling Interest (Tables)                   HTML     39K 
47: R44         Basic and Diluted Net Loss Per Share (Tables)       HTML     38K 
57: R45         2006 Non-Qualified Stock and Option Compensation    HTML     89K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan (Tables)                                                    
19: R46         Income Taxes (Tables)                               HTML    105K 
39: R47         Geographic and Concentration Risk Information       HTML     44K 
                (Tables)                                                         
14: R48         Reclassification of Changes to Prior Year           HTML     33K 
                Information (Details)                                            
92: R49         Financial Condition (Details)                       HTML     76K 
32: R50         Description of Business, Basis of Presentation and  HTML     39K 
                Principles of Consolidation (Details)                            
88: R51         Significant Accounting Policies (Details)           HTML     38K 
36: R52         Significant Accounting Policies (Fair Value         HTML     41K 
                Measurements) (Details)                                          
54: R53         Allowance for Doubtful Accounts (Details)           HTML     32K 
13: R54         Prepaid Expenses and Other Current Assets           HTML     35K 
                (Details)                                                        
17: R55         Other Assets (Details)                              HTML     49K 
46: R56         Property and Equipment (Details)                    HTML     59K 
24: R57         Intangible Assets (Details)                         HTML     43K 
97: R58         Intangible Assets (Additional Information)          HTML     32K 
                (Details)                                                        
59: R59         Intangible Assets (Estimated Future Amortization    HTML     48K 
                Expense Related to Intangible Assets) (Details)                  
79: R60         Goodwill (Details)                                  HTML     34K 
38: R61         Overdraft and Loan Payable (Details)                HTML     69K 
41: R62         Deferred Revenue (Details)                          HTML     32K 
86: R63         Accrued expenses (Details)                          HTML     49K 
83: R64         Conversion into Equity of the 2013 10% Related      HTML     63K 
                Party Convertible Note (Narrative) (Details)                     
61: R65         10% 3rd Party Convertible Note (Narrative)          HTML     58K 
                (Details)                                                        
85: R66         10% 3rd Party Convertible Note (Schedule of Note)   HTML     43K 
                (Details)                                                        
37: R67         Registered Direct Offering and Warrant liabilities  HTML     69K 
                (Details)                                                        
65: R68         Fair Value Measurements (Details)                   HTML     40K 
99: R69         Obligations under Capital Leases (Details)          HTML     57K 
16: R70         Loan from joint venture partner (Details)           HTML     45K 
30: R71         Stockholders' Equity (Narrative) (Details)          HTML     83K 
55: R72         Stockholders' Equity (Schedule of Warrants)         HTML     44K 
                (Details)                                                        
22: R73         Non-controlling Interest (Details)                  HTML     38K 
102: R74         Basic and Diluted Net Loss Per Share (Details)      HTML     36K  
34: R75         2006 Non-Qualified Stock and Option Compensation    HTML     50K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan (Reconciliation of Registered and Available                 
                Shares and or Options) (Details)                                 
25: R76         2006 Non-Qualified Stock and Option Compensation    HTML     45K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan (2008 Long-Term Incentive Plan) (Details)                   
29: R77         2006 Non-Qualified Stock and Option Compensation    HTML     77K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan (Common Stock Purchase Options, 2008 Long                   
                Term Incentive Plan) (Details)                                   
18: R78         2006 Non-Qualified Stock and Option Compensation    HTML     38K 
                Plan and 2008 Long Term Incentive Compensation                   
                Plan (Schedule of Stock-based Compensation                       
                Expense) (Details)                                               
21: R79         Income Taxes (Narrative) (Details)                  HTML     32K 
71: R80         Income Taxes (Schedule of Loss before Income Tax    HTML     38K 
                Provision) (Details)                                             
27: R81         Income Taxes (Schedule of Income Tax Expense        HTML     61K 
                (Benefit)) (Details)                                             
98: R82         Income Taxes (Reconciliation of the Provision for   HTML     49K 
                Income Taxes at the United States Federal                        
                Statutory Rate to the Foreign Income Tax Rate)                   
                (Details)                                                        
52: R83         Income Taxes (Schedule of Deferred Tax Assets)      HTML     39K 
                (Details)                                                        
77: R84         Income Taxes (Schedule of Operating Loss            HTML     38K 
                Carryforwards) (Details)                                         
84: R85         Income Taxes (Schedule of Unrecognized Tax          HTML     37K 
                Benefits) (Details)                                              
26: R86         Contingencies (Details)                             HTML     48K 
28: R87         Geographic and Concentration Risk Information       HTML     39K 
                (Schedule of Geographic Information) (Details)                   
95: R88         Geographic and Concentration Risk Information       HTML     34K 
                (Narrative) (Details)                                            
23: R89         Subsequent Events (Details)                         HTML     53K 
101: XML         IDEA XML File -- Filing Summary                      XML    157K  
15: EXCEL       IDEA Workbook of Financial Reports                  XLSX    201K 
42: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   1.17M 
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 8: EX-101.CAL  XBRL Calculations -- etak-20140930_cal               XML    234K 
 9: EX-101.DEF  XBRL Definitions -- etak-20140930_def                XML   1.16M 
10: EX-101.LAB  XBRL Labels -- etak-20140930_lab                     XML   2.75M 
11: EX-101.PRE  XBRL Presentations -- etak-20140930_pre              XML   1.59M 
 7: EX-101.SCH  XBRL Schema -- etak-20140930                         XSD    248K 
91: ZIP         XBRL Zipped Folder -- 0001144204-14-070448-xbrl      Zip    237K

‘EX-101.INS’   —   XBRL Instance — etak-20140930

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Description of Business, Basis of Presentation and Principles of Consolidation</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>Description of Business</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As a mobile S<font style=" color: #282828;">oftware Defined Network Architecture (Software DNA®)</font> vendor, Elephant Talk Communications Corp. and its subsidiaries (also referred to as “Elephant Talk”, “ET” and the “Company”) provide a <font>one</font> stop solution for a full suite of mobile, fixed and convergent telecommunications software services. The Company also provides layered security services for mission critical applications in the cloud, through its wholly owned subsidiary, ValidSoft UK Limited (“ValidSoft”).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Over the last decade, Elephant Talk has developed a comprehensive Mobile Enabling Platform, capable of hosting an integrated IT/BackOffice and Core Network for Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) on a fully outsourced basis. The Company's mobile enabling platform is either made available as an on premise solution or as a fully hosted service in ‘the cloud', depending on the individual needs of its MNO and MVNO/MVNE/MVNA partners. The Company's mobile security services supply telecommunications-based multi-factor mutual authentication, identity and transaction verification solutions for all electronic transaction channels. This integrated suite of security services provides mission critical applications in the cloud to customers in industries such as financial services, government benefits, and insurance, as well as electronic medical record providers and MNOs. The Company's services provide customers with tools to combat a variety of electronic fraud while at the same time protecting consumer privacy.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Basis of Presentation of Interim Periods</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The accompanying unaudited consolidated financial statements have been prepared in accordance with United States (“US”) generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and the regulations referred to therein. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and related notes as included the Company's Annual Report on Form 10-K for the year ended December 31, 2013, (the “Form 10-K”). These consolidated financial statements should be read in conjunction with the audited consolidated financial statements in the Form 10-K. In the opinion of management, the accompanying unaudited consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and contain all adjustments (which include only normal recurring adjustments) considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows as of and for the periods presented or future periods.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The results of operations for the three and nine months ended on September 30, 2014 are not necessarily indicative of the results to be expected for the entire year.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Principles of Consolidation</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The accompanying consolidated financial statements for September 30, 2014 and December 31, 2013 include the accounts of Elephant Talk Communications Corp. and its subsidiaries, specifically:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" width="100%" style=" font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 3%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 3%;"><font style=" font-family: Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 94%;"><font style=" font: 10pt Times New Roman, Times, Serif;">its wholly-owned subsidiary Elephant Talk Europe Holding B.V. and its wholly owned subsidiaries Elephant Talk Communications Luxembourg SA, Elephant Talk Communications Italy S.R.L., ET-Stream GmbH, Elephant Talk Business Services W.L.L., Guangzhou Elephant Talk Information Technology Limited, Elephant Talk Deutschland GmbH, Morodo Group Ltd., Elephant Talk Belgium BVBA, and the majority owned (<font>51</font>%) subsidiaries Elephant Talk Communications PRS U.K. Limited and (<font>51</font>%) ET-UTS NV;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family: Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Elephant Talk Europe Holding B.V.'s wholly-owned subsidiary Elephant Talk Communication Holding AG and its wholly-owned subsidiaries Elephant Talk Communications S.L.U., Elephant Talk Mobile Services B.V., Elephant Talk Telekom GmbH, Elephant Talk Communication Carrier Services GmbH, Elephant Talk Communication Schweiz GmbH, Elephant Talk Communication (Europe) GmbH and the majority owned (<font>51</font>%) subsidiary Elephant Talk Communications Premium Rate Services Netherlands B.V.;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family: Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Elephant Talk Telecomunicação do Brasil LTDA, owned <font>90</font>% by Elephant Talk Europe Holding B.V. and <font>10</font>% by Elephant Talk Communication Holding AG;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family: Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Elephant Talk Europe Holding B.V.'s majority (<font>100</font>%) owned subsidiary Elephant Talk Middle East & Africa (Holding) W.L.L., its wholly owned (<font>100</font>%) subsidiaries Elephant Talk Middle East & Africa (Holding) Jordan L.L.C., and its majority owned (<font>99</font>%) Elephant Talk Bahrain W.L.L.;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family: Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">its wholly-owned subsidiary Elephant Talk Limited (“ETL”) and its majority owned (<font>50.54</font>%) subsidiary Elephant Talk Middle East & Africa FZ-LLC and <font>100</font>% owned Elephant Talk Communications France S.A.S.;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" padding-right: 0.8pt; text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family: Symbol;">•</font></td> <td style=" padding-right: 0.8pt; text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">its wholly-owned subsidiary Elephant Talk North America, Corp;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-size: 10.0pt; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">its wholly-owned subsidiary ValidSoft Limited (Ireland) and its </font></font><font style=" font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns"><font style=" font-size: 10pt;">wholly-owned</font></font></font><font style=" font-size: 10.0pt; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns"> subsidiary ValidSoft UK Limited;</font></font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">its wholly-owned subsidiary Elephant Talk Group International B.V., based in The Netherlands, and</font></td> </tr> <tr> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns"><font style=" font-size: 10pt;">Its wholly-owned subsidiary ET de Mexico S.A.P.I. de C.V. and its wholly owned subsidiary (<font>99%</font>) Asesores Profesionales ETAK S. de RL. de C.V.</font></font></font></td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">All intercompany balances are eliminated in consolidation.</p> </div> </div>
</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
<us-gaap:MinorityInterestOwnershipPercentageByParent id="Tag15" contextRef="I2014_ElephantTalkTelecomunicacaoDoBrasilLtdaMember_ElephantTalkEuropeHoldingBvMember" unitRef="Pure" decimals="2"> 0.90 </us-gaap:MinorityInterestOwnershipPercentageByParent>
<us-gaap:MinorityInterestOwnershipPercentageByParent id="Tag16" contextRef="I2014_ElephantTalkTelecomunicacaoDoBrasilLtdaMember_ElephantTalkCommunicationHoldingAgMember" unitRef="Pure" decimals="2"> 0.10 </us-gaap:MinorityInterestOwnershipPercentageByParent>
<us-gaap:MinorityInterestOwnershipPercentageByParent id="Tag17" contextRef="C231" unitRef="Pure" decimals="2"> 0.99 </us-gaap:MinorityInterestOwnershipPercentageByParent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent id="Tag18" contextRef="I2014_22" unitRef="USD" decimals="0"> 0 </us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent id="Tag19" contextRef="I2013" unitRef="USD" decimals="0"> 7693 </us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag20" contextRef="I2013_AutomobilesMember" unitRef="USD" decimals="0"> 91580 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag21" contextRef="I2014_ConstructionInProgressMember" unitRef="USD" decimals="0"> 4732934 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag22" contextRef="I2013_ConstructionInProgressMember" unitRef="USD" decimals="0"> 2603731 </us-gaap:PropertyPlantAndEquipmentGross>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>5</font>. Allowance for Doubtful Accounts</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Accounts receivable are presented on the balance sheet net of estimated uncollectible amounts. The Company records an allowance for estimated uncollectible accounts in an amount of its estimated anticipated losses. Individual uncollectible accounts are written off against the allowance when collection of the individual accounts appears doubtful.  The Company recorded an allowance for doubtful accounts of $<font>0</font> and $<font>7,693</font> as of September 30, 2014 and December 31, 2013, respectively.</p> </div> </div>
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<etak:PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock id="Tag24" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>6</font>. Prepaid Expenses and Other Current Assets</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #FF33CC;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Prepaid expenses and other current assets amounted to $<font>2,319,310</font> as of September 30, 2014, compared with $<font>2,254,213</font> as of December 31, 2013. On September 30, 2014, $<font>741,544</font> of the prepaid expenses was related to prepaid Value Added Tax (“VAT”) and $<font>732,838</font> as of December 31, 2013.</p> </div> </div>
</etak:PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock>
<us-gaap:PrepaidExpenseAndOtherAssetsCurrent id="Tag25" contextRef="I2014_22" unitRef="USD" decimals="0"> 2319310 </us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
<us-gaap:PrepaidExpenseAndOtherAssetsCurrent id="Tag26" contextRef="I2013" unitRef="USD" decimals="0"> 2254213 </us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
<us-gaap:PrepaidTaxes id="Tag27" contextRef="I2014_22" unitRef="USD" decimals="0"> 741544 </us-gaap:PrepaidTaxes>
<us-gaap:PrepaidTaxes id="Tag28" contextRef="I2013" unitRef="USD" decimals="0"> 732838 </us-gaap:PrepaidTaxes>
<us-gaap:OtherAssetsNoncurrent id="Tag29" contextRef="I2014_22" unitRef="USD" decimals="0"> 1093977 </us-gaap:OtherAssetsNoncurrent>
<us-gaap:OtherAssetsNoncurrent id="Tag30" contextRef="I2013" unitRef="USD" decimals="0"> 1412408 </us-gaap:OtherAssetsNoncurrent>
<us-gaap:DepositsAssetsNoncurrent id="Tag31" contextRef="I2014_22" unitRef="USD" decimals="0"> 672487 </us-gaap:DepositsAssetsNoncurrent>
<us-gaap:DepositsAssetsNoncurrent id="Tag32" contextRef="I2013" unitRef="USD" decimals="0"> 771193 </us-gaap:DepositsAssetsNoncurrent>
<us-gaap:DebtIssuanceCosts id="Tag33" contextRef="D2013_20" unitRef="USD" decimals="0"> 636624 </us-gaap:DebtIssuanceCosts>
<us-gaap:DeferredFinanceCostsNet id="Tag34" contextRef="I2013" unitRef="USD" decimals="0"> 477673 </us-gaap:DeferredFinanceCostsNet>
<invest:InvestmentInterestRate id="Tag35" contextRef="D2014Q2YTD" unitRef="Pure" decimals="2"> 0.05 </invest:InvestmentInterestRate>
<etak:LoanToThirdParty id="Tag36" contextRef="D2014_1M_34" unitRef="USD" decimals="0"> 50000 </etak:LoanToThirdParty>
<us-gaap:LoansAndLeasesReceivableNetReportedAmount id="Tag37" contextRef="I2014_22" unitRef="USD" decimals="0"> 267063 </us-gaap:LoansAndLeasesReceivableNetReportedAmount>
<us-gaap:LoansAndLeasesReceivableNetReportedAmount id="Tag38" contextRef="I2013" unitRef="USD" decimals="0"> 163542 </us-gaap:LoansAndLeasesReceivableNetReportedAmount>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag39" contextRef="I2014_22" unitRef="USD" decimals="0"> 32851989 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag40" contextRef="I2013" unitRef="USD" decimals="0"> 35770150 </us-gaap:PropertyPlantAndEquipmentGross>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>7</font>. Other Assets</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Other assets are long-term in nature, and consist of long-term deposits, deferred financing costs<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>and loans to related parties</font> amounting to $<font>1,093,977</font> as of September 30, 2014, compared to $<font>1,412,408</font> as of December 31, 2013, broken down as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em><font style=" text-decoration: underline; font-size: 10pt;">Long-term Deposit</font></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014, there was $<font>672,487</font> in long-term deposits made to various telecom carriers during the course of operations and a deposit to the French Tax Authorities, compared with $<font>771,193</font> as of December 31, 2013. The deposits are refundable at the termination of the business relationship with the carriers.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em><font style=" text-decoration: underline; font-size: 10pt;">Deferred Financing Costs</font></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During 2013, the Company paid financing costs of $<font>636,624</font> for legal expenses, related to the issuance of the 2013 <font>10</font>% Related Party Convertible Note and the <font>10</font>% 3<sup>rd</sup> Party Convertible Note in the quarter ended September 30, 2013 . These costs are amortized using the effective interest method over the term of each applicable convertible note. The net deferred financing cost balances was <font>$154,427</font> as of September 30, 2014, compared with $<font>477,673</font> as of December 31, 2013</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><u>Loans to Third Parties</u></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In 2013, the Company agreed to provide a loan to a third party at an interest rate of <font>5</font>% per annum, with an option to acquire an equity interest. The loan was provided to fund the development and exploitation of applications using electronic medical health records. The loan will be repaid at the completion of the proof of concept, which is a prototype that is designed to determine feasibility of the application development, which will not occur prior to 2015. The loan has been provided in a number of tranches, the last <font>one</font> was on April 7, 2014 for additional $<font>50,000</font>. The carrying value of the loan was $<font>267,063</font> and $<font>163,542</font> as of September 30, 2014 and December 31, 2013, respectively.</p> </div> </div>
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<us-gaap:DeferredFinanceCostsNet id="Tag42" contextRef="I2014_22" unitRef="USD" decimals="0"> 154427 </us-gaap:DeferredFinanceCostsNet>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag43" contextRef="I2013_ConvertibleNoteOneMember" unitRef="Pure" decimals="2"> 0.10 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag44" contextRef="C244" unitRef="Pure" decimals="2"> 0.10 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag45" contextRef="I2014_FurnitureAndFixturesMember" unitRef="USD" decimals="0"> 284007 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag46" contextRef="I2013_FurnitureAndFixturesMember" unitRef="USD" decimals="0"> 314686 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag47" contextRef="I2014_TechnologyEquipmentMember" unitRef="USD" decimals="0"> 23070583 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag48" contextRef="I2013_TechnologyEquipmentMember" unitRef="USD" decimals="0"> 24287111 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag49" contextRef="I2014_SoftwareAndSoftwareDevelopmentCostsMember" unitRef="USD" decimals="0"> 4680076 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag50" contextRef="I2013_SoftwareAndSoftwareDevelopmentCostsMember" unitRef="USD" decimals="0"> 8473042 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross id="Tag51" contextRef="I2014_AutomobilesMember" unitRef="USD" decimals="0"> 84389 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag52" contextRef="I2014_22" unitRef="USD" decimals="0"> 13248282 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag53" contextRef="I2013" unitRef="USD" decimals="0"> 15984028 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:PropertyPlantAndEquipmentNet id="Tag54" contextRef="I2014_22" unitRef="USD" decimals="0"> 19603707 </us-gaap:PropertyPlantAndEquipmentNet>
<us-gaap:PropertyPlantAndEquipmentNet id="Tag55" contextRef="I2013" unitRef="USD" decimals="0"> 19786122 </us-gaap:PropertyPlantAndEquipmentNet>
<us-gaap:PropertyPlantAndEquipmentAdditions id="Tag56" contextRef="D2014Q2YTD_ConstructionInProgressMember" unitRef="USD" decimals="0"> 3381868 </us-gaap:PropertyPlantAndEquipmentAdditions>
<us-gaap:PropertyPlantAndEquipmentAdditions id="Tag57" contextRef="D2014Q2YTD_TechnologyEquipmentMember" unitRef="USD" decimals="0"> 912849 </us-gaap:PropertyPlantAndEquipmentAdditions>
<us-gaap:PropertyPlantAndEquipmentTransfersAndChanges id="Tag58" contextRef="D2014Q2YTD_ConstructionInProgressMember" unitRef="USD" decimals="0"> 919792 </us-gaap:PropertyPlantAndEquipmentTransfersAndChanges>
<us-gaap:PropertyPlantAndEquipmentTransfersAndChanges id="Tag59" contextRef="D2014Q2YTD_TechnologyEquipmentMember" unitRef="USD" decimals="0"> 1968969 </us-gaap:PropertyPlantAndEquipmentTransfersAndChanges>
<us-gaap:PropertyPlantAndEquipmentTransfersAndChanges id="Tag60" contextRef="D2014Q2YTD_SoftwareAndSoftwareDevelopmentCostsMember" unitRef="USD" decimals="0"> 740907 </us-gaap:PropertyPlantAndEquipmentTransfersAndChanges>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Property and equipment at September 30, 2014 (unaudited) and December 31, 2013 consisted of:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left; vertical-align: bottom;"><strong>Average<br/> Estimated</strong></td> <td style=" font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left;"><strong>Useful<br/> Lives</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>September 30,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>December 31,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">(Unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 60%;">Furniture and fixtures</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center; width: 11%;"><font>5</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>284,007</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>314,686</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Computer, communication and network equipment</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font>3</font> – <font>10</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>23,070,583</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>24,287,111</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Software</td> <td style=" font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>5</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,680,076</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,473,042</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Automobiles</td> <td style=" font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>5</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>84,389</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>91,580</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Construction in progress for internal use software</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,732,934</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,603,731</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total property and equipment</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>32,851,989</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>35,770,150</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: accumulated depreciation and amortization</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(13,248,282</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(15,984,028</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total property and equipment, Net</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,603,707</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,786,122</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:PropertyPlantAndEquipmentTextBlock>
<us-gaap:FiniteLivedIntangibleAssetsGross id="Tag62" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 14970577 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:FiniteLivedIntangibleAssetsGross id="Tag63" contextRef="I2013_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 16246291 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:FiniteLivedIntangibleAssetsGross id="Tag64" contextRef="I2014_22" unitRef="USD" decimals="0"> 19215217 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:FiniteLivedIntangibleAssetsGross id="Tag65" contextRef="I2013" unitRef="USD" decimals="0"> 29251751 </us-gaap:FiniteLivedIntangibleAssetsGross>
<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="Tag66" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 3319806 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock id="Tag67" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>8</font>. Property and Equipment</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Property and equipment at September 30, 2014 (unaudited) and December 31, 2013 consisted of:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left; vertical-align: bottom;"><strong>Average<br/> Estimated</strong></td> <td style=" font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left;"><strong>Useful<br/> Lives</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>September 30,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>December 31,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">(Unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 60%;">Furniture and fixtures</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center; width: 11%;"><font>5</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>284,007</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>314,686</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Computer, communication and network equipment</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font>3</font> – <font>10</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>23,070,583</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>24,287,111</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Software</td> <td style=" font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>5</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,680,076</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,473,042</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Automobiles</td> <td style=" font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>5</font></td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>84,389</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>91,580</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Construction in progress for internal use software</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,732,934</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,603,731</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total property and equipment</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>32,851,989</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>35,770,150</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: accumulated depreciation and amortization</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(13,248,282</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(15,984,028</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total property and equipment, Net</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,603,707</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,786,122</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Computers, communications and network equipment includes the capitalization of the Company's systems engineering and software programming activities. Typically, these investments pertain to the Company's:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" width="100%" style=" font: 10pt times new roman, times, serif; border-collapse: collapse;"> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" width: 2%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" width: 2%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" width: 96%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Intelligent Network (IN) platform;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">CRM provisioning Software;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Mediation, Rating & Pricing engine;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">ValidSoft security software applications;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Operations and business support software;</font></td> </tr> <tr style=" vertical-align: top; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;">Network management tools.</font></td> </tr> </table> </div> <div> <div style=" width: 1056px;"> <div style=" page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; font-size: 10pt;"> <div class="CursorPointer"></div> </div> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Construction in progress (“CIP”) for internal use software consists of software projects in developments that have not been completed, and equipment acquired from third parties but not yet ready for service. Upon completion of development, the assets are reclassified from CIP to the appropriate Property and Equipment category, at which point the assets begin to depreciate or amortize. During the first <font>nine</font> months of <font>2014</font>, <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company</font> added to CIP $<font>3,381,868</font> of internal use software costs, $<font>912,849</font> in acquired equipment and <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">management</font> reclassified $<font>919,792</font> from Computer, Communication and Network during the first quarter in 2014, because this equipment was not yet ready for service. During the <font>nine</font> months period ended September 30, 2014, <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company</font> reclassified $<font>1,968,969</font> from CIP into computer equipment and $<font>740,907</font> as software. <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">There is also an exchange rate translation effects amounting to approximately $<font>375,430</font>, because costs are incurred mostly in the functional currency Euro and translated to the reporting currency, US dollar.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Depreciation amounted to <font>$1,189,496</font> and <font>$3,660,946</font> for the three and nine months period ended September 30, 2014</p> </div> </div>
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<us-gaap:FiniteLivedIntangibleAssetsGross id="Tag77" contextRef="I2013_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 13005460 </us-gaap:FiniteLivedIntangibleAssetsGross>
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<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="Tag79" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 9894528 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization id="Tag80" contextRef="I2013_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 9096474 </us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
<us-gaap:IntangibleAssetsNetExcludingGoodwill id="Tag81" contextRef="I2014_22" unitRef="USD" decimals="0"> 6000884 </us-gaap:IntangibleAssetsNetExcludingGoodwill>
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<us-gaap:AmortizationOfIntangibleAssets id="Tag84" contextRef="D2013Q2YTD" unitRef="USD" decimals="0"> 2288106 </us-gaap:AmortizationOfIntangibleAssets>
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<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo id="Tag86" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 384776 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree id="Tag87" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 240094 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour id="Tag88" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 84222 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive id="Tag89" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" decimals="0"> 64835 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear id="Tag90" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 513742 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo id="Tag91" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 1917783 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree id="Tag92" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 1872055 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour id="Tag93" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 544130 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive id="Tag94" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 101484 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive id="Tag95" contextRef="I2014_ValidSoftIpAndTechnologyMember" unitRef="USD" decimals="0"> 126855 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear id="Tag96" contextRef="I2014_22" unitRef="USD" decimals="0"> 664650 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo id="Tag97" contextRef="I2014_22" unitRef="USD" decimals="0"> 2302559 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree id="Tag98" contextRef="I2014_22" unitRef="USD" decimals="0"> 2112149 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour id="Tag99" contextRef="I2014_22" unitRef="USD" decimals="0"> 628349 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive id="Tag100" contextRef="I2014_22" unitRef="USD" decimals="0"> 166318 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive id="Tag101" contextRef="I2014_22" unitRef="USD" decimals="0"> 126855 </us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Estimated future amortization expense related to the Company´s intangible assets is:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Rest of <font>2014</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2015</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2016</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2017</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2018</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2019</font> and <br/> thereafter</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 34%;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Customer contracts, Licenses, Interconnect</font> and Technology</font></td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>150,908</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>384,776</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>240,094</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>84,222</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>64,835</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Validsoft IP</font></font> and <font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Technology</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>513,742</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,917,783</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,872,055</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>544,130</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>101,484</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>126,855</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>664,650</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,302,559</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,112,149</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>628,349</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>166,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>126,855</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock>
<us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock id="Tag103" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in;">Intangible assets as of September 30, 2014 (unaudited) and December 31, 2013 consisted of the following:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Estimated</strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; text-align: center;"> <p style=" margin: 0in 0in 0pt 0in; border: 1px rgb(0, 0, 0);"><strong>September 30,</strong></p> </td> <td> </td> <td> </td> <td colspan="2" align="center" style=" border-left: none; border-right: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; vertical-align: bottom; text-align: center;"> <p style=" margin: 0in 0in 0pt 0in; border: 1px rgb(0, 0, 0);"><strong>December 31,</strong></p> </td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Useful Lives</strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2014</font></strong></td> <td> </td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"><strong><font>2013</font></strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">(unaudited)</td> <td> </td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left; width: 62%;">Customer Contracts, Licenses , Interconnect & Technology</td> <td style=" border-left: none; border-right: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; text-align: center; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 9%;"><font>5</font>-<font>10</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;">$</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: right; width: 10%;"><font>4,244,641</font></td> <td style=" padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;">$</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: right; width: 10%;"><font>13,005,460</font></td> <td style=" padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">ValidSoft IP & Technology</td> <td style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>1</font>-<font>10</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>14,970,577</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>16,246,291</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total intangible assets</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,215,217</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>29,251,751</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: Accumulated amortization Customer Contracts, Licenses, Interconnect & Technology</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(3,319,806</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> <td style=" font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(11,484,600</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: Accumulated Amortization ValidSoft IP & Technology</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(9,894,528</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(9,096,474</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total intangible assets, Net</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>6,000,884</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,670,677</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock>
<us-gaap:IntangibleAssetsDisclosureTextBlock id="Tag104" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>9</font>. Intangible Assets</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Intangible assets include customer contracts, telecommunication licenses and integrated, multi-country, centrally managed switch-based interconnects as well as ValidSoft Intellectual Property, including, but not limited, to software source codes, applications, customer list and pipeline, registration and licenses, patents and trademark/brands.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in;">Intangible assets as of September 30, 2014 (unaudited) and December 31, 2013 consisted of the following:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Estimated</strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; text-align: center;"> <p style=" margin: 0in 0in 0pt 0in; border: 1px rgb(0, 0, 0);"><strong>September 30,</strong></p> </td> <td> </td> <td> </td> <td colspan="2" align="center" style=" border-left: none; border-right: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; vertical-align: bottom; text-align: center;"> <p style=" margin: 0in 0in 0pt 0in; border: 1px rgb(0, 0, 0);"><strong>December 31,</strong></p> </td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Useful Lives</strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2014</font></strong></td> <td> </td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"><strong><font>2013</font></strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">(unaudited)</td> <td> </td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: left; width: 62%;">Customer Contracts, Licenses , Interconnect & Technology</td> <td style=" border-left: none; border-right: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; text-align: center; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 9%;"><font>5</font>-<font>10</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" padding: 0px; padding-right: 5px; padding-left: 5px; font-size: 10pt; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;">$</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: right; width: 10%;"><font>4,244,641</font></td> <td style=" padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;">$</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: right; width: 10%;"><font>13,005,460</font></td> <td style=" padding: 0px; padding-right: 5px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: left; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">ValidSoft IP & Technology</td> <td style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font>1</font>-<font>10</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>14,970,577</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>16,246,291</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total intangible assets</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>19,215,217</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>29,251,751</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: Accumulated amortization Customer Contracts, Licenses, Interconnect & Technology</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(3,319,806</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> <td style=" font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(11,484,600</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Less: Accumulated Amortization ValidSoft IP & Technology</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(9,894,528</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(9,096,474</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total intangible assets, Net</td> <td style=" text-align: justify; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>6,000,884</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,670,677</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total amortization expense for the <font>nine</font> month periods ended September 30, 2014 and <font>2013</font> was $<font>2,175,911</font> and $<font>2,288,106</font>, respectively. As of September 30, 2014, December 31, 2013 and September 30, 2013, the Company did not record any impairment.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Estimated future amortization expense related to the Company´s intangible assets is:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Rest of <font>2014</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2015</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2016</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2017</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2018</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>2019</font> and <br/> thereafter</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 34%;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Customer contracts, Licenses, Interconnect</font> and Technology</font></td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>150,908</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>384,776</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>240,094</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>84,222</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>64,835</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 7%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Validsoft IP</font></font> and <font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><font class="msoIns">Technology</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>513,742</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,917,783</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,872,055</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>544,130</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>101,484</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>126,855</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>664,650</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,302,559</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,112,149</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>628,349</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>166,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>126,855</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> </div>
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<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive id="Tag105" contextRef="I2014_CustomerContractsLicensesInterconnectAndTechnologyMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:FiniteLivedIntangibleAssetUsefulLife id="Tag106" contextRef="D2014_6M_ValidSoftIpAndTechnologyMember_MinimumMember"> P1Y </us-gaap:FiniteLivedIntangibleAssetUsefulLife>
<us-gaap:FiniteLivedIntangibleAssetUsefulLife id="Tag107" contextRef="D2014_6M_CustomerContractsLicensesInterconnectAndTechnologyMember_MaximumMember"> P10Y </us-gaap:FiniteLivedIntangibleAssetUsefulLife>
<us-gaap:FiniteLivedIntangibleAssetUsefulLife id="Tag108" contextRef="D2014_6M_CustomerContractsLicensesInterconnectAndTechnologyMember_MinimumMember"> P5Y </us-gaap:FiniteLivedIntangibleAssetUsefulLife>
<us-gaap:FiniteLivedIntangibleAssetUsefulLife id="Tag109" contextRef="D2014_6M_ValidSoftIpAndTechnologyMember_MaximumMember"> P10Y </us-gaap:FiniteLivedIntangibleAssetUsefulLife>
<us-gaap:Goodwill id="Tag110" contextRef="I2014_MorodoLimitedMember" unitRef="USD" decimals="0"> 206056 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag111" contextRef="I2013_MorodoLimitedMember" unitRef="USD" decimals="0"> 223615 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag112" contextRef="I2014_TelnicityLlcMember" unitRef="USD" decimals="0"> 190401 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag113" contextRef="I2013_TelnicityLlcMember" unitRef="USD" decimals="0"> 190401 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag114" contextRef="I2014_22" unitRef="USD" decimals="0"> 3490242 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag115" contextRef="I2013" unitRef="USD" decimals="0"> 3773226 </us-gaap:Goodwill>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>10</font>. Goodwill</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The carrying value of the Company's goodwill as of September 30, 2014 (unaudited) and December 31, 2013 was as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>December 31</strong><strong>,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Goodwill</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>(unaudited)</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 73%;">Goodwill ValidSoft Ltd</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>3,093,785</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>3,359,210</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Goodwill Morodo Ltd.</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>206,056</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>223,615</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Goodwill Telnicity assets</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>190,401</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>190,401</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #ffffff;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 20px;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,490,242</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,773,226</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Goodwill represents the excess of cost over the fair value of assets. Goodwill is not amortized, but instead is evaluated for impairment using a discounted cash flow model and other measurements of fair value such as market comparable transactions. The authoritative guidance for the goodwill impairment model includes a <font>two</font>-step process. First, it requires a comparison of the book value of net assets to the fair value of the reporting unit that have goodwill assigned to them. If the fair value is determined to be less than the book value, a second step is performed to compute the amount of impairment. In the second step, a fair value for goodwill is estimated, based in part of the fair value of the reporting unit used in the first step, and is compared to its carrying value. The shortfall of the fair value below carrying value, if any, would represent the amount of goodwill impairment.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company assesses goodwill for impairment during the fourth quarter of each year, or sooner should there be an indicator of impairment. The Company periodically analyzes whether any such indicators of impairment exists. Such indicators include a sustained, significant decline in the Company's stock price and market capitalization, a decline in the Company's expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, and/or slower growth rate, among others. After considering qualitative factors including the Company's market capitalization and the Company's previously announced outlook for 2014, it concluded that, for the third quarter of 2014, a goodwill impairment test was required. In performing the first step of the <font>two</font>-step goodwill impairment test, the Company determined that the fair value of the Company as a single reporting unit, measured by the Company's market capitalization, exceeded the carrying value by a significant amount indicating <font>no</font> impairment was necessary.</p> </div> </div>
</us-gaap:GoodwillDisclosureTextBlock>
<us-gaap:ScheduleOfGoodwillTextBlock id="Tag117" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The carrying value of the Company's goodwill as of September 30, 2014 (unaudited) and December 31, 2013 was as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0);"><strong>December 31</strong><strong>,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Goodwill</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>(unaudited)</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 73%;">Goodwill ValidSoft Ltd</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>3,093,785</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>3,359,210</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Goodwill Morodo Ltd.</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>206,056</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>223,615</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Goodwill Telnicity assets</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>190,401</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>190,401</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #ffffff;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 20px;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,490,242</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,773,226</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfGoodwillTextBlock>
<us-gaap:Goodwill id="Tag118" contextRef="I2014_ValidsoftLtdMember" unitRef="USD" decimals="0"> 3093785 </us-gaap:Goodwill>
<us-gaap:Goodwill id="Tag119" contextRef="I2013_ValidsoftLtdMember" unitRef="USD" decimals="0"> 3359210 </us-gaap:Goodwill>
<etak:PersonalGuaranteeNumberOfShareholders id="Tag120" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember" unitRef="entities" decimals="INF"> 2 </etak:PersonalGuaranteeNumberOfShareholders>
<us-gaap:LoansPayableCurrent id="Tag121" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember" unitRef="USD" decimals="0"> 319991 </us-gaap:LoansPayableCurrent>
<us-gaap:LoansPayableCurrent id="Tag122" contextRef="I2013_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember" unitRef="USD" decimals="0"> 320358 </us-gaap:LoansPayableCurrent>
<us-gaap:DebtInstrumentPeriodicPayment id="Tag123" contextRef="D2014Q2YTD_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="USD" decimals="0"> 2798 </us-gaap:DebtInstrumentPeriodicPayment>
<us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag124" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="Pure" decimals="3"> 0.015 </us-gaap:DebtInstrumentInterestRateEffectivePercentage>
<us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag125" contextRef="I20081130_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="Pure" decimals="4"> 0.0825 </us-gaap:DebtInstrumentInterestRateEffectivePercentage>
<etak:PersonalGuaranteeNumberOfShareholders id="Tag126" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="entities" decimals="INF"> 3 </etak:PersonalGuaranteeNumberOfShareholders>
<us-gaap:LoansPayableCurrent id="Tag127" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="USD" decimals="0"> 254404 </us-gaap:LoansPayableCurrent>
<us-gaap:LoansPayableCurrent id="Tag128" contextRef="I2013_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="USD" decimals="0"> 254696 </us-gaap:LoansPayableCurrent>
<us-gaap:ScheduleOfShortTermDebtTextBlock id="Tag129" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The related loans payable as of September 30, 2014 (unaudited) and December 31, 2013 are summarized as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>September</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>December</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>30, 2014</font></strong></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>31, 2013</font></strong></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;">(unaudited)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Installment loan payable due December 24, 2006, secured by personal guarantees of <font>two</font> stockholders, a former director, and a third party</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>319,991</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>320,358</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Installment loan payable, monthly principal and interest payments of $<font>2,798</font> including interest at bank's prime rate plus <font>1.5</font>% per annum, <font>8.25</font>% at November 30, 2008, due December 24, 2011, secured by personal guarantees of <font>three</font> stockholders and a former director</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>254,404</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>254,696</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Installment loan payable, monthly principal and interest payments of $<font>1,729</font> including interest at bank's prime rate plus <font>1.5</font>% per annum, <font>8.25</font>% at November 24, 2008, due June 28, 2009, secured by personal guarantees of <font>three</font> stockholders and a former director</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,778</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,897</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Term loan payable, monthly payments of interest at bank's prime rate, <font>7.0</font>% at December 31, 2007</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>283,377</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>283,703</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>961,550</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>962,654</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfShortTermDebtTextBlock>
<us-gaap:LoansPayableCurrent id="Tag130" contextRef="I2013_TermLoanMember" unitRef="USD" decimals="0"> 283703 </us-gaap:LoansPayableCurrent>
<us-gaap:LoansPayableCurrent id="Tag131" contextRef="I2014_22" unitRef="USD" decimals="0"> 961550 </us-gaap:LoansPayableCurrent>
<us-gaap:LoansPayableCurrent id="Tag132" contextRef="I2013" unitRef="USD" decimals="0"> 962654 </us-gaap:LoansPayableCurrent>
<us-gaap:BankOverdrafts id="Tag133" contextRef="I2014_ElephantTalkLtdMember" unitRef="USD" decimals="0"> 425144 </us-gaap:BankOverdrafts>
<us-gaap:BankOverdrafts id="Tag134" contextRef="I2013_ElephantTalkLtdMember_1" unitRef="USD" decimals="0"> 391436 </us-gaap:BankOverdrafts>
<us-gaap:LossContingencyEstimateOfPossibleLoss id="Tag135" contextRef="I2014_22" unitRef="USD" decimals="0"> 1933308 </us-gaap:LossContingencyEstimateOfPossibleLoss>
<etak:OverdraftAndLoansDisclosureTextBlock id="Tag136" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>11</font>. Overdraft and Loan Payable</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In <font>2004</font>, Elephant Talk Ltd (“ETL”), a subsidiary of the Company, executed a credit facility with a bank in Hong Kong pursuant to which ETL borrowed funds. The interest rate and default payment interest rate were charged at <font>2</font>% and <font>6</font>% per annum respectively, above the lender's Hong Kong Dollar Prime Rate quoted by the lender from time to time. The Company has not guaranteed the credit facility nor is it otherwise obligated to pay funds drawn upon it on behalf of ETL.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The related loans payable as of September 30, 2014 (unaudited) and December 31, 2013 are summarized as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>September</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>December</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>30, 2014</font></strong></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;"><strong><font>31, 2013</font></strong></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: center;">(unaudited)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Installment loan payable due December 24, 2006, secured by personal guarantees of <font>two</font> stockholders, a former director, and a third party</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>319,991</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>320,358</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Installment loan payable, monthly principal and interest payments of $<font>2,798</font> including interest at bank's prime rate plus <font>1.5</font>% per annum, <font>8.25</font>% at November 30, 2008, due December 24, 2011, secured by personal guarantees of <font>three</font> stockholders and a former director</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>254,404</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>254,696</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Installment loan payable, monthly principal and interest payments of $<font>1,729</font> including interest at bank's prime rate plus <font>1.5</font>% per annum, <font>8.25</font>% at November 24, 2008, due June 28, 2009, secured by personal guarantees of <font>three</font> stockholders and a former director</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,778</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,897</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Term loan payable, monthly payments of interest at bank's prime rate, <font>7.0</font>% at December 31, 2007</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>283,377</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>283,703</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>961,550</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>962,654</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In December 2009 Chong Hing Bank Limited (“Bank”), formerly known as Liu Chong Hing Bank Limited, a foreign banking services company based in Hong Kong, commenced a lawsuit in the California Orange County Superior Court called Chong Hing Bank Limited v. Elephant Talk Communications, Inc., Case <font>No</font>. <font>30</font>-<font>2009</font>-<font>00328467</font>.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Bank alleged that it entered into various installment and term loan agreements and an overdraft account with ETL, a wholly-owned Hong Kong subsidiary of the Company. Various former officers and directors of ETL personally guaranteed the loans and overdraft account. As of September 30, 2014, the overdraft balance amounted to $<font>425,144</font>. The balance as of December 31, 2013 was $<font>391,436</font>.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Bank alleged that ETL was in default on the loans and overdraft account, and that approximately $<font>1,933,308</font> including interest and default interest was due. The Bank alleged that the Company was directly liable to repay the loans and overdraft account as a successor in interest to ETL or because the Company expressly or impliedly assumed direct liability for the loans and overdraft account. The Company denied the Bank's allegations and asserted several affirmative defenses. The Company contended that it had <font>no</font> direct liability to the Bank, and that the Bank must pursue its recourse against ETL and its personal guarantors.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Bank and the Company tried the case to the court without a jury between October, 5 and <font>12</font>, <font>2011</font>. The court found, among other things, that</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" width="100%" style=" ; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: top;"> <td style=" width: 0px;"> </td> <td style=" width: 0%;"><font style=" font: 10pt Symbol;">•</font></td> <td style=" text-align: justify;"><font style=" font-size: 10pt;">The Company was not liable as a successor in interest or otherwise on the Bank loans and overdraft account to ETL;</font></td> </tr> <tr style=" vertical-align: top;"> <td> </td> <td><font style=" font: 10pt Symbol;">•</font></td> <td><font style=" font-size: 10pt;">The Company was not liable on the Bank's claims because the Bank filed its action after the applicable California 4-year statute of limitations had expired; and</font></td> </tr> <tr style=" vertical-align: top;"> <td> </td> <td><font style=" font: 10pt Symbol;">•</font></td> <td style=" text-align: justify;"><font style=" font-size: 10pt;">The Company was not liable to the Bank under the alternative theories of negligent or intentional misrepresentation.</font></td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The court entered judgment in favor of the Company and against the Bank on December 14, 2011, and awarded the Company $<font>5,925</font> in costs. The judgment became final on February 16, 2012. The Company continues to accrue for these loans and related interest since its subsidiary ETL, may still be held liable for these loans.</p> </div> </div>
</etak:OverdraftAndLoansDisclosureTextBlock>
<us-gaap:DebtInstrumentPeriodicPayment id="Tag137" contextRef="D2014Q2YTD_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="USD" decimals="0"> 1729 </us-gaap:DebtInstrumentPeriodicPayment>
<us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag138" contextRef="I2014_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="Pure" decimals="3"> 0.015 </us-gaap:DebtInstrumentInterestRateEffectivePercentage>
<us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag139" contextRef="I20081124_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="Pure" decimals="4"> 0.0825 </us-gaap:DebtInstrumentInterestRateEffectivePercentage>
<etak:PersonalGuaranteeNumberOfShareholders id="Tag140" contextRef="I2014_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="entities" decimals="INF"> 3 </etak:PersonalGuaranteeNumberOfShareholders>
<us-gaap:LoansPayableCurrent id="Tag141" contextRef="I2014_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="USD" decimals="0"> 103778 </us-gaap:LoansPayableCurrent>
<us-gaap:LoansPayableCurrent id="Tag142" contextRef="I2013_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="USD" decimals="0"> 103897 </us-gaap:LoansPayableCurrent>
<us-gaap:DebtInstrumentInterestRateEffectivePercentage id="Tag143" contextRef="I20071231_TermLoanMember" unitRef="Pure" decimals="3"> 0.070 </us-gaap:DebtInstrumentInterestRateEffectivePercentage>
<us-gaap:LoansPayableCurrent id="Tag144" contextRef="I2014_TermLoanMember" unitRef="USD" decimals="0"> 283377 </us-gaap:LoansPayableCurrent>
<us-gaap:LossContingencyDamagesAwardedValue id="Tag145" contextRef="D2011_1M" unitRef="USD" decimals="0"> 5925 </us-gaap:LossContingencyDamagesAwardedValue>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="Tag146" contextRef="D2014Q2YTD_ElephantTalkLtdMember" unitRef="Pure" decimals="2"> 0.02 </us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<etak:DebtInstrumentBasisSpreadOnVariableRateEventOfDefault id="Tag147" contextRef="I2014_ElephantTalkLtdMember" unitRef="Pure" decimals="2"> 0.06 </etak:DebtInstrumentBasisSpreadOnVariableRateEventOfDefault>
<etak:PersonalGuaranteeNumberOfThirdParties id="Tag148" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember" unitRef="Pure" decimals="INF"> 1 </etak:PersonalGuaranteeNumberOfThirdParties>
<etak:PersonalGuaranteeNumberOfFormerDirectors id="Tag149" contextRef="I2014_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember" unitRef="entities" decimals="INF"> 1 </etak:PersonalGuaranteeNumberOfFormerDirectors>
<us-gaap:DebtInstrumentMaturityDate id="Tag150" contextRef="D2014Q2YTD_InstallmentBankLoanPayableDueJuneTwentyEightTwentyZeroNineMember"> 2009-06-28 </us-gaap:DebtInstrumentMaturityDate>
<etak:PersonalGuaranteeNumberOfFormerDirectors id="Tag151" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember" unitRef="entities" decimals="INF"> 1 </etak:PersonalGuaranteeNumberOfFormerDirectors>
<etak:PersonalGuaranteeNumberOfFormerDirectors id="Tag152" contextRef="I2014_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember" unitRef="entities" decimals="INF"> 1 </etak:PersonalGuaranteeNumberOfFormerDirectors>
<us-gaap:DebtInstrumentMaturityDate id="Tag153" contextRef="D2014_6M_InstallmentLoanPayableDueDecemberTwentyFourTwentyZeroSixMember"> 2006-12-24 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentMaturityDate id="Tag154" contextRef="D2014Q2YTD_InstallmentLoanPayableDueDecemberTwentyFourTwentyElevenMember"> 2011-12-24 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DeferredRevenueDisclosureTextBlock id="Tag155" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note 12. Deferred Revenue</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Because the Company recognizes revenue upon performance of services, deferred revenue represents amounts received from the customers against future sales of services, such as in pre-paid mobile services, pre-paid maintenance fees and mobile and security project work. Deferred revenue was $<font>127,456</font> (unaudited) and $<font>142,731</font> as of September 30, 2014 and December 31, 2013, respectively.</p> </div> </div>
</us-gaap:DeferredRevenueDisclosureTextBlock>
<us-gaap:DeferredRevenueCurrent id="Tag156" contextRef="I2014_22" unitRef="USD" decimals="0"> 127456 </us-gaap:DeferredRevenueCurrent>
<us-gaap:DeferredRevenueCurrent id="Tag157" contextRef="I2013" unitRef="USD" decimals="0"> 142731 </us-gaap:DeferredRevenueCurrent>
<etak:AccruedSellingGeneralAndAdministrativeExpensesCurrent id="Tag158" contextRef="I2014_22" unitRef="USD" decimals="0"> 2325318 </etak:AccruedSellingGeneralAndAdministrativeExpensesCurrent>
<etak:AccruedSellingGeneralAndAdministrativeExpensesCurrent id="Tag159" contextRef="I2013" unitRef="USD" decimals="0"> 2271086 </etak:AccruedSellingGeneralAndAdministrativeExpensesCurrent>
<etak:AccruedCostOfService id="Tag160" contextRef="I2014_22" unitRef="USD" decimals="0"> 611611 </etak:AccruedCostOfService>
<etak:AccruedCostOfService id="Tag161" contextRef="I2013" unitRef="USD" decimals="0"> 547111 </etak:AccruedCostOfService>
<us-gaap:TaxesPayableCurrent id="Tag162" contextRef="I2014_22" unitRef="USD" decimals="0"> 833978 </us-gaap:TaxesPayableCurrent>
<us-gaap:TaxesPayableCurrent id="Tag163" contextRef="I2013" unitRef="USD" decimals="0"> 255577 </us-gaap:TaxesPayableCurrent>
<us-gaap:InterestPayableCurrent id="Tag164" contextRef="I2014_22" unitRef="USD" decimals="0"> 1702571 </us-gaap:InterestPayableCurrent>
<us-gaap:InterestPayableCurrent id="Tag165" contextRef="I2013" unitRef="USD" decimals="0"> 1300101 </us-gaap:InterestPayableCurrent>
<us-gaap:OtherAccruedLiabilitiesCurrent id="Tag166" contextRef="I2014_22" unitRef="USD" decimals="0"> 331521 </us-gaap:OtherAccruedLiabilitiesCurrent>
<us-gaap:OtherAccruedLiabilitiesCurrent id="Tag167" contextRef="I2013" unitRef="USD" decimals="0"> 587428 </us-gaap:OtherAccruedLiabilitiesCurrent>
<us-gaap:AccruedLiabilitiesCurrent id="Tag168" contextRef="I2014_22" unitRef="USD" decimals="0"> 5804999 </us-gaap:AccruedLiabilitiesCurrent>
<us-gaap:AccruedLiabilitiesCurrent id="Tag169" contextRef="I2013" unitRef="USD" decimals="0"> 4961303 </us-gaap:AccruedLiabilitiesCurrent>
<us-gaap:AccruedIncomeTaxesCurrent id="Tag170" contextRef="I2014_22" unitRef="USD" decimals="0"> 7236 </us-gaap:AccruedIncomeTaxesCurrent>
<us-gaap:AccruedIncomeTaxesCurrent id="Tag171" contextRef="I2013" unitRef="USD" decimals="0"> 88420 </us-gaap:AccruedIncomeTaxesCurrent>
<etak:AccruedLiabilitiesCurrentDisclosureTextBlock id="Tag172" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note 13. Accrued expenses</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014 (unaudited) and December 31, 2013, the accrued expenses were comprised of the following:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0); text-align: center;"><strong>September 30,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>December<br/> 31, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center;">        (unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 69%;">Accrued SG&A expenses</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%;"><font>2,325,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%;"><font>2,271,086</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued cost of service</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>611,611</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>547,111</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued taxes (including VAT)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>833,978</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>255,577</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued interest payable</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,702,571</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,300,101</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other accrued expenses</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>331,521</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>587,428</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total accrued expenses</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,804,999</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,961,303</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <div class="CursorPointer"></div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Within accrued taxes are included income taxes payable as of September 30, 2014 (unaudited) and December 31, 2013 amounting to $<font>7,236</font> and $<font>88,420</font>, respectively.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Accrued SG&A expenses include social security premiums, personnel related costs such as payroll taxes, provision for holiday allowance, accruals for marketing and sales expenses, and office related expenses.</p> </div> </div>
</etak:AccruedLiabilitiesCurrentDisclosureTextBlock>
<us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock id="Tag173" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014 (unaudited) and December 31, 2013, the accrued expenses were comprised of the following:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in; border: 1px rgb(0, 0, 0); text-align: center;"><strong>September 30,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>December<br/> 31, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center;">        (unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 69%;">Accrued SG&A expenses</td> <td style=" padding: 0px; font-size: 10pt; width: 2%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%;"><font>2,325,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%;"><font>2,271,086</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued cost of service</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>611,611</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>547,111</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued taxes (including VAT)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>833,978</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>255,577</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Accrued interest payable</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,702,571</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,300,101</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other accrued expenses</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>331,521</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>587,428</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total accrued expenses</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,804,999</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,961,303</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
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<us-gaap:DebtInstrumentFaceAmount id="Tag174" contextRef="C219" unitRef="EUR" decimals="0"> 2000000 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentFaceAmount id="Tag175" contextRef="C219" unitRef="USD" decimals="0"> 2966951 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag176" contextRef="C219" unitRef="Pure" decimals="2"> 0.10 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentConvertibleConversionPrice1 id="Tag177" contextRef="C219" unitRef="USDPerShare" decimals="2"> 0.70 </us-gaap:DebtInstrumentConvertibleConversionPrice1>
<us-gaap:DebtInstrumentConvertibleNumberOfEquityInstruments id="Tag178" contextRef="C220" unitRef="Pure" decimals="INF"> 4238501 </us-gaap:DebtInstrumentConvertibleNumberOfEquityInstruments>
<us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities id="Tag179" contextRef="C220" unitRef="USD" decimals="0"> 3791541 </us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities>
<us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights id="Tag180" contextRef="C221" unitRef="Shares" decimals="INF"> 500000 </us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag181" contextRef="C221" unitRef="USDPerShare" decimals="4"> 0.9228 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><strong><u>Note <font>14</font>. Conversion into Equity of the 2013 <font>10</font>% Related Party Convertible Note</u></strong></p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 0.5in; background-color: white;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">On July 15, 2014, the Company entered into a certain note conversion letter agreement (the “Conversion Agreement”) and a certain warrant amendment letter agreement (the “Warrant Amendment”) with Mr. Moncarey (a related party and Director of QAT Investments S.A. and QAT II Investments S.A., affiliates of the Company) to, among other things,</p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" style=" font-family : Times New Roman; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; width: 1247px; border-collapse: collapse;"> <tr style=" vertical-align: top;"> <td style=" width: 0.25in;"> </td> <td style=" width: 0.25in;"><font style=" font-size: 10pt;">•</font></td> <td style=" width: 1172px; text-align: justify;"><font style=" font-size: 10pt;">immediately convert the convertible note issued on August 17, 2013, due July 2, 2014 (the “Maturity Date”), pursuant to which the Company borrowed a principal amount of €<font>2,000,000</font> ($<font>2,966,951</font> as of July 15, 2014) at an interest rate of <font>10</font>% per annum. ("the 2013 10% Related Party Convertible Note") into a number of shares of Common Stock. The <font>2013</font> 10% Related Party Convertible Note permits conversion, in whole or in part, at the option of Mr. Moncarey, into a number of shares of Common Stock, par value $<font>0.00001</font> of the Company (the “Common Stock”) equal to the quotient of the Outstanding Balance (as defined in the 2013 10% Related Party Convertible Note) divided by a Conversion Price of $<font>0.70</font>, modified from the original conversion price of $<font>0.887</font> per share or <font>4,238,501</font> shares of the Company's Common Stock, which amounted to $2,966,951 of principal and interest, plus $<font>824,590</font> as value assigned to the reduced Conversion Price, totaling $<font>3,791,541</font> of equity increase.</font></td> </tr> </table> </div> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.5in; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" style=" font-family : Times New Roman; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; width: 1247px; border-collapse: collapse;"> <tr style=" vertical-align: top;"> <td style=" width: 0.25in;"> </td> <td style=" width: 0.25in;"><font style=" font-size: 10pt;">•</font></td> <td style=" width: 1172px; text-align: justify;"><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">amend the warrant issued in conjunction with the issuance of the 2013 10% Related Party Convertible Note (“the 2013 Related Party Warrant”) to reduce the exercise price of the 2013 10% Related Party Warrant to $0.70 per share for the remainder of the term; and</font></td> </tr> </table> </div> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px 0pt 0.25in; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" style=" font-family : Times New Roman; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; width: 1247px; border-collapse: collapse;"> <tr style=" vertical-align: top;"> <td style=" width: 0.25in;"> </td> <td style=" width: 0.25in;"><font style=" font-size: 10pt;">•</font></td> <td style=" width: 1172px; text-align: justify;"><font style=" font-size: 10pt;">issue a warrant to Mr. Moncarey to purchase <font>500,000</font> shares of restricted Common Stock (the “July Warrant” and together with the Conversion Agreement and the Warrant Amendment, collectively, the “Transaction”).</font></td> </tr> </table> </div> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The July Warrant is exercisable any time after January 15, 2015 at an exercise price of $<font>0.9228</font> per share (the closing price of the Company's Common Stock immediately preceding the date the July Warrant was issued).  The term of the July Warrant expires on July 15, 2019.The Audit and Finance Committee of the Company's Board of Directors authorized the Transaction in order to immediately satisfy the Company's obligations under the <font>2013</font> 10% Related Party Convertible Note. The Transaction was subsequently ratified by the Company's Board of Directors.</p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 0.5in;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The securities underlying the Warrant Amendment, July Warrant and the shares of Common Stock issuable upon conversion of the 2013 10% Related Party Convertible Note pursuant to the Conversion Agreement have not been registered under the Securities Act of <font>1933</font>, as amended (the “Securities Act”), or any state securities laws, and were offered and sold only in Europe to an “accredited investor” (as defined in Rule <font>501</font>(a) of the Securities Act) pursuant to an exemption from registration under Section <font>4</font>(a)(<font>2</font>) of the Securities Act and Regulation D promulgated pursuant thereto.</p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">In connection with the reduction of the conversion price of note and warrants from $<font>0.887</font> to $<font>0.70</font> and the additional <font>500,000</font> warrants issued, the Company recorded an expense amounting to $<font>1,162,322</font> which is included in interest expense related to debt discount and conversion feature in the consolidated statement of comprehensive loss.</p> </div>
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<etak:DebtInstrumentAssignedValueToReducedConversionPrice id="Tag183" contextRef="C245" unitRef="USD" decimals="0"> 824590 </etak:DebtInstrumentAssignedValueToReducedConversionPrice>
<us-gaap:DebtInstrumentConvertibleConversionPrice1 id="Tag184" contextRef="C245" unitRef="USDPerShare" decimals="3"> 0.887 </us-gaap:DebtInstrumentConvertibleConversionPrice1>
<etak:ClassOfWarrantOrRightIssued id="Tag185" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 500000 </etak:ClassOfWarrantOrRightIssued>
<us-gaap:InterestExpenseOther id="Tag186" contextRef="D2014Q2YTD_ConvertibleNoteOneMember" unitRef="USD" decimals="0"> 1162322 </us-gaap:InterestExpenseOther>
<etak:DebtInstrumentConvertibleConversionPrice1BeforeChange id="Tag187" contextRef="C245" unitRef="USDPerShare" decimals="2"> 0.70 </etak:DebtInstrumentConvertibleConversionPrice1BeforeChange>
<us-gaap:DebtInstrumentCarryingAmount id="Tag188" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="EUR" decimals="0"> 4000000 </us-gaap:DebtInstrumentCarryingAmount>
<us-gaap:DebtInstrumentCarryingAmount id="Tag189" contextRef="I2013_ConvertibleNoteTwoMember" unitRef="EUR" decimals="0"> 4000000 </us-gaap:DebtInstrumentCarryingAmount>
<us-gaap:ForeignCurrencyExchangeRateTranslation1 id="Tag190" contextRef="I2014_22" unitRef="EUR_per_USD" decimals="4"> 0.7883 </us-gaap:ForeignCurrencyExchangeRateTranslation1>
<us-gaap:ForeignCurrencyExchangeRateTranslation1 id="Tag191" contextRef="I2013" unitRef="EUR_per_USD" decimals="4"> 0.7264 </us-gaap:ForeignCurrencyExchangeRateTranslation1>
<us-gaap:DebtInstrumentCarryingAmount id="Tag192" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 5074080 </us-gaap:DebtInstrumentCarryingAmount>
<us-gaap:DebtInstrumentCarryingAmount id="Tag193" contextRef="I2013_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 5506608 </us-gaap:DebtInstrumentCarryingAmount>
<us-gaap:DebtInstrumentUnamortizedDiscount id="Tag194" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 410853 </us-gaap:DebtInstrumentUnamortizedDiscount>
<us-gaap:DebtInstrumentUnamortizedDiscount id="Tag195" contextRef="I2013_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 726695 </us-gaap:DebtInstrumentUnamortizedDiscount>
<us-gaap:LongTermDebt id="Tag196" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 4663227 </us-gaap:LongTermDebt>
<us-gaap:LongTermDebt id="Tag197" contextRef="I2013_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 4779913 </us-gaap:LongTermDebt>
<us-gaap:DebtInstrumentFaceAmount id="Tag198" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="EUR" decimals="0"> 4000000 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentFaceAmount id="Tag199" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 5074080 </us-gaap:DebtInstrumentFaceAmount>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag200" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="Pure" decimals="INF"> 0.1 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentConvertibleConversionPrice1 id="Tag201" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USDPerShare" decimals="3"> 0.887 </us-gaap:DebtInstrumentConvertibleConversionPrice1>
<us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights id="Tag202" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="Shares" decimals="INF"> 2000000 </us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag203" contextRef="I2014_ConvertibleNoteTwoMember" unitRef="USDPerShare" decimals="3"> 0.887 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:DebtInstrumentUnamortizedDiscount id="Tag204" contextRef="I20130828_ConvertibleNoteTwoMember" unitRef="USD" decimals="0"> 864394 </us-gaap:DebtInstrumentUnamortizedDiscount>
<us-gaap:ConvertibleDebtTableTextBlock id="Tag205" contextRef="D2014Q2YTD_ConvertibleNoteTwoMember">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">following table shows the composition of the 2013 10% 3rd Party Convertible Note as shown in the Condensed Consolidated Balance Sheet</font></font><font style=" font-size: 10pt;">:</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;"> </font></strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong><font style=" font-size: 10pt;">September 30,<br/> </font></strong><font><strong><font style=" font-size: 10pt;">2014</font></strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong><font style=" font-size: 10pt;">December 31,<br/> </font></strong><font><strong><font style=" font-size: 10pt;">2013</font></strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt; text-align: center;"><font style=" font-size: 10pt;">(unaudited)</font></td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% 3rd Party Convertible Note (principal amount)</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"><font style=" font-size: 10pt;">€</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font><font style=" font-size: 10pt;">4,000,000</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"><font style=" font-size: 10pt;">€</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font><font style=" font-size: 10pt;">4,000,000</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Exchange rate September 30, 2014: EURO </font><font><font style=" font-size: 10pt;">0.7883</font></font><font style=" font-size: 10pt;">=US$</font><font><font style=" font-size: 10pt;">1</font></font><font style=" font-size: 10pt;">, and December 31, 2013: EURO </font><font><font style=" font-size: 10pt;">0.7264</font></font><font style=" font-size: 10pt;">=US$</font><font><font style=" font-size: 10pt;">1</font></font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% 3rd Party Convertible Note</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">5,074,080</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">5,506,608</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Less:</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Debt Discount (10% 3rd Party Warrant)</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">(410,853</font></font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">)</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">(726,695</font></font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">)</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% </font><font><font style=" font-size: 10pt;">3</font></font><font style=" font-size: 10pt;">rd Party Convertible Note (Net of Debt Discount of $</font><font><font style=" font-size: 10pt;">410,853</font></font><font style=" font-size: 10pt;"> as per September 30, 2014 and $</font><font><font style=" font-size: 10pt;">726,695</font></font><font style=" font-size: 10pt;"> as per December 31, </font><font><font style=" font-size: 10pt;">2013)</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">4,663,227</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">4,779,913</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ConvertibleDebtTableTextBlock>
<etak:ValueCoveredByRegistrationStatement id="Tag206" contextRef="I2013" unitRef="USD" decimals="0"> 75000000 </etak:ValueCoveredByRegistrationStatement>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag207" contextRef="I2014_InvestorsMember" unitRef="Shares" decimals="INF"> 2892857 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:WarrantsAndRightsOutstanding id="Tag208" contextRef="I2014_InvestorsMember" unitRef="USD" decimals="0"> 2248169 </us-gaap:WarrantsAndRightsOutstanding>
<us-gaap:WarrantsAndRightsOutstanding id="Tag209" contextRef="I2013_InvestorsMember" unitRef="USD" decimals="0"> 1973534 </us-gaap:WarrantsAndRightsOutstanding>
<us-gaap:ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued id="Tag210" contextRef="D2013_PlacementAgentMember" unitRef="Shares" decimals="INF"> 183284 </us-gaap:ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag211" contextRef="I2014_InvestorsMember" unitRef="USDPerShare" decimals="3"> 0.887 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag212" contextRef="I2014_PlacementAgentMember" unitRef="USDPerShare" decimals="3"> 0.853 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<etak:ClassOfWarrantOrRightTradingPriceThresholdPercentage id="Tag213" contextRef="D2014Q2YTD_InvestorsMember" unitRef="Pure" decimals="2"> 0.20 </etak:ClassOfWarrantOrRightTradingPriceThresholdPercentage>
<us-gaap:DebtDisclosureTextBlock id="Tag214" contextRef="D2014Q2YTD_ConvertibleNoteTwoMember">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline;"><font style=" font-size: 10pt;">Note </font><font><font style=" font-size: 10pt;">15</font></font><font style=" font-size: 10pt;">. </font><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% </font><font><font style=" font-size: 10pt;">3</font></font><font style=" font-size: 10pt;">rd Party Convertible Note</font></font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"><font style=" font-size: 10pt;">On August 28, 2013, the Company issued a convertible note for the amount of €</font><font><font style=" font-size: 10pt;">4,000,000</font></font><font style=" font-size: 10pt;"> ($</font><font><font style=" font-size: 10pt;">5,074,080</font></font><font style=" font-size: 10pt;">) at September 30, </font><font><font style=" font-size: 10pt;">2014</font></font><font style=" font-size: 10pt;">) to an accredited investor at an interest rate of </font><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">per annum with maturity date of August 28, 2015 (the “2013 10% 3rd Party Convertible Note”). At any time after August 28, 2013, the 2013 10% 3rd Party Convertible Note is convertible, in whole or in part, at the option of the investor, into a number of shares of common stock equal to the quotient of the outstanding balance under the 2013 10% 3rd Party Convertible Note divided by</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">0.887</font></font><font style=" font-size: 10pt;">. </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">The 2013 10% 3rd Party Convertible Note also contains default provisions, including provisions for potential acceleration of the 2013 10% 3rd Party Convertible Note. Interest is computed on the basis of the actual number of days elapsed in a 365-day year, and shall accrue from the date negotiated, and shall continue to accrue on the outstanding principal balance until paid in full or converted</font></font><font style=" font-size: 10pt;">.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">In </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">conjunction with the issuance of the 2013 10% 3rd Party Convertible Note, on August 28, 2013, the Company issued a warrant to the investor to purchase</font></font><font style=" font-size: 10pt;"> </font><font><font style=" font-size: 10pt;">2,000,000</font></font><font style=" font-size: 10pt;"> </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">shares of restricted common stock (the “10% 3rd Party Warrant”). The 10% 3rd Party Warrant is exercisable at any time on or after February 28, 2014 at a price of</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">0.887</font></font><font style=" font-size: 10pt;"> per share. The 10% 3rd Party Warrant has a </font><font><font style=" font-size: 10pt;">five</font></font><font style=" font-size: 10pt;"> year term after the issuance date of August 28, 2013.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">securities underlying the 2013 10% 3rd Party Warrant and the shares of common stock issuable upon conversion of the 2013 10% 3rd Party Convertible Note have not been registered under the Securities Act, as amended, or any state securities laws</font></font><font style=" font-size: 10pt;">.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The</font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font class="Apple-converted-space"><font style=" font-size: 10pt;"> </font></font><font style=" font-size: 10pt;">Company concluded that the 2013 10% 3rd Party Warrant does not require liability classification and is considered an equity instrument. The 2013 10% 3rd Party Warrant is recognized at a relative fair value on the issue date of the 2013 10% 3rd Party Convertible Note as a debt discount which was amortized using the effective interest method from issuance to the maturity date of the 2013 10% 3rd Party Convertible Note. The 2013 10% 3rd Party Warrant was valued using the binomial model at</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">864,394</font></font><font style=" font-size: 10pt;"> </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">on the date of issuance of the 2013 10% 3rd Party Convertible Note. The debt discount balance as of September 30, 2014 and December 31, 2013 was</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">410,853</font></font><font style=" font-size: 10pt;"> and $</font><font><font style=" font-size: 10pt;">726,695</font></font><font style=" font-size: 10pt;"> respectively. The embedded conversion feature is not required to be separated.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">following table shows the composition of the 2013 10% 3rd Party Convertible Note as shown in the Condensed Consolidated Balance Sheet</font></font><font style=" font-size: 10pt;">:</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;"> </font></strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong><font style=" font-size: 10pt;">September 30,<br/> </font></strong><font><strong><font style=" font-size: 10pt;">2014</font></strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong><font style=" font-size: 10pt;">December 31,<br/> </font></strong><font><strong><font style=" font-size: 10pt;">2013</font></strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt; text-align: center;"><font style=" font-size: 10pt;">(unaudited)</font></td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% 3rd Party Convertible Note (principal amount)</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"><font style=" font-size: 10pt;">€</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font><font style=" font-size: 10pt;">4,000,000</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"><font style=" font-size: 10pt;">€</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font><font style=" font-size: 10pt;">4,000,000</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Exchange rate September 30, 2014: EURO </font><font><font style=" font-size: 10pt;">0.7883</font></font><font style=" font-size: 10pt;">=US$</font><font><font style=" font-size: 10pt;">1</font></font><font style=" font-size: 10pt;">, and December 31, 2013: EURO </font><font><font style=" font-size: 10pt;">0.7264</font></font><font style=" font-size: 10pt;">=US$</font><font><font style=" font-size: 10pt;">1</font></font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% 3rd Party Convertible Note</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">5,074,080</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">5,506,608</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Less:</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Debt Discount (10% 3rd Party Warrant)</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">(410,853</font></font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">)</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">(726,695</font></font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">)</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% </font><font><font style=" font-size: 10pt;">3</font></font><font style=" font-size: 10pt;">rd Party Convertible Note (Net of Debt Discount of $</font><font><font style=" font-size: 10pt;">410,853</font></font><font style=" font-size: 10pt;"> as per September 30, 2014 and $</font><font><font style=" font-size: 10pt;">726,695</font></font><font style=" font-size: 10pt;"> as per December 31, </font><font><font style=" font-size: 10pt;">2013)</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">4,663,227</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"><font style=" font-size: 10pt;">$</font></td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font><font style=" font-size: 10pt;">4,779,913</font></font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"><font style=" font-size: 10pt;"><br/> </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">Subsequent to September 30, 2014 the liability of the 2013 10% 3</font></font><sup style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><font style=" font-size: 10pt;">rd</font></sup><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font class="Apple-converted-space"><font style=" font-size: 10pt;"> </font></font><font style=" font-size: 10pt;">Party Convertible Note will be eliminated from the balance sheet following the partial repayment of the loan and conversion of the remainder into shares of the Company's common stock. As a result, the 2013 10% 3rd Party Convertible Note remains classified under long term liabilities at September 30, 2014. Further details in Note 27 (Subsequent events).</font></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> </div>
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<us-gaap:DebtInstrumentMaturityDate id="Tag215" contextRef="D2014Q2YTD_ConvertibleNoteTwoMember"> 2015-08-28 </us-gaap:DebtInstrumentMaturityDate>
<us-gaap:DebtInstrumentConvertibleEarliestDate1 id="Tag216" contextRef="D2014Q2YTD_ConvertibleNoteTwoMember"> 2013-08-28 </us-gaap:DebtInstrumentConvertibleEarliestDate1>
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<us-gaap:ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable id="Tag218" contextRef="D2014Q2YTD_ConvertibleNoteTwoMember"> 2014-02-28 </us-gaap:ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable>
<us-gaap:ProceedsFromIssuanceOrSaleOfEquity id="Tag219" contextRef="D2013_20" unitRef="USD" decimals="0"> 12000000 </us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
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<us-gaap:PaymentsOfStockIssuanceCosts id="Tag221" contextRef="D2013_20" unitRef="USD" decimals="0"> 707500 </us-gaap:PaymentsOfStockIssuanceCosts>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues id="Tag222" contextRef="D2013_InvestorsMember" unitRef="Shares" decimals="INF"> 17425621 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<etak:ClassOfWarrantOrRightIssued id="Tag223" contextRef="D2013_InvestorsMember" unitRef="Shares" decimals="INF"> 7841537 </etak:ClassOfWarrantOrRightIssued>
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<etak:ClassOfWarrantOrRightExercised id="Tag225" contextRef="D2013_InvestorsMember" unitRef="Shares" decimals="INF"> 5131965 </etak:ClassOfWarrantOrRightExercised>
<etak:NumberOfCommonStockSharesIssuedUponExerciseOfWarrants id="Tag226" contextRef="D2013_InvestorsMember" unitRef="Shares" decimals="INF"> 4102792 </etak:NumberOfCommonStockSharesIssuedUponExerciseOfWarrants>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>16</font>. Registered Direct Offering and Warrant liabilities</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On June 11, 2013, the Company entered into an Amendment <font>No</font>. <font>1</font> (the “Amendment to SPA”) to a certain Securities Purchase Agreement (the “SPA”) dated June 3, 2013 with certain institutional and other investors (“DJ Investors”) placed by Dawson James Securities Inc. (the “Placement Agent”) and Mr. Steven van der Velden, the Chief Executive Officer and Chairman of the Board (“Affiliated Investors”), relating to a registered direct public offering by the Company (the “Offering”). The gross proceeds of this SPA were $<font>12,000,000</font> and resulted in net proceeds of $<font>11,292,500</font> after the deduction of $<font>707,500</font> for financing related expenses to various parties involved. The majority of the net proceeds were used to pay off the outstanding <font>8</font>% Senior Secured Convertible Notes issued by the Company in <font>2012</font> (the “8% Senior Secured Convertible Notes”).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The number of shares issued relating to the SPA amounted to <font>17,425,621</font>, the number of warrants amounted to <font>7,841,537</font> and was covered by the registration statement filed in <font>2012</font> for an amount of $<font>75,000,000</font> (S-<font>3</font>/A Amendment <font>No</font>. <font>2</font>, File <font>No</font>. <font>333</font>-<font>181738</font> dated June 6, 2012). The Company determined the fair value of the remaining outstanding warrants, totaling <font>2,892,857</font> using a Monte-Carlo Simulation model, which as of September 30, 2014 and December 31, 2013 amounted to $<font>2,248,169</font> and $<font>1,973,534</font>, respectively. The warrants are re-evaluated at each reporting period with changes in the fair value recognized through the applicable period Consolidated Statement of Comprehensive Loss.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The SPA included the issuance of <font>7,841,537</font> investor warrants (“investor warrants”) and <font>183,284</font> warrants issued to the fund raising agent (“agent warrants” and together with the investor warrants, the “RD Warrants”). The RD Warrants have a <font>five</font> year term from the date of issuance, are exercisable at the price of $<font>0.887</font> per share for the investor warrants and $<font>0.853</font> per share for the agent warrants immediately from the date of issuance and include provisions governing the adjustments to the number of RD Warrant Shares<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>(defined below)</font> issuable upon exercise of the RD Warrants upon stock dividends, stock splits, and other events. The RD Warrants may be transferred by a holder thereof in accordance with applicable securities laws.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In the event that, among other things, the registration statement relating to the shares of common stock is not effective, a holder of RD Warrants will also have the right, in its sole discretion, to exercise its RD Warrants for a net number of RD Warrant shares pursuant to the cashless exercise procedures specified in the RD Warrants (the “RD Warrant Shares”). The RD Warrants may be exercised in whole or in part, and any portion of a RD Warrant not exercised prior to the termination date shall be and become void and of <font>no</font> value. The absence of an effective registration statement or applicable exemption from registration does not alleviate the Company's obligation to deliver common stock issuable upon exercise of a RD Warrant.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Each RD Warrant also allows the holder the ability, at any time after <font>90</font> days from the issuance of the RD Warrant through its expiration, to exchange the RD Warrant with the Company for shares of common stock equal to the value of the RD Warrant at the time of the exchange based on a negotiated Black-Scholes formula. Under certain circumstances, the holder may receive cash in lieu of such shares of common stock.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Under certain circumstances after <font>90</font> days from the issuance of the RD Warrant, in the event that the common stock trades at a price that is <font>20</font>% or more above the exercise price of the RD Warrants for a period of <font>twenty</font> consecutive trading days (with an average daily volume equal to or greater than $<font>350,000</font>), the Company may require the holder of the RD Warrants to exercise the RD Warrants for cash. After the <font>90</font> days waiting period some of the RD Warrant holders indeed did decide to use their right to exchange their RD Warrants, and subsequently, the Company issued shares of common stock rather than paying cash. The number of RD Warrants exchanged amounted to <font>5,131,965</font> which resulted in the issuance of <font>4,102,792</font> shares of common stock. The exchange of the RD Warrants did not result in any cash inflow or cash outflow.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">If, at any time a RD Warrant is outstanding, the Company consummates any fundamental transaction, as described in the RD Warrants and generally including any consolidation or merger into another corporation, or the sale of all or substantially all of its assets, or other transaction in which the common stock is converted into or exchanged for other securities or other consideration, the holder of any RD Warrants will thereafter receive the securities or other consideration to which a holder of the number of shares of common stock then deliverable upon the exercise or exchange of such RD Warrants would have been entitled upon such consolidation or merger or other transaction.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The exercisability or exchangeability of the RD Warrants may be limited in certain circumstances if, after giving effect to such exercise or exchange, the holder or any of its affiliates would beneficially own (as determined pursuant to Section <font>13</font>(d) of the Securities Act, as amended, and the rules and regulations promulgated thereunder) more than <font>9.9</font>% of the Common Stock issued and outstanding.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">According to ASC <font>480</font>-<font>10</font>, Distinguishing Liabilities from Equity, the accounting for an equity instrument with detachable warrants classified as a liability reflects the notion that the consideration received upon issuance must be allocated between the instruments issued. Proceeds from the issuance of an equity instrument with stock purchase warrants are allocated to the <font>two</font> elements based on the following: (i) the liability element has initially been recorded at fair market value; and (ii) the remaining portion of the consideration has been allocated to the equity element. </p> </div> </div>
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<us-gaap:CapitalLeasedAssetsGross id="Tag240" contextRef="I2013" unitRef="USD" decimals="0"> 2620182 </us-gaap:CapitalLeasedAssetsGross>
<us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation id="Tag241" contextRef="I2014_22" unitRef="USD" decimals="0"> 425303 </us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation>
<us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation id="Tag242" contextRef="I2013" unitRef="USD" decimals="0"> 101209 </us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation>
<us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet id="Tag243" contextRef="I2014_22" unitRef="USD" decimals="0"> 2753196 </us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet>
<us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet id="Tag244" contextRef="I2013" unitRef="USD" decimals="0"> 2518973 </us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet>
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<us-gaap:CapitalLeaseObligationsCurrent id="Tag246" contextRef="I2013" unitRef="USD" decimals="0"> 1302838 </us-gaap:CapitalLeaseObligationsCurrent>
<us-gaap:CapitalLeaseObligationsNoncurrent id="Tag247" contextRef="I2014_22" unitRef="USD" decimals="0"> 261912 </us-gaap:CapitalLeaseObligationsNoncurrent>
<us-gaap:CapitalLeaseObligationsNoncurrent id="Tag248" contextRef="I2013" unitRef="USD" decimals="0"> 845529 </us-gaap:CapitalLeaseObligationsNoncurrent>
<us-gaap:PropertyPlantAndEquipmentAdditions id="Tag249" contextRef="D2014Q2YTD_SoftwareLicensesMember" unitRef="USD" decimals="0"> 721077 </us-gaap:PropertyPlantAndEquipmentAdditions>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center; vertical-align: bottom;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center; vertical-align: bottom;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>December</strong><strong> </strong><strong>31</strong><strong>,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt; text-align: center;"><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">    (unaudited)</font></td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Network equipment</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,580,123</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,642,759</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Software licenses</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,439,807</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>874,174</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>158,569</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,249</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,178,499</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,620,182</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Less: accumulated depreciation and amortization</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(425,303</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(101,209</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,753,196</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,518,973</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note 18. Obligations under Capital Leases</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has a number of financing arrangements with its vendors to acquire equipment and licenses. These trade arrangements contain maturity periods ranging from <font>two</font> to <font>three</font> years, and interest rates between Euribor (3M) +<font>1.5</font>% and <font>8.65</font>%. <font><font style=" font-size: 10pt; font-family : Times New Roman;">The following is an analysis of the property and equipment acquired under capital leases, recorded in the Property and Equipment line item by major classes:</font></font></p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center; vertical-align: bottom;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> </strong><font><strong>2014</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: center; vertical-align: bottom;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>December</strong><strong> </strong><strong>31</strong><strong>,<br/> </strong><font><strong>2013</strong></font></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt; text-align: center;"><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">    (unaudited)</font></td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Network equipment</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,580,123</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,642,759</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Software licenses</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,439,807</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>874,174</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>158,569</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>103,249</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,178,499</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,620,182</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Less: accumulated depreciation and amortization</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(425,303</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(101,209</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,753,196</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,518,973</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The current portion of the Obligation under Capital Leases of $<font>1,828,083</font> and $<font>1,302,838</font> as of September 30, 2014 and December 31, 2013, respectively, is included in Current Liabilities “Obligations under capital leases” in the accompanying balance sheets and the long term portion of $<font>261,912</font> and $<font>845,529</font>, is reported as “Non-current portion of obligations under capital lease” as of September 30, 2014 and December 31, 2013, respectively. Accrued interest is included in ‘Accrued expenses' in the balance sheet. Depreciation of assets recorded under the capital leases is included in depreciation expense.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During the first nine months of 2014, the Company <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">entered into<font class="Apple-converted-space"> </font></font>a lease agreement for software licenses <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">and pre-paid maintenance<font class="Apple-converted-space"> </font></font>amounting <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">in total</font> to $<font>721,077</font>.</p> </div> </div>
</us-gaap:CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock>
<us-gaap:DebtInstrumentTerm id="Tag253" contextRef="D2014Q2YTD_CapitalLeaseObligationsMember_MinimumMember"> P2Y </us-gaap:DebtInstrumentTerm>
<us-gaap:DebtInstrumentTerm id="Tag254" contextRef="D2014_6M_CapitalLeaseObligationsMember_MaximumMember"> P3Y </us-gaap:DebtInstrumentTerm>
<us-gaap:DueToRelatedPartiesNoncurrent id="Tag255" contextRef="I20081217_ElephantTalkUnitedTelecommunicationServicesNvMember" unitRef="ANG" decimals="0"> 724264 </us-gaap:DueToRelatedPartiesNoncurrent>
<us-gaap:DueToRelatedPartiesNoncurrent id="Tag256" contextRef="I20081217_ElephantTalkUnitedTelecommunicationServicesNvMember" unitRef="USD" decimals="0"> 402424 </us-gaap:DueToRelatedPartiesNoncurrent>
<us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag257" contextRef="I2014_ElephantTalkUnitedTelecommunicationServicesNvMember" unitRef="Pure" decimals="INF"> 0.08 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners id="Tag258" contextRef="I2014_ElephantTalkUnitedTelecommunicationServicesNvMember" unitRef="Pure" decimals="INF"> 0.49 </us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners>
<us-gaap:OtherLiabilitiesDisclosureTextBlock id="Tag259" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>19</font>. Loan from joint venture partner</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, through its subsidiary ET-UTS N.V,</font> entered into a <font>51</font>% owned joint venture agreement (the “<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Joint Venture Agreement</font>”) on December 17, 2008 and received an unsecured loan with a principal amount of ANG (Netherlands Antillian Guilder) <font>724,264</font> ($<font>402,424</font>) at an interest rate of <font>8</font>% per annum, from the <font>49</font>% shareholder in the joint venture, United Telecommunication Services N.V.<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>(“UTS NV”)</font> that is the government owned incumbent telecom operator of Curaçao. The loan had <font>no</font> maturity date, and the agreed conditions were that repayment of the loan and accrued interest would only take place when the joint venture was in a cash flow positive situation.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Management decided to discontinue and liquidate the joint venture with UTS NV and the loan and accrued interest have been forgiven. Therefore the Company recognized a gain in extinguishment of debt in the amount of<font class="Apple-converted-space"> </font></font>$<font>626,534</font>. <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The balance outstanding as of September 30, 2014 is $<font>0</font>.</font></p> </div> </div>
</us-gaap:OtherLiabilitiesDisclosureTextBlock>
<us-gaap:GainsLossesOnExtinguishmentOfDebt id="Tag260" contextRef="C247" unitRef="USD" decimals="0"> 626534 </us-gaap:GainsLossesOnExtinguishmentOfDebt>
<us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock id="Tag261" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following tables summarize fair value measurements by level as of September 30, 2014 and December 31, 2013 for financial assets and liabilities that are measured at fair value on a recurring basis:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong>September 30, 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" border-bottom: #000000 1pt solid; text-align: center; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">   (unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>1</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>2</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>3</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Derivative Liabilities</strong></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Warrant Liabilities</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total Derivatives Liabilities</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong>December 31, 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>1</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>2</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>3</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Derivative Liabilities</strong></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Warrant Liabilities</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total Derivatives Liabilities</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
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<us-gaap:DerivativeLiabilities id="Tag262" contextRef="I2014_WarrantMember_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 2248169 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag263" contextRef="I2014_FairValueInputsLevel3Member_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 2248169 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag264" contextRef="I2014_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 2248169 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag265" contextRef="I2013_WarrantMember_FairValueInputsLevel3Member_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 1973534 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag266" contextRef="I2013_WarrantMember_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 1973534 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag267" contextRef="I2013_FairValueInputsLevel3Member_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 1973534 </us-gaap:DerivativeLiabilities>
<us-gaap:DerivativeLiabilities id="Tag268" contextRef="I2013_FairValueMeasurementsRecurringMember" unitRef="USD" decimals="0"> 1973534 </us-gaap:DerivativeLiabilities>
<us-gaap:FairValueDisclosuresTextBlock id="Tag269" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>17</font>. Fair Value Measurements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following tables summarize fair value measurements by level as of September 30, 2014 and December 31, 2013 for financial assets and liabilities that are measured at fair value on a recurring basis:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong>September 30, 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" border-bottom: #000000 1pt solid; text-align: center; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">   (unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>1</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>2</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>3</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Derivative Liabilities</strong></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Warrant Liabilities</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total Derivatives Liabilities</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>2,248,169</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="14" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 6pt 0.25in; border: 1px rgb(0, 0, 0); margin-bottom: 0pt;"><strong>December 31, 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>1</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>2</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Level <font>3</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Derivative Liabilities</strong></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Warrant Liabilities</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Total Derivatives Liabilities</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,973,534</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has classified the outstanding warrant liabilities into level <font>3</font> due to the fact that some inputs are not published and not easily comparable to industry peers. The differences in level <font>3</font> items from December 31, 2013 to September 30, 2014 were only as a result in changes in the fair values. The Company uses the Monte Carlo valuation model to determine the value of the remaining outstanding warrants from the Registered Direct Offering of June 2013, discussed in Note <font>16</font> under the title “Registered Direct Offering and Warrant Liabilities”. Since this model requires special software and expertise to model the assumptions to be used, the Company hired a third party valuation expert. The warrants are re-evaluated at each reporting period with changes in the fair value recognized through the applicable period Consolidated Statement of Comprehensive Loss.</p> </div> </div>
</us-gaap:FairValueDisclosuresTextBlock>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The diluted share base for <font>2014</font> and <font>2013</font> excludes incremental shares related to convertible debt, warrants to purchase common stock and employee stock options as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> <p style=" /* margin: 0in 0in 6pt 0.25in; */ border: 1px rgb(0, 0, 0); margin-bottom: 0pt; margin-top: 0pt;"><strong>Nine months ended</strong><strong> </strong><strong>September 30</strong><strong>,</strong></p> </td> <td style=" font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><strong>Dilutive Securities</strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><strong><font>2014</font></strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><strong><font>2013</font></strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 64%;">2013 <font>10</font>% 3rd and 10% <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(204, 238, 255);">Related Party Convertible Notes</font></td> <td style=" font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>6,349,437</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> Warrants</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>29,630,860</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>42,203,174</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> Employee Stock Options</td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,845,597</font></td> <td style=" padding-bottom: 1pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>20,070,397</font></td> <td style=" padding-bottom: 1pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" padding-bottom: 2.5pt; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>76,925,894</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding-bottom: 2.5pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>62,273,571</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline;">Note 22. Basic and Diluted Net Loss Per Share</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Net loss per share is calculated in accordance with ASC <font>260</font>, Earnings per Share (“ASC <font>260</font>”). Basic net loss per share is based upon the weighted average number of common shares outstanding. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Weighted average number of shares used to compute basic and diluted loss per share is the same since the effect of dilutive securities is anti-dilutive.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The diluted share base for <font>2014</font> and <font>2013</font> excludes incremental shares related to convertible debt, warrants to purchase common stock and employee stock options as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> <p style=" /* margin: 0in 0in 6pt 0.25in; */ border: 1px rgb(0, 0, 0); margin-bottom: 0pt; margin-top: 0pt;"><strong>Nine months ended</strong><strong> </strong><strong>September 30</strong><strong>,</strong></p> </td> <td style=" font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><strong>Dilutive Securities</strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><strong><font>2014</font></strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><strong><font>2013</font></strong></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 64%;">2013 <font>10</font>% 3rd and 10% <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(204, 238, 255);">Related Party Convertible Notes</font></td> <td style=" font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>6,349,437</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> Warrants</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>29,630,860</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>42,203,174</font></td> <td style=" text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> Employee Stock Options</td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,845,597</font></td> <td style=" padding-bottom: 1pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>20,070,397</font></td> <td style=" padding-bottom: 1pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" padding-bottom: 2.5pt; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>76,925,894</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding-bottom: 2.5pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>62,273,571</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">These shares were excluded due to their anti-dilutive effect on the loss per share recorded in each of the years presented. <font>No</font> additional securities were outstanding that could potentially dilute basic earnings per share.</p> </div> </div>
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<us-gaap:BankOverdrafts id="Tag311" contextRef="I2013" unitRef="USD" decimals="0"> 391436 </us-gaap:BankOverdrafts>
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<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchanged id="Tag319" contextRef="D2013_LongTermIncentivePlanTwentyZeroEightMember" unitRef="Shares" decimals="INF"> 26571 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchanged>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchangeInPeriodWeightedAverageExercisePrice id="Tag320" contextRef="D2013_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 0.60 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchangeInPeriodWeightedAverageExercisePrice>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="Tag323" contextRef="I2013_LongTermIncentivePlanTwentyZeroEightMember_1" unitRef="USDPerShare" decimals="2"> 1.47 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod id="Tag326" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="Shares" decimals="INF"> 8178033 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice id="Tag327" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 1.22 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<etak:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodFairValue id="Tag328" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USD" decimals="0"> 5159039 </etak:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodFairValue>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Tag329" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="Shares" decimals="INF"> 478978 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice id="Tag330" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 0.77 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodFairValue id="Tag331" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USD" decimals="0"> 155155 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod id="Tag332" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="Shares" decimals="INF"> 710338 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice id="Tag333" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 1.52 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTerminationsInPeriodFairValue id="Tag334" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USD" decimals="0"> 639709 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTerminationsInPeriodFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod id="Tag335" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="Shares" decimals="INF"> 622893 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice id="Tag336" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 1.99 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationInPeriodFairValue id="Tag337" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USD" decimals="0"> 737465 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationInPeriodFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="Tag338" contextRef="I2014_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" decimals="2"> 1.39 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingFairValue id="Tag339" contextRef="I2014_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USD" decimals="0"> 31411682 </etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingFairValue>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag340" contextRef="D2014_DirectorsOfficersAndEmployeesMember" unitRef="USD" decimals="0"> 794582 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag341" contextRef="D2014Q2YTD_DirectorsOfficersAndEmployeesMember" unitRef="USD" decimals="0"> 3392843 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag342" contextRef="D2014_ConsultantMember" unitRef="USD" decimals="0"> 67837 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag343" contextRef="D2014Q2YTD_ConsultantMember" unitRef="USD" decimals="0"> 143837 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag344" contextRef="D2014_ManagementMember" unitRef="USD" decimals="0"> 125529 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag345" contextRef="D2013_ManagementMember" unitRef="USD" decimals="0"> 420731 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag346" contextRef="D2014_StockBasedCompensationExpenseEmployeesMember" unitRef="USD" decimals="0"> 669053 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag347" contextRef="D2013_StockBasedCompensationExpenseEmployeesMember" unitRef="USD" decimals="0"> 812434 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag348" contextRef="D2014Q2YTD_ManagementMember" unitRef="USD" decimals="0"> 166516 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag349" contextRef="D2013Q2YTD_ManagementMember" unitRef="USD" decimals="0"> 1886909 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag350" contextRef="D2014Q2YTD_StockBasedCompensationExpenseEmployeesMember" unitRef="USD" decimals="0"> 3226327 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag351" contextRef="D2013Q2YTD_StockBasedCompensationExpenseEmployeesMember" unitRef="USD" decimals="0"> 3752215 </us-gaap:AllocatedShareBasedCompensationExpense>
<etak:ReconciliationOfRegisteredAndAvailableSharesAndOrOptionsTableTextBlock id="Tag352" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Reconciliation of Available Shares and/or Options as of</strong><strong> </strong><strong>September 30, 2014</strong><strong>:</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: black 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;"> <strong>Total</strong></font></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" width: 77%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Registered January 15, 2008</td> <td style=" width: 1%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" width: 1%; text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" width: 20%; text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>5,000,000</font></td> <td style=" width: 1%; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Registered October 6, 2011</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font>18,000,000</font></td> <td style=" text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Approved in <font>2013</font>*</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>23,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Approved in 2014*</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font>10,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-style: italic; text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Total Authorized under this plan</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>56,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; font-size: 10pt;"> </td> <td style=" text-align: left; vertical-align: top; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Shares issued in prior years</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>1,521,366</font></td> <td style=" text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Q<font>4</font>-<font>2013</font> share-based compensation issued in <font>2014</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font>295,551</font></td> <td style=" text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Options exercised</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>2,230,788</font></td> <td style=" text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Outstanding options</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font>40,845,597</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><strong>Available for grant:</strong></td> <td style=" padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 2.5pt double; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 2.5pt double; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>11,106,698</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div>
</etak:ReconciliationOfRegisteredAndAvailableSharesAndOrOptionsTableTextBlock>
<etak:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExchangeInPeriodWeightedAverageExercisePrice id="Tag353" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember" unitRef="USDPerShare" xsi:nil="true"/>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod id="Tag354" contextRef="D2014_6M_LongTermIncentivePlanTwentyZeroEightMember_MinimumMember"> P3Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
<etak:SharesIssuedPursuantToAgreement id="Tag355" contextRef="I20040524" unitRef="Shares" decimals="INF"> 5100000 </etak:SharesIssuedPursuantToAgreement>
<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="Tag356" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Common Stock Purchase Options Consisted of the Following as of the Quarter ended September 30, 2014 and the Years ended December 31, 2013 and 2012:</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Options:</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Number of<br/> Options</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Weighted<br/> Average Exercise<br/> Price</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; text-align: center; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Initial Fair<br/> Market<br/> Value<br/> (Outstanding<br/> Options)</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 61%;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Outstanding as of December 31, 2012</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>12,181,130</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2.15</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>15,418,671</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Granted in <font>2013</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>24,496,741</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.12</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>14,107,008</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exercised (with delivery of shares)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(809,737</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.66</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(270,682</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Forfeitures (Pre-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(805,266</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.81</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(807,662</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Expirations (Post-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(556,524</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.92</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(648,529</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exchanged for Cashless exercise</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(26,571</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.60</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(13,834</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Outstanding as of December 31, 2013</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>34,479,773</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.47</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>27,784,972</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Granted in <font>2014</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,178,033</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.22</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,159,039</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exercised (with delivery of shares)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(478,978</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.77</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(155,155</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Forfeitures (Pre-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(710,338</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.52</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(639,709</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Expirations (Post-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(622,893</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.99</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(737,465</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #ffffff;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Outstanding as of September 30, 2014</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,845,597</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.39</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,411,682</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
<us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock id="Tag357" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom;"><strong>Share-Based Compensation Expense</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>Three</font> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>Three</font> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 64%;">Consultancy services</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>67,837</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Directors and Officers (shares and options)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>125,529</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>420,731</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Employee (options)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>669,053</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>812,434</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>862,419</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,233,165</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom;"><strong>Share-Based Compensation Expense</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;"><strong>Nine</strong></font><strong> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;"><strong>Nine</strong></font><strong> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 64%;">Consultancy services</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>143,837</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Directors and Officers (shares and options)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>166,516</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,886,909</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Employee (options)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,226,327</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,752,215</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,536,680</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,639,124</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock>
<etak:NumberOfSharesReceived id="Tag358" contextRef="I2014_ContractsAndPurchaseAgreementMember" unitRef="Shares" decimals="INF"> 90100 </etak:NumberOfSharesReceived>
<etak:SharesIssuedPursuantToAgreement id="Tag359" contextRef="I2014_ContractsAndPurchaseAgreementMember" unitRef="Shares" decimals="INF"> 204000 </etak:SharesIssuedPursuantToAgreement>
<etak:NumberOfNotes id="Tag360" contextRef="D2014Q2YTD_ContractsAndPurchaseAgreementMember" unitRef="notes" decimals="INF"> 37 </etak:NumberOfNotes>
<us-gaap:DebtInstrumentFaceAmount id="Tag361" contextRef="I2014_ContractsAndPurchaseAgreementMember" unitRef="USD" decimals="0"> 3600000 </us-gaap:DebtInstrumentFaceAmount>
<etak:NumberOfNotes id="Tag362" contextRef="D2014Q2YTD_ReturnedMember_ContractsAndPurchaseAgreementMember" unitRef="notes" decimals="INF"> 21 </etak:NumberOfNotes>
<us-gaap:CompensationAndEmployeeBenefitPlansTextBlock id="Tag363" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>23</font>. <font>2006</font> Non-Qualified Stock and Option Compensation Plan and Amended and Restated <font>2008</font> Long Term Incentive Compensation Plan</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Reconciliation of Available Shares and/or Options as of</strong><strong> </strong><strong>September 30, 2014</strong><strong>:</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: black 1pt solid; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font style=" font: 10pt Times New Roman, Times, Serif;"> <strong>Total</strong></font></td> <td style=" padding-bottom: 1pt; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" width: 77%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Registered January 15, 2008</td> <td style=" width: 1%; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" width: 1%; text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" width: 20%; text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>5,000,000</font></td> <td style=" width: 1%; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Registered October 6, 2011</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font>18,000,000</font></td> <td style=" text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Approved in <font>2013</font>*</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>23,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Approved in 2014*</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font>10,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-style: italic; text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Total Authorized under this plan</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>56,000,000</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; vertical-align: top; font-size: 10pt;"> </td> <td style=" text-align: left; vertical-align: top; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Shares issued in prior years</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>1,521,366</font></td> <td style=" text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Q<font>4</font>-<font>2013</font> share-based compensation issued in <font>2014</font></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"><font>295,551</font></td> <td style=" text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;">Options exercised</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><font>2,230,788</font></td> <td style=" text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;">Outstanding options</td> <td style=" padding-bottom: 1pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt;"> </td> <td style=" border-bottom: black 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt;"><font>40,845,597</font></td> <td style=" padding-bottom: 1pt; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"><strong>Available for grant:</strong></td> <td style=" padding-bottom: 2.5pt; border-left: none; border-right: none; border-top: none; border-bottom: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 2.5pt double; text-align: left; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: black 2.5pt double; text-align: right; border-left: none; border-right: none; border-top: none; font-size: 10pt; background-color: #CCEEFF;"><font>11,106,698</font></td> <td style=" padding-bottom: 2.5pt; text-align: left; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">* These shares have not been registered on a Registration Statement on Form S-8 as of September 30, 2014.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">During the first quarter of <font>2014</font>, the Company issued <font>295,551</font> shares to various directors and officers under the <font>2008</font> Plan, in conjunction with their willingness to receive all or part of their cash compensation for the fourth quarter of <font>2013</font> in shares of the Company<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">.<font class="Apple-converted-space"> </font></font>During 2014, there have been <font>1,240,000</font> options granted to members of the management team.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During the third quarter of <font>2014</font>, the total authorized shares under the <font>2008</font> Plan increased by <font>10,000,000 to 56,000,000</font>, and the increase was approved at the Company's annual meeting of shareholders meeting held at September 12, 2014. Currently, a total of <font>40,845,597</font> stock options are outstanding at September 30, 2014 under the <font>2008</font> Plan. Options awards generally vest immediately or over a <font>three</font>-year period after the grant date. Options generally expire between three and <font>four</font> years from the date of grant.</p> <div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Common Stock Purchase Options Consisted of the Following as of the Quarter ended September 30, 2014 and the Years ended December 31, 2013 and 2012:</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Options:</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Number of<br/> Options</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Weighted<br/> Average Exercise<br/> Price</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid; text-align: center; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Initial Fair<br/> Market<br/> Value<br/> (Outstanding<br/> Options)</strong></td> <td style=" text-align: center; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 61%;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Outstanding as of December 31, 2012</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>12,181,130</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>2.15</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>15,418,671</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Granted in <font>2013</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>24,496,741</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.12</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>14,107,008</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exercised (with delivery of shares)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(809,737</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.66</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(270,682</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Forfeitures (Pre-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(805,266</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.81</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(807,662</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Expirations (Post-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(556,524</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.92</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(648,529</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exchanged for Cashless exercise</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(26,571</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.60</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(13,834</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Outstanding as of December 31, 2013</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>34,479,773</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.47</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>27,784,972</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Granted in <font>2014</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,178,033</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.22</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,159,039</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Exercised (with delivery of shares)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(478,978</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.77</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(155,155</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Forfeitures (Pre-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(710,338</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.52</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(639,709</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Expirations (Post-vesting)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(622,893</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.99</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(737,465</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #ffffff;"> <td style=" text-align: justify; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;">Outstanding as of September 30, 2014</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,845,597</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1.39</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,411,682</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Share-Based Compensation Expense</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Share-based compensation amounted to $<font>862,419</font> and $<font>1,233,165</font> for the three months ended September 30, 2014 and <font>2013</font>, respectively, and $<font>3,536,680</font> and $<font>5,639,124</font> for the nine months ended September 30, 2014 and <font>2013</font>, respectively. From these amounts, for the <font>three</font> and <font>nine</font> month periods ending September 30, 2014, $<font>794,582</font> and $<font>3,392,843</font>, respectively, consisted of shares issued to directors and officers and employee option expensing under the provisions of ASC <font>718</font> and ASC <font>505</font>-<font>50</font>,<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>Equity Based Payments to Non-Employees (“ASC 505-50”),</font> for both the <font>2006</font> Non-Qualified Stock and Option Compensation Plan and the <font>2008</font> Long-Term Incentive Plan. The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock-options at grant. The remaining $<font>67,837</font> and $<font>143,837</font> of share-based compensation for the <font>three</font> and <font>nine</font> month periods ending September 30, 2014, was not part of any compensation plan, but was the result of restricted common stock issued in <font>2013</font> with prior approval from the NYSE MKT LLC for <font>one</font> year of consultancy services.  </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom;"><strong>Share-Based Compensation Expense</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>Three</font> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font>Three</font> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 64%;">Consultancy services</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>67,837</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Directors and Officers (shares and options)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>125,529</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>420,731</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Employee (options)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>669,053</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>812,434</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>862,419</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,233,165</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom;"><strong>Share-Based Compensation Expense</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;"><strong>Nine</strong></font><strong> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10pt;"><strong>Nine</strong></font><strong> months<br/> ended</strong><font style=" font-size: 10pt;"><strong> September</strong></font><strong><br/> 30, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 64%;">Consultancy services</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>143,837</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 15%;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Directors and Officers (shares and options)</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>166,516</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>1,886,909</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Employee (options)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,226,327</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,752,215</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>3,536,680</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>5,639,124</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As explained in Note <font>1</font> to the Financial Statements, under the title “Reclassification of Changes to <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Prior Year Information</font>”, certain reclassifications have been made to the June 30, 2013 Financial Statements to conform to the current year presentation. Prior to December 31, 2013, the Company presented the share-based compensation as <font>one</font> line item in the Company's Consolidated Statement of Comprehensive Loss. The Company now includes the share-based compensation within <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">SG&A</font> expenses line in the Consolidated Statement of Comprehensive Loss. These reclassifications had <font>no</font> effect on previously reported results of operations or retained earnings.</p> </div> </div>
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<us-gaap:AllocatedShareBasedCompensationExpense id="Tag364" contextRef="D2013_ConsultantMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AllocatedShareBasedCompensationExpense id="Tag365" contextRef="D2013Q2YTD_ConsultantMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized id="Tag366" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 10000000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Tag367" contextRef="D2014Q2YTD_ManagementMember" unitRef="Shares" decimals="INF"> 1240000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod id="Tag368" contextRef="D2014_6M_LongTermIncentivePlanTwentyZeroEightMember_MaximumMember"> P4Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
<etak:DebtInstrumentReturned id="Tag369" contextRef="I2014_ReturnedMember_ContractsAndPurchaseAgreementMember" unitRef="USD" decimals="0"> 2040000 </etak:DebtInstrumentReturned>
<etak:CommonStockSharesUnreturned id="Tag370" contextRef="I2014_UnreturnedMember_ContractsAndPurchaseAgreementMember" unitRef="Shares" decimals="INF"> 113900 </etak:CommonStockSharesUnreturned>
<etak:CommonStockValueUnreturned id="Tag371" contextRef="I2014_UnreturnedMember_ContractsAndPurchaseAgreementMember" unitRef="USD" decimals="0"> 381565 </etak:CommonStockValueUnreturned>
<etak:NumberOfNotes id="Tag372" contextRef="D2014Q2YTD_UnreturnedMember_ContractsAndPurchaseAgreementMember" unitRef="notes" decimals="INF"> 18 </etak:NumberOfNotes>
<etak:DebtInstrumentUnreturned id="Tag373" contextRef="I2014_UnreturnedMember_ContractsAndPurchaseAgreementMember" unitRef="USD" decimals="0"> 1740000 </etak:DebtInstrumentUnreturned>
<us-gaap:LegalMattersAndContingenciesTextBlock id="Tag374" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>25</font>.  Contingencies</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Rescission of the Purchase Agreement of </strong><strong>March 31, 2004</strong><strong> of New Times Navigation Limited.</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As previously described in the Company's <font>2004</font> Annual Report on Form 10-K filed with the SEC on April 1, 2005, on May 24, 2004, the Company issued <font>5,100,000</font> shares of restricted Common Stock to <font>four</font> stockholders of New Times Navigation Limited ("New Times"), valued at $<font>683,400</font> (the “2004 Purchase Transaction”).  On December 10, 2004, New Times and the Company mutually agreed to terminate the 2004 Purchase Transaction. The Company returned the shares that were delivered to New Times to the Company's shareholders and received back <font>90,100</font> of the <font>204,000</font> shares of its Common Stock that were issued under the 2004 Purchase Transaction. In addition, the Company had issued <font>37</font> unsecured convertible promissory notes for a total amount of $<font>3,600,000</font> as part of the 2004 Purchase Transaction. At the Company's request <font>21</font> of the unsecured convertible promissory notes were returned to the Company for a total value of $<font>2,040,000</font>.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On April 28, 2006, the Company instituted proceedings to seek relief from the High Court of the Hong Kong Special Administrative Region against the holders of the unreturned shares to return the remaining <font>113,900</font> common shares (valued at $<font>381,565</font>) and the remaining <font>18</font> unsecured convertible promissory notes, representing a total amount of $<font>1,740,000</font>, and to rescind the purchase agreement underlying the 2004 Purchase Transaction. Since the inception of the proceedings, the parties have undertaken discovery efforts in order to resolve this matter, which have included long periods of inactivity in the process.  Management is currently considering its available options for resolving this matter, including proceeding to trial.  The outcome of this proceeding and the amount of any potential recovery, if any, is inherently uncertain and cannot be predicted.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Other</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company is involved in various claims and lawsuits incidental to its business.  In the opinion of management, the ultimate resolution of such claims and lawsuits will not have a material effect on its financial position, liquidity, or results of operations.</p> </div> </div>
</us-gaap:LegalMattersAndContingenciesTextBlock>
<us-gaap:StockIssuedDuringPeriodValueOther id="Tag375" contextRef="C246" unitRef="USD" decimals="0"> 683400 </us-gaap:StockIssuedDuringPeriodValueOther>
<etak:AccountsPayableAndCustomerDepositsCurrent id="Tag376" contextRef="I2013" unitRef="USD" decimals="0"> 2586662 </etak:AccountsPayableAndCustomerDepositsCurrent>
<us-gaap:CashAndCashEquivalentsAtCarryingValue id="Tag377" contextRef="I2014_22" unitRef="USD" decimals="0"> 1176650 </us-gaap:CashAndCashEquivalentsAtCarryingValue>
<us-gaap:ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock id="Tag378" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin: 0in 0in 0pt 0.0in; border: 1px rgb(0, 0, 0);"><font style=" font-size: 10pt;"><strong>Nine months ended</strong></font><font style=" font-size: 10pt;"><strong> </strong></font><font style=" font-size: 10pt;"><strong>September 30, 2014</strong></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Europe</strong></td> <td> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Other<br/> foreign<br/> countries</strong></td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; border-bottom: #000000 1pt solid;"> </td> <td align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Total</strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 51%;">Revenues from unaffiliated customers</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>10,715,354</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>9,975,255</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>20,690,609</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Identifiable assets</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,637,609</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,971,144</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,608,753</font></td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" margin: 0in 0in 0pt 0.0in; border: 1px rgb(0, 0, 0);"><font style=" font-size: 10pt;"><strong>Nine months ended</strong></font><font style=" font-size: 10pt;"><strong> </strong></font><font style=" font-size: 10pt;"><strong>September 30, 2013</strong></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Europe</strong></td> <td> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Other foreign<br/> countries</strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; border-bottom: #000000 1pt solid;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Total</strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 51%;">Revenues from unaffiliated customers</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>15,542,781</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>1,252,846</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>16,795,627</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Identifiable assets</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,428,900</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>15,024,046</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>46,452,946</font></td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock>
<us-gaap:Revenues id="Tag379" contextRef="C215" unitRef="USD" decimals="0"> 10715354 </us-gaap:Revenues>
<us-gaap:Revenues id="Tag380" contextRef="C216" unitRef="USD" decimals="0"> 9975255 </us-gaap:Revenues>
<us-gaap:Revenues id="Tag381" contextRef="D2014Q2YTD" unitRef="USD" decimals="0"> 20690609 </us-gaap:Revenues>
<us-gaap:Assets id="Tag382" contextRef="I2014_EuropeMember" unitRef="USD" decimals="0"> 31637609 </us-gaap:Assets>
<us-gaap:Assets id="Tag383" contextRef="I2014_OtherForeignCountriesMember" unitRef="USD" decimals="0"> 8971144 </us-gaap:Assets>
<us-gaap:Revenues id="Tag384" contextRef="C217" unitRef="USD" decimals="0"> 15542781 </us-gaap:Revenues>
<us-gaap:Revenues id="Tag385" contextRef="C218" unitRef="USD" decimals="0"> 1252846 </us-gaap:Revenues>
<us-gaap:Revenues id="Tag386" contextRef="D2013Q2YTD" unitRef="USD" decimals="0"> 16795627 </us-gaap:Revenues>
<us-gaap:Assets id="Tag387" contextRef="I2013_EuropeMember" unitRef="USD" decimals="0"> 31428900 </us-gaap:Assets>
<us-gaap:Assets id="Tag388" contextRef="I2013_OtherForeignCountriesMember" unitRef="USD" decimals="0"> 15024046 </us-gaap:Assets>
<us-gaap:Assets id="Tag389" contextRef="I2013_22" unitRef="USD" decimals="0"> 46452946 </us-gaap:Assets>
<us-gaap:ConcentrationRiskPercentage1 id="Tag390" contextRef="D2014Q2YTD_SalesRevenueServicesNetMember_CustomerOneMember" unitRef="Pure" decimals="2"> 0.45 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 id="Tag391" contextRef="D2014Q2YTD_SalesRevenueServicesNetMember_CustomerTwoMember" unitRef="Pure" decimals="2"> 0.40 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 id="Tag392" contextRef="D2013Q2YTD_SalesRevenueServicesNetMember_CustomerOneMember" unitRef="Pure" decimals="2"> 0.46 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 id="Tag393" contextRef="D2013Q2YTD_SalesRevenueServicesNetMember_CustomerTwoMember" unitRef="Pure" decimals="2"> 0.09 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:SegmentReportingDisclosureTextBlock id="Tag394" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>26</font>. Geographic and Concentration Risk Information</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">    </p> <div> <p style=" margin: 0in 0in 0pt 0.0in; border: 1px rgb(0, 0, 0);"><font style=" font-size: 10pt;"><strong>Nine months ended</strong></font><font style=" font-size: 10pt;"><strong> </strong></font><font style=" font-size: 10pt;"><strong>September 30, 2014</strong></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Europe</strong></td> <td> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Other<br/> foreign<br/> countries</strong></td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; border-bottom: #000000 1pt solid;"> </td> <td align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Total</strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 51%;">Revenues from unaffiliated customers</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>10,715,354</font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>9,975,255</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>20,690,609</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Identifiable assets</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,637,609</font></td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>8,971,144</font></td> <td style=" text-align: right; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>40,608,753</font></td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" margin: 0in 0in 0pt 0.0in; border: 1px rgb(0, 0, 0);"><font style=" font-size: 10pt;"><strong>Nine months ended</strong></font><font style=" font-size: 10pt;"><strong> </strong></font><font style=" font-size: 10pt;"><strong>September 30, 2013</strong></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Europe</strong></td> <td> </td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="2" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Other foreign<br/> countries</strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-left: none; border-right: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; border-bottom: #000000 1pt solid;"> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Total</strong></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 51%;">Revenues from unaffiliated customers</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>15,542,781</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>1,252,846</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 14%;"><font>16,795,627</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Identifiable assets</td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,428,900</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>15,024,046</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>46,452,946</font></td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Concentration of Credit Risk and Significant Customers</strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has <font>no</font> off-balance sheet risks related to foreign exchange contracts, option contracts or other foreign hedging arrangements. The Company currently maintains the majority of its cash equivalent balances with <font>one</font> major financial institution. The Company, by policy, routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited and has not experienced significant write-downs in its accounts receivable balances.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014, <font>two</font> significant customers accounted for <font>45</font>% and <font>40</font>%, respectively, of the Company's revenue. In the same period for <font>2013</font>, <font>two</font> significant customers represented <font>46</font>% and <font>9</font>%, respectively, of the Company's revenue. The loss, or reduction in services to, these significant customers or other discontinuation of their relationship with the Company's for any reason, or if either of these significant customers reduces or postpones purchases that the Company expects to receive, it could have an adverse impact on the Company's business, results of operations and financial condition.</p> </div> </div>
</us-gaap:SegmentReportingDisclosureTextBlock>
<us-gaap:AccountsReceivableNetCurrent id="Tag395" contextRef="I2013" unitRef="USD" decimals="0"> 5976879 </us-gaap:AccountsReceivableNetCurrent>
<us-gaap:AssetsCurrent id="Tag396" contextRef="I2014_22" unitRef="USD" decimals="0"> 10419943 </us-gaap:AssetsCurrent>
<us-gaap:AssetsCurrent id="Tag397" contextRef="I2013" unitRef="USD" decimals="0"> 9675007 </us-gaap:AssetsCurrent>
<us-gaap:DebtInstrumentUnamortizedDiscount id="Tag398" contextRef="I2013_ConvertibleNoteOneMember" unitRef="USD" decimals="0"> 1719585 </us-gaap:DebtInstrumentUnamortizedDiscount>
<us-gaap:NotesPayableRelatedPartiesClassifiedCurrent id="Tag399" contextRef="I2013" unitRef="USD" decimals="0"> 1033719 </us-gaap:NotesPayableRelatedPartiesClassifiedCurrent>
<us-gaap:CashAndCashEquivalentsAtCarryingValue id="Tag400" contextRef="I2013" unitRef="USD" decimals="0"> 1252315 </us-gaap:CashAndCashEquivalentsAtCarryingValue>
<us-gaap:LiabilitiesCurrent id="Tag401" contextRef="I2014_22" unitRef="USD" decimals="0"> 11210536 </us-gaap:LiabilitiesCurrent>
<us-gaap:LiabilitiesCurrent id="Tag402" contextRef="I2013" unitRef="USD" decimals="0"> 11381343 </us-gaap:LiabilitiesCurrent>
<us-gaap:LongTermLoansPayable id="Tag403" contextRef="I2014_22" unitRef="USD" decimals="0"> 4663227 </us-gaap:LongTermLoansPayable>
<us-gaap:LongTermLoansPayable id="Tag404" contextRef="I2013" unitRef="USD" decimals="0"> 4779913 </us-gaap:LongTermLoansPayable>
<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue id="Tag405" contextRef="I2014_22" unitRef="USD" decimals="0"> 169536 </us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
<us-gaap:WarrantsAndRightsOutstanding id="Tag406" contextRef="I2014_22" unitRef="USD" decimals="0"> 2248169 </us-gaap:WarrantsAndRightsOutstanding>
<us-gaap:WarrantsAndRightsOutstanding id="Tag407" contextRef="I2013" unitRef="USD" decimals="0"> 1973534 </us-gaap:WarrantsAndRightsOutstanding>
<us-gaap:DueToRelatedPartiesNoncurrent id="Tag408" contextRef="I2014_22" unitRef="USD" xsi:nil="true"/>
<us-gaap:DueToRelatedPartiesNoncurrent id="Tag409" contextRef="I2013" unitRef="USD" decimals="0"> 602047 </us-gaap:DueToRelatedPartiesNoncurrent>
<us-gaap:LiabilitiesNoncurrent id="Tag410" contextRef="I2014_22" unitRef="USD" decimals="0"> 7173308 </us-gaap:LiabilitiesNoncurrent>
<us-gaap:LiabilitiesNoncurrent id="Tag411" contextRef="I2013" unitRef="USD" decimals="0"> 8201023 </us-gaap:LiabilitiesNoncurrent>
<us-gaap:Liabilities id="Tag412" contextRef="I2014_22" unitRef="USD" decimals="0"> 18383844 </us-gaap:Liabilities>
<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue id="Tag413" contextRef="I2013" unitRef="USD" decimals="0"> 191600 </us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
<us-gaap:Liabilities id="Tag414" contextRef="I2013" unitRef="USD" decimals="0"> 19582366 </us-gaap:Liabilities>
<us-gaap:PreferredStockParOrStatedValuePerShare id="Tag415" contextRef="I2014_22" unitRef="USDPerShare" decimals="INF"> 0.00001 </us-gaap:PreferredStockParOrStatedValuePerShare>
<us-gaap:PreferredStockSharesAuthorized id="Tag416" contextRef="I2014_22" unitRef="Shares" decimals="INF"> 50000000 </us-gaap:PreferredStockSharesAuthorized>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">For financial statement purposes, loss before the income tax provision is divided amongst the following;</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>For the Three Months</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>For the Nine Months</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Period ended </strong><strong>September 30</strong><strong>,</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Period ended </strong><strong>September 30</strong><strong>,</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Domestic</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(3,138,444</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(2,771,554</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(10,766,842</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(11,462,493</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Foreign</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>700,568</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(412,539</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(274,798</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(4,552,083</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(2,437,876</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(3,184,093</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(11,041,640</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(16,014,577</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock>
<us-gaap:CurrentForeignTaxExpenseBenefit id="Tag636" contextRef="D2014Q2YTD" unitRef="USD" decimals="0"> 88290 </us-gaap:CurrentForeignTaxExpenseBenefit>
<us-gaap:CurrentIncomeTaxExpenseBenefit id="Tag637" contextRef="D2014Q2YTD" unitRef="USD" decimals="0"> 88290 </us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock id="Tag638" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Income tax (benefit)/expense for the nine month periods ended September 30, 2014 and September 30, 2013 is summarized as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);">September 30,<br/> 2014</p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);">September 30,<br/> 2013</p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-size: 10pt;">Current:</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Federal</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">State</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px; width: 74%;">Foreign</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: right; width: 10%;"><font>41,500</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 0px; padding-left: 5px; font-size: 10pt; text-align: right;"><font>41,500</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: right;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;">Deferred:</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Federal</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">State</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Foreign</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Income tax expense</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>41,500</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock id="Tag639" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The following is a reconciliation of the provision for income taxes at the US federal statutory rate (<font>34</font>%) to the foreign income tax rate for the nine month periods ended September 30, 2014 and <font>2013</font>:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Tax expense (credit) at statutory rate-federal</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>34</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>34</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">State tax expense net of federal tax</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Foreign income tax rate difference</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(6.5</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(5.5</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Change in valuation allowance</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(26.7</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(28.2</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Tax expense at actual rate</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.8</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.3</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock id="Tag640" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at September 30, 2014 and December 31, 2013 are as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">  </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt; vertical-align: bottom;">Deferred tax assets:</td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px; width: 72%;">Net Operating Losses</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 11%;"><font>44,769,259</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 11%;"><font>33,740,565</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total gross deferred tax assets</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>44,769,259</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>33,740,565</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Less: Valuation allowance</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(44,769,259</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(33,740,565</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Net deferred tax assets</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:SummaryOfOperatingLossCarryforwardsTextBlock id="Tag641" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014 and December 31, 2013, the Company had federal and state income tax NOLs carry forwards of approximately $<font>33</font> million and $<font>34</font> million, respectively. The NOL carry forwards for foreign countries amounts to approximately $<font>131</font> million. Such NOL carry forwards expire as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong> </strong></td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Domestic (US)</strong></td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Foreign</strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 70%; text-align: left;"><font>2014</font>-<font>2019</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 13%;"><font>514,911</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 13%;"><font>28,969,104</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: left;"><font>2019</font>-<font>2024</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,173,661</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,307,025</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: left;"><font>2024</font>-<font>2031</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>28,132,938</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>78,233,028</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; font-size: 10pt; text-align: left;">NOL's as of September 30, 2014</td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>32,821,510</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>138,509,157</font></td> </tr> </table> </div> </div>
</us-gaap:SummaryOfOperatingLossCarryforwardsTextBlock>
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate id="Tag642" contextRef="D2014Q2YTD" unitRef="Pure" decimals="INF"> 0.34 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
<us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate id="Tag643" contextRef="D2013Q2YTD" unitRef="Pure" decimals="INF"> 0.34 </us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
<us-gaap:ScheduleOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForwardTableTextBlock id="Tag644" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company does not currently anticipate recording any amount for unrecognized tax benefits within the next <font>12</font> months. The following table summarizes the <font>2012</font> and <font>2013</font> activity related to the unrecognized tax benefits and related tax carry forward:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 85%; background-color: #CCEEFF;"><strong>Balance at </strong><strong>December 31, 2012</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%; background-color: #CCEEFF;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%; background-color: #CCEEFF;"><font>289,136</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;">Decreases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><font>(289,136</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Balance at </strong><strong>December 31, 2013</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"><strong>Balance at </strong><strong>September 30, 2014</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><strong>$</strong></td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><strong><font>-</font></strong></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div>
</us-gaap:ScheduleOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForwardTableTextBlock>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic id="Tag645" contextRef="D2014Q2YTD" unitRef="USD" decimals="0"> -10766842 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic>
<us-gaap:IncomeTaxDisclosureTextBlock id="Tag646" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note 24.  </font><u><font style=" text-decoration: underline; font-size: 10pt;">Income Taxes</font></u></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">For financial statement purposes, loss before the income tax provision is divided amongst the following;</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>For the Three Months</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>For the Nine Months</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Period ended </strong><strong>September 30</strong><strong>,</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="6" style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Period ended </strong><strong>September 30</strong><strong>,</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2014</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 48%;">Domestic</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(3,138,444</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(2,771,554</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(10,766,842</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>(11,462,493</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Foreign</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>700,568</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(412,539</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(274,798</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(4,552,083</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(2,437,876</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(3,184,093</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(11,041,640</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(16,014,577</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company files income tax returns in the US federal jurisdiction and various state and foreign jurisdictions. The applicable statutory tax rates vary between none (<font>zero</font>) and <font>34</font>%. However, because the Company and its subsidiaries have incurred annual corporate income tax losses since their inception, management has determined that it is more likely than not that the Company will not realize the benefits of its US and foreign net deferred tax assets. Therefore, the Company has recorded a full valuation allowance to reduce the net carrying amount of the deferred taxes to <font>zero</font>. The Company's provision (benefit) for income taxes for the <font>three</font> and <font>nine</font> month periods ending on September 30, 2014 were $<font>(44,938)</font> and $<font>88,290</font>, respectively.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">In the ordinary course of business the Company is subject to tax examinations in the jurisdictions in which it files tax returns. The Company's statute of limitations for tax examinations is <font>four</font> years for federal and state purposes and <font>four</font> to <font>six</font> years in the major foreign jurisdictions in which the company files.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Income tax (benefit)/expense for the nine month periods ended September 30, 2014 and September 30, 2013 is summarized as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);">September 30,<br/> 2014</p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);">September 30,<br/> 2013</p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-size: 10pt;">Current:</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Federal</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">State</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px; width: 74%;">Foreign</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: right; width: 10%;"><font>41,500</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" font-size: 10pt;"> </td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 0px; padding-left: 5px; font-size: 10pt; text-align: right;"><font>41,500</font></td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; text-align: right;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;">Deferred:</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Federal</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">State</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Foreign</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font style=" font-size: 10.0pt; line-height: 115%; font-family : Times New Roman; mso-fareast-font-family : Times New Roman; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Income tax expense</font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>88,290</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>41,500</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The following is a reconciliation of the provision for income taxes at the US federal statutory rate (<font>34</font>%) to the foreign income tax rate for the nine month periods ended September 30, 2014 and <font>2013</font>:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September 30</strong><strong>,<br/> 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 74%;">Tax expense (credit) at statutory rate-federal</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>34</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 10%;"><font>34</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">State tax expense net of federal tax</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Foreign income tax rate difference</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(6.5</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(5.5</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Change in valuation allowance</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(26.7</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(28.2</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Other</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Tax expense at actual rate</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.8</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>0.3</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at September 30, 2014 and December 31, 2013 are as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">  </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" font-size: 10pt; vertical-align: bottom;">Deferred tax assets:</td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> 2014</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"> <p style=" margin: 0in 0in 0pt 0.25in; border: 1px rgb(0, 0, 0);"><strong>September</strong><strong> </strong><strong>30</strong><strong>,<br/> 2013</strong></p> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px; width: 72%;">Net Operating Losses</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 11%;"><font>44,769,259</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">$</td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 11%;"><font>33,740,565</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Total gross deferred tax assets</td> <td style=" font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>44,769,259</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>33,740,565</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;">Less: Valuation allowance</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(44,769,259</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>(33,740,565</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Net deferred tax assets</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 2.80pt double; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014 and December 31, 2013, the Company had significant net operating losses (“NOL”) carry forwards. The deferred tax assets have been offset by a full valuation allowance in <font>2014</font> and <font>2013</font> due to the uncertainty of realizing any tax benefit for such losses. Releases of the valuation allowances, if any, will be recognized through earnings.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of September 30, 2014 and December 31, 2013, the Company had federal and state income tax NOLs carry forwards of approximately $<font>33</font> million and $<font>34</font> million, respectively. The NOL carry forwards for foreign countries amounts to approximately $<font>131</font> million. Such NOL carry forwards expire as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td align="center" style=" font-size: 10pt;"> </td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong> </strong></td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Domestic (US)</strong></td> <td> </td> <td align="center" colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Foreign</strong></td> <td> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 70%; text-align: left;"><font>2014</font>-<font>2019</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 13%;"><font>514,911</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%;">$</td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 13%;"><font>28,969,104</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: left;"><font>2019</font>-<font>2024</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>4,173,661</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>31,307,025</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 9pt; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: left;"><font>2024</font>-<font>2031</font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>28,132,938</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="right" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>78,233,028</font></td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; font-size: 10pt; text-align: left;">NOL's as of September 30, 2014</td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>32,821,510</font></td> <td align="left" style=" padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;">$</td> <td align="right" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>138,509,157</font></td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Section <font>382</font> of the Internal Revenue Code limits the use of NOLs and tax credit carry forwards in certain situations where changes occur in the stock ownership of a company. In the event the Company has a changes in ownership, utilization of the NOL carry forward could be restricted.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company files federal income tax returns in the US and various US state and foreign jurisdictions. Due to the net operating loss, all the tax years are open for tax examination. As of September 30, 2014 and December 31, 2013, the Company accrued an ASC <font>740</font>-<font>10</font> tax reserve of $<font>0</font> and $<font>0</font> for uncertain tax (benefits)/liability including interest and penalties.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company does not currently anticipate recording any amount for unrecognized tax benefits within the next <font>12</font> months. The following table summarizes the <font>2012</font> and <font>2013</font> activity related to the unrecognized tax benefits and related tax carry forward:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 85%; background-color: #CCEEFF;"><strong>Balance at </strong><strong>December 31, 2012</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%; background-color: #CCEEFF;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 12%; background-color: #CCEEFF;"><font>289,136</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;">Decreases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><font>(289,136</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;">)</td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong>Balance at </strong><strong>December 31, 2013</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">$</td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;">Increases related to prior year tax positions</td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"><strong>Balance at </strong><strong>September 30, 2014</strong></td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" border-bottom: #000000 1pt solid; text-align: left; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><strong>$</strong></td> <td style=" border-bottom: #000000 1pt solid; text-align: right; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"><strong><font>-</font></strong></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> </div> </div>
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<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic id="Tag647" contextRef="D2013Q2YTD" unitRef="USD" decimals="0"> -11462493 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="Tag648" contextRef="D2014" unitRef="USD" decimals="0"> 700568 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="Tag649" contextRef="D2013" unitRef="USD" decimals="0"> -412539 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="Tag650" contextRef="D2014Q2YTD" unitRef="USD" decimals="0"> -274798 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign id="Tag651" contextRef="D2013Q2YTD" unitRef="USD" decimals="0"> -4552083 </us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
<us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential id="Tag652" contextRef="D2014Q2YTD" unitRef="Pure" decimals="3"> -0.065 </us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
<us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential id="Tag653" contextRef="D2013Q2YTD" unitRef="Pure" decimals="3"> -0.055 </us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company had non-controlling interests in several of its subsidiaries. The balance of the non-controlling interests as of September 30, 2014 (unaudited) and December 31, 2013 were as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style=" width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: bottom;"><strong>Subsidiary</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center;"><strong>Non-controlling<br/> Interest %</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center;"><font style=" font-size: 10pt;"><strong>September </strong></font><strong> <br/> <font>30</font>, <font>2014</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center;"><strong>December<br/> 31, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid;">(unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" width: 61%;">ETC PRS UK</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;"> </td> <td style=" text-align: right; width: 10%;"><font>49</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;">$</td> <td style=" text-align: right; width: 10%;"><font>9,744</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;">$</td> <td style=" text-align: right; width: 10%;"><font>9,894</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>ETC PRS Netherlands</td> <td style=" font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>49</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>124,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>134,912</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td>ET Bahrain WLL</td> <td style=" font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>1</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>ET ME&A FZ LLC</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>49.46</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" text-align: right; border-bottom: #000000 1pt solid;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" text-align: right; border-bottom: #000000 1pt solid;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td> </td> <td> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td> </td> <td> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double;">$</td> <td style=" text-align: right; border-bottom: #000000 2.80pt double;"><font>134,062</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double;">$</td> <td style=" text-align: right; border-bottom: #000000 2.80pt double;"><font>144,806</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div>
</etak:NoncontrollingInterestsDisclosureTableTextBlock>
<us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities id="Tag688" contextRef="D2014Q2YTD_CommonStockMember" unitRef="Shares" decimals="INF"> 4238501 </us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>21</font>.  Non-controlling Interest</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company had non-controlling interests in several of its subsidiaries. The balance of the non-controlling interests as of September 30, 2014 (unaudited) and December 31, 2013 were as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style=" width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" vertical-align: bottom;"><strong>Subsidiary</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td colspan="2" style=" text-align: center;"><strong>Non-controlling<br/> Interest %</strong></td> <td style=" padding: 0px; font-size: 10pt;"><strong> </strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center;"><font style=" font-size: 10pt;"><strong>September </strong></font><strong> <br/> <font>30</font>, <font>2014</font></strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center;"><strong>December<br/> 31, 2013</strong></td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" text-align: center; border-bottom: #000000 1pt solid;">(unaudited)</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="2" style=" border-bottom: #000000 1pt solid;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td colspan="2"> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" width: 61%;">ETC PRS UK</td> <td style=" padding: 0px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;"> </td> <td style=" text-align: right; width: 10%;"><font>49</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt; width: 1%;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;">$</td> <td style=" text-align: right; width: 10%;"><font>9,744</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> <td style=" width: 1%;">$</td> <td style=" text-align: right; width: 10%;"><font>9,894</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>ETC PRS Netherlands</td> <td style=" font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>49</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>124,318</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>134,912</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td>ET Bahrain WLL</td> <td style=" font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>1</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>ET ME&A FZ LLC</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"><font>49.46</font></td> <td style=" text-align: left; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-size: 10pt;">%</td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" text-align: right; border-bottom: #000000 1pt solid;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 1pt solid;"> </td> <td style=" text-align: right; border-bottom: #000000 1pt solid;"><font>-</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td> </td> <td style=" vertical-align: top; text-align: left; font-size: 10pt;"> </td> <td> </td> <td> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td> </td> <td style=" text-align: right;"> </td> <td style=" text-align: left; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td>Total</td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td> </td> <td> </td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double;">$</td> <td style=" text-align: right; border-bottom: #000000 2.80pt double;"><font>134,062</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td style=" border-bottom: #000000 2.80pt double;">$</td> <td style=" text-align: right; border-bottom: #000000 2.80pt double;"><font>144,806</font></td> <td style=" text-align: left; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> </tr> </table> </div> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Net losses attributable to non-controlling interest were insignificant for all the years presented.</p> </div> </div>
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<us-gaap:MinorityInterest id="Tag691" contextRef="I2014_ElephantTalkMiddleEastAndAfricaFzLlcMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:MinorityInterest id="Tag692" contextRef="I2013_ElephantTalkBahrainWllMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:MinorityInterest id="Tag693" contextRef="I2013_ElephantTalkMiddleEastAndAfricaFzLlcMember" unitRef="USD" xsi:nil="true"/>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The table below summarizes the warrants outstanding as of </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;"> and as of </font><font style=" font-size: 10pt;">December 2013</font><font style=" font-size: 10pt;">:</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Outstanding<br/> Warrants</font></strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Exercise/<br/> Conversion<br/> price(s)<br/>  (range)</font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Expiring</font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font><font style=" font-size: 10pt;">2014</font></font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font><font style=" font-size: 10pt;">2013</font></font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; width: 50%; padding-top: 0px; padding-left: 10px; background-color: #CCEEFF;"><font style=" font-size: 10pt;">Warrants – Fundraising</font></td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 9%; background-color: #CCEEFF;"><font style=" font-size: 10pt;">$</font><font><font style=" font-size: 10pt;">0.853</font></font><font style=" font-size: 10pt;">- $</font><font><font style=" font-size: 10pt;">2.00</font></font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">2013</font></font><font style=" font-size: 10pt;"> - </font><font><font style=" font-size: 10pt;">2018</font></font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">29,612,201</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">37,229,230</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;"><font style=" font-size: 10pt;">Warrants – Other</font></td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font style=" font-size: 10pt;">$</font><font><font style=" font-size: 10pt;">2.21</font></font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">2016</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right;"><font><font style=" font-size: 10pt;">18,659</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right;"><font><font style=" font-size: 10pt;">18,659</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">29,630,860</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">37,247,889</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div>
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<us-gaap:StockIssuedDuringPeriodSharesPeriodIncreaseDecrease id="Tag695" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 10845388 </us-gaap:StockIssuedDuringPeriodSharesPeriodIncreaseDecrease>
<etak:ClassOfWarrantOrRightExercised id="Tag696" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 5518392 </etak:ClassOfWarrantOrRightExercised>
<etak:NumberOfCommonStockSharesIssuedUponExerciseOfWarrants id="Tag697" contextRef="D2014Q2YTD_CommonStockMember" unitRef="Shares" decimals="INF"> 5518392 </etak:NumberOfCommonStockSharesIssuedUponExerciseOfWarrants>
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation id="Tag698" contextRef="D2014Q2YTD_CommonStockMember" unitRef="Shares" decimals="INF"> 309511 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation id="Tag699" contextRef="D2014Q2YTD_LongTermIncentivePlanTwentyZeroEightMember_CommonStockMember" unitRef="Shares" decimals="INF"> 295551 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation id="Tag700" contextRef="D2014Q2YTD_NonQualifiedStockOptionAndOptionCompensationPlanTwentyZeroSixMember_CommonStockMember" unitRef="Shares" decimals="INF"> 13960 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
<etak:NumberOfSharesIssuedAccordingToStockTransferAgent id="Tag701" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 151558089 </etak:NumberOfSharesIssuedAccordingToStockTransferAgent>
<etak:NumberOfSharesIssuedAccordingToStockTransferAgent id="Tag702" contextRef="D2013_20" unitRef="Shares" decimals="INF"> 140712701 </etak:NumberOfSharesIssuedAccordingToStockTransferAgent>
<etak:SharesIssuedDifference id="Tag703" contextRef="I2014_22" unitRef="Shares" decimals="INF"> 245900 </etak:SharesIssuedDifference>
<etak:UnreturnedSharesFromCancelledAcquisitions id="Tag704" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 233900 </etak:UnreturnedSharesFromCancelledAcquisitions>
<etak:SharesIssuedUnderEmployeeBenefitsPlanTreasuryShares id="Tag705" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 12000 </etak:SharesIssuedUnderEmployeeBenefitsPlanTreasuryShares>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag706" contextRef="I2014_WeightedAverageMember" unitRef="USDPerShare" decimals="2"> 1.25 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag707" contextRef="I2014_WarrantsFundraisingMember_MinimumMember" unitRef="USDPerShare" decimals="3"> 0.853 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag708" contextRef="I2014_WarrantsFundraisingMember_MaximumMember" unitRef="USDPerShare" decimals="2"> 2.00 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag709" contextRef="I2014_WarrantsFundraisingMember_1" unitRef="Shares" decimals="INF"> 29612201 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag710" contextRef="I2013_WarrantsFundraisingMember" unitRef="Shares" decimals="INF"> 37229230 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag711" contextRef="I2014_WarrantsOtherMember" unitRef="USDPerShare" decimals="2"> 2.21 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag712" contextRef="I2014_WarrantsOtherMember" unitRef="Shares" decimals="INF"> 18659 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag713" contextRef="I2013_WarrantsOtherMember" unitRef="Shares" decimals="INF"> 18659 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag714" contextRef="I2014_22" unitRef="Shares" decimals="INF"> 29630860 </us-gaap:ClassOfWarrantOrRightOutstanding>
<us-gaap:ClassOfWarrantOrRightOutstanding id="Tag715" contextRef="I2013" unitRef="Shares" decimals="INF"> 37247889 </us-gaap:ClassOfWarrantOrRightOutstanding>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline;"><font style=" font-size: 10pt;">Note </font><font><font style=" font-size: 10pt;">20</font></font><font style=" font-size: 10pt;">. Stockholders' Equity</font></font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" font-size: 10pt;">(A) Common Stock</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The Company is presently authorized to issue </font><font><font style=" font-size: 10pt;">250,000,000</font></font><font style=" font-size: 10pt;"> shares common stock. The Company had </font><font><font style=" font-size: 10pt;">151,312,189</font></font><font style=" font-size: 10pt;"> and </font><font><font style=" font-size: 10pt;">140,466,801</font></font><font style=" font-size: 10pt;"> shares of common stock issued and outstanding as of </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;"> (unaudited) and </font><font style=" font-size: 10pt;">December 31, 2013</font><font style=" font-size: 10pt;">, respectively, an increase of </font><font><font style=" font-size: 10pt;">10,845,388</font></font><font style=" font-size: 10pt;"> shares, largely due to: the issuance of </font><font><font style=" font-size: 10pt;">5,518,392</font></font><font style=" font-size: 10pt;"> shares that were issued as a result of the exercise of </font><font><font style=" font-size: 10pt;">5,518,392</font></font><font style=" font-size: 10pt;"> warrants; </font><font><font style=" font-size: 10pt;">4,238,501</font></font><font style=" font-size: 10pt;"> shares were issued as a result of the conversion of a note; </font><font><font style=" font-size: 10pt;">478,984</font></font><font style=" font-size: 10pt;"> shares were issued to employees as a result of exercised employee stock options; </font><font><font style=" font-size: 10pt;">309,511</font></font><font style=" font-size: 10pt;"> shares (of which </font><font><font style=" font-size: 10pt;">295,551</font></font><font style=" font-size: 10pt;"> shares were issued from the </font><font><font style=" font-size: 10pt;">2008</font></font><font style=" font-size: 10pt;"> Plan plus </font><font><font style=" font-size: 10pt;">13,960</font></font><font style=" font-size: 10pt;"> shares issued under the </font><font><font style=" font-size: 10pt;">2006</font></font><font style=" font-size: 10pt;"> Plan) were issued as compensation to the Company's executive officers and non-executive directors, and </font><font><font style=" font-size: 10pt;">300,000</font></font><font style=" font-size: 10pt;"> shares issued as consideration for consulting services.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" font-size: 10pt;">Reconciliation with Stock Transfer Agent Records:</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The shares issued and outstanding as of </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;"> and </font><font style=" font-size: 10pt;">December 31, 2013</font><font style=" font-size: 10pt;"> according to the Company's stock transfer agent's records were </font><font><font style=" font-size: 10pt;">151,558,089</font></font><font style=" font-size: 10pt;"> and </font><font><font style=" font-size: 10pt;">140,712,701</font></font><font style=" font-size: 10pt;">, respectively. The difference in number of issued shares recognized by the Company of </font><font><font style=" font-size: 10pt;">151,312,189</font></font><font style=" font-size: 10pt;"> amounts to </font><font><font style=" font-size: 10pt;">245,900</font></font><font style=" font-size: 10pt;"> and it is the result of the exclusion of the </font><font><font style=" font-size: 10pt;">233,900</font></font><font style=" font-size: 10pt;"> unreturned shares from ‘cancelled' acquisitions (pre-</font><font><font style=" font-size: 10pt;">2006</font></font><font style=" font-size: 10pt;">) and </font><font><font style=" font-size: 10pt;">12,000</font></font><font style=" font-size: 10pt;"> treasury shares issued under the former employee benefits plan.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" font-size: 10pt;">(B) Preferred Stock</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The Company's Certificate of Incorporation (“Articles”) authorizes the issuance of </font><font><font style=" font-size: 10pt;">50,000,000</font></font><font style=" font-size: 10pt;"> shares of preferred stock $</font><font><font style=" font-size: 10pt;">0.00001</font></font><font style=" font-size: 10pt;"> par value per share (the “Preferred Stock”). </font><font><font style=" font-size: 10pt;">No</font></font><font style=" font-size: 10pt;"> shares of Preferred Stock are currently issued and outstanding. Under the Company's Articles, the board of directors has the power, without further action by the holders of the common stock, subject to the rules of the NYSE MKT LLC, to designate the relative rights and preferences of the Preferred Stock, and issue the Preferred Stock in such </font><font><font style=" font-size: 10pt;">one</font></font><font style=" font-size: 10pt;"> or more series as designated by the Board of Directors. The designation of rights and preferences could include preferences as to liquidation, redemption and conversion rights, voting rights, dividends or other preferences, any of which may be dilutive of the interest of the holders of the common stock or the Preferred Stock of any other series. The issuance of Preferred Stock may have the effect of delaying or preventing a change in control of the Company without further stockholder action and may adversely affect the rights and powers, including voting rights, of the holders of common stock. In certain circumstances, the issuance of Preferred Stock could depress the market price of the common stock.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">For the period ended </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;">, the Company did not issue any shares of Preferred Stock, and </font><font><font style=" font-size: 10pt;">no</font></font><font style=" font-size: 10pt;"> shares of Preferred Stock are outstanding.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" font-size: 10pt;">(C) Warrants</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">Throughout </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">the years, the Company has issued warrants with varying terms and conditions related to multiple financing rounds, acquisitions and other transactions. The warrants outstanding at September 30, 2014 (unaudited) and December 31, 2013 have been recorded and classified as equity, except as of September 30, 2014 and December 31, 2013; the Company has recorded</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">2,248,169</font></font><font style=" font-size: 10pt;"> and $</font><font><font style=" font-size: 10pt;">1,973,534</font></font><font style=" font-size: 10pt;">, respectively, in the balance sheet for the warrant liabilities issued in connection with the Registered Direct Offering described in Note </font><font><font style=" font-size: 10pt;">16</font></font><font style=" font-size: 10pt;">. During the nine months of 2014, </font><font><font style=" font-size: 10pt;">5,518,392</font></font><font style=" font-size: 10pt;"> warrants were exercised, </font><font><font style=" font-size: 10pt;">2,598,637</font></font><font style=" font-size: 10pt;"> expired and </font><font><font style=" font-size: 10pt;">500,000</font></font><font style=" font-size: 10pt;"> were issued. The weighted average exercise price for the currently outstanding warrants in the table below is $</font><font><font style=" font-size: 10pt;">1.25</font></font><font style=" font-size: 10pt;">.</font></p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The table below summarizes the warrants outstanding as of </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;"> and as of </font><font style=" font-size: 10pt;">December 2013</font><font style=" font-size: 10pt;">:</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" width="100%" style=" border-collapse: collapse; font: 10pt times new roman, times, serif;"> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Outstanding<br/> Warrants</font></strong></td> <td align="center" style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td colspan="3" align="center" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Exercise/<br/> Conversion<br/> price(s)<br/>  (range)</font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font style=" font-size: 10pt;">Expiring</font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font><font style=" font-size: 10pt;">2014</font></font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" align="center" style=" text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt;"><strong><font><font style=" font-size: 10pt;">2013</font></font></strong></td> <td align="center" style=" padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; width: 50%; padding-top: 0px; padding-left: 10px; background-color: #CCEEFF;"><font style=" font-size: 10pt;">Warrants – Fundraising</font></td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td align="center" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; width: 9%; background-color: #CCEEFF;"><font style=" font-size: 10pt;">$</font><font><font style=" font-size: 10pt;">0.853</font></font><font style=" font-size: 10pt;">- $</font><font><font style=" font-size: 10pt;">2.00</font></font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">2013</font></font><font style=" font-size: 10pt;"> - </font><font><font style=" font-size: 10pt;">2018</font></font></td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">29,612,201</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; width: 11%; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">37,229,230</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; width: 1%; background-color: #CCEEFF;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt;"> <td style=" text-align: left; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; font-size: 10pt; padding-top: 0px; padding-left: 10px;"><font style=" font-size: 10pt;">Warrants – Other</font></td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; text-align: center;"><font style=" font-size: 10pt;">$</font><font><font style=" font-size: 10pt;">2.21</font></font></td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td style=" text-align: center; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt;"><font><font style=" font-size: 10pt;">2016</font></font></td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right;"><font><font style=" font-size: 10pt;">18,659</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> <td style=" padding: 0px; font-size: 10pt;"> </td> <td colspan="5" style=" border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right;"><font><font style=" font-size: 10pt;">18,659</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt;"> </td> </tr> <tr style=" vertical-align: bottom; font-size: 10pt; background-color: #CCEEFF;"> <td style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: center; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="right" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; background-color: #CCEEFF;"> </td> <td align="left" style=" border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; padding-right: 5px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" text-align: right; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">29,630,860</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td style=" padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> <td colspan="5" style=" border-bottom: #000000 2.80pt double; border-left: none; border-right: none; border-top: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; text-align: right; background-color: #CCEEFF;"><font><font style=" font-size: 10pt;">37,247,889</font></font></td> <td style=" text-align: left; padding: 0px; font-size: 10pt; background-color: #CCEEFF;"> </td> </tr> </table> </div> </div> </div> <div></div> </div>
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<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised id="Tag717" contextRef="D2014Q2YTD_CommonStockMember" unitRef="Shares" decimals="INF"> 478984 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
<us-gaap:StockIssuedDuringPeriodSharesIssuedForServices id="Tag718" contextRef="D2014Q2YTD_CommonStockMember" unitRef="Shares" decimals="INF"> 300000 </us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
<etak:ClassOfWarrantOrRightExpired id="Tag719" contextRef="D2014Q2YTD" unitRef="Shares" decimals="INF"> 2598637 </etak:ClassOfWarrantOrRightExpired>
<etak:ClassOfWarrantOrRightExpirationDate id="Tag720" contextRef="D2014_6M_WarrantsFundraisingMember_MinimumMember"> 2013-01-01 </etak:ClassOfWarrantOrRightExpirationDate>
<etak:ClassOfWarrantOrRightExpirationDate id="Tag721" contextRef="D2014_6M_WarrantsFundraisingMember_MaximumMember"> 2018-12-31 </etak:ClassOfWarrantOrRightExpirationDate>
<etak:ClassOfWarrantOrRightExpirationDate id="Tag722" contextRef="D2014_6M_WarrantsOtherMember"> 2016-12-31 </etak:ClassOfWarrantOrRightExpirationDate>
<us-gaap:RepaymentsOfDebt id="Tag723" contextRef="C252" unitRef="USD" decimals="0"> 3123011 </us-gaap:RepaymentsOfDebt>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note 27. Subsequent Events</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><em><u>Financing</u></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">On November 17, 2014 (the “Closing Date”), the Company and certain of its subsidiaries entered into a term loan credit agreement with Atalaya Administrative LLC, as the administrative agent and collateral agent, and the lenders party thereto (the “Credit Agreement”). The Credit Agreement provides for a twelve million dollar term loan facility (the “Term Loan Facility”) with advances to be made on the Closing Date. Borrowings under the Term Loan Facility shall bear interest at the LIBOR rate plus an applicable margin per annum equal to ten percent (10.00%), such margin currently increased by an additional two percent (2.00%) pending the satisfaction of certain post-closing conditions. The Term Loan Facility will mature on December 31, 2017. A portion of the proceeds of the Credit Agreement will be used to repay 50% of the 2013 10% 3<sup>rd</sup><font class="Apple-converted-space"> </font>Party Convertible Note principal amount as well as all accrued interest, totalling approximately $3,123,011 (€2,498,849) until Closing Date. The remaining 50% of the principal amount of the Convertible Note will be converted into 2,817,993 shares of the Company's common stock at the Closing Date, totalling approximately $2,500,000 (€2,000,000). The Company also issued a three year warrant to purchase 1,000,000 shares of the Company's common stock, at an exercise price of $0.93 per share to the holder of the 2013 10% 3rd Party Convertible Note.</p> </div> </div>
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<us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock id="Tag725" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Foreign Currency Translation</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The functional currency is Euros for the Company's wholly-owned subsidiary Elephant Talk Europe Holding B.V. and its subsidiaries and the British Pound Sterling for its wholly-owned subsidiary ValidSoft. The financial statements of the Company were translated to US dollars (“USD”) using period-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses, and capital accounts were translated at their historical exchange rates when the capital transaction occurred. In accordance with Accounting Standards Codification (“ASC”) <font>830</font>, Foreign Currency Matters, net gains and losses resulting from translation of foreign currency financial statements are included in stockholders' equity as accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are included in consolidated loss; under the line item ‘Other income and (expense)' <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">for the loans, and in the line item “SG&A expenses” for accounts receivable.</font></font></p> </div>
</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
<us-gaap:UseOfEstimates id="Tag726" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Use of Estimates</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The accompanying consolidated financial statements were prepared in accordance with GAAP, which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Significant areas of estimates include revenue recognition, bad debt allowance, and valuation of financial instruments,<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>realizability of long –lived assets, including goodwill,</font> useful lives and share-based compensation. Actual results may differ from these estimates under different assumptions or conditions.</p> </div>
</us-gaap:UseOfEstimates>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock id="Tag727" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Cash and Cash Equivalents</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For purposes of the cash flow statements, the Company would normally consider all highly liquid investments with original maturities of <font>three</font> months or less at the time of purchase to be cash equivalents. The Company has full access to the whole balance of cash and cash equivalents on a daily basis without any delay.</p> </div>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy id="Tag728" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Restricted Cash</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Restricted cash as of September 30, 2014 and December 31, 2013, was $<font>169,536</font> and $<font>191,600</font> respectively, and consists of cash deposited in blocked accounts as bank guarantees for national interconnection and wholesale agreements with telecom operators.</p> </div>
</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
<us-gaap:TradeAndOtherAccountsReceivablePolicy id="Tag729" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Accounts Receivables, Net</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company's customer base is geographically dispersed. The Company maintains an allowance for potential credit losses on accounts receivable. The Company makes ongoing assumptions relating to the collectability of its accounts receivable. The accounts receivable amounts presented on its balance sheets include reserves for accounts that might not be collected. In determining the amount of these reserves, the Company considers its historical level of credit losses. The Company also makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations, and the Company assesses current economic trends that might impact the level of credit losses in the future. The Company's reserves have generally been adequate to cover its actual credit losses. However, since the Company cannot reliably predict future changes in the financial stability of its customers, it cannot guarantee that its reserves will continue to be adequate. If actual credit losses are significantly greater than the reserves, the Company has established that it would increase its general and administrative expenses and increase its reported net losses. Conversely, if actual credit losses are significantly less than its reserve, this would eventually decrease the Company's general and administrative expenses and decrease its reported net losses. Allowances are recorded primarily on a specific identification basis. See Note <font>5</font> of the Financial Statements of this Report for more information.</p> </div>
</us-gaap:TradeAndOtherAccountsReceivablePolicy>
<us-gaap:LeasePolicyTextBlock id="Tag730" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Leasing Arrangements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">At the inception of a lease covering equipment or real estate, the lease agreement is evaluated under the criteria of <em>ASC 840, Leases.</em> Leases meeting <font>one</font> of the <font>four</font> key criteria are accounted for as capital leases and all others are treated as operating leases. Under a capital lease, the discounted value of future lease payments becomes the basis for recognizing an asset and a borrowing, and lease payments are allocated between debt reduction and interest. For operating leases, payments are recorded as rent expense. Criteria for a capital lease include (i) transfer of ownership during the lease term; (ii) existence of a bargain purchase option under terms that make it likely to be exercised; (iii) a lease term equal to 75 percent or more of the economic life of the leased equipment; and (iv) minimum lease payments that equal or exceed 90 percent of the fair value of the property. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that type of asset. The assets are amortized in accordance with the Company's accounting policy for Property and Equipment.</p> </div>
</us-gaap:LeasePolicyTextBlock>
<us-gaap:RevenueRecognitionPolicyTextBlock id="Tag731" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Revenue Recognition and Deferred Revenue</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company derives revenue from outsourced services in telecommunications based activities by deploying its operational management services, network, switching technology and mobile enabling platform. Revenue represents amounts earned for these services provided to customers (net of value added tax).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company follows ASC 605, Revenue Recognition (“ASC 605”) and recognizes revenue when all of the following conditions have been met: (i) there is persuasive evidence of an arrangement; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collectability of the fee is reasonably assured. Revenues are recognized on a gross basis as the Company acts as principal in the transaction and has risk of loss for collection and delivery of service.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For the mobile solutions services, the Company recognizes revenues from <font>two</font> different service offerings, namely managed services and bundled services. For managed services, revenues are recognized for network administration services provided to end users on behalf of MNOs. Managed service revenues are recognized monthly based on an average number of end-users managed and calculated on a pre-determined service fee per user. For bundled services, the Company provides both network administration as well as mobile airtime management services. Revenues for bundled services are recognized monthly based on an average number of end-users managed and mobile air time and calculated based on a pre-determined service fee.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For the security solutions services, the Company recognizes revenues primarily from Subscriber Identity Module (“SIM”) lookup services using the VALid-SSD platform. Security solutions revenue is recognized based on the number of SIM lookups performed and calculated based on a pre-determined service fee per lookup. Other revenues recognized in the security solutions business include consulting services which are recognized as the services are performed.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For landline solution services, the Company previously provided technical, operational and financial telecom infrastructure to telecommunication service providers. Revenues are recognized when delivery occurs based on a pre-determined rate, number of calls and number of user minutes that the Company has managed in a given month.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Management's judgment is applied regarding, among other aspects, conformance with acceptance criteria and if delivery of services has occurred, to determine if revenue and costs should be recognized in the current period. In addition, management evaluates the degree of completion of the services and the customer's credit standing to assess whether payment is likely or not to justify revenue recognition.</p> </div>
</us-gaap:RevenueRecognitionPolicyTextBlock>
<us-gaap:CostOfSalesPolicyTextBlock id="Tag732" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Cost of Service and Operating Expenses</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Cost of service includes origination, termination, network and billing charges from telecommunications operators, charges from telecommunication service providers, network costs, data center costs, facility costs of hosting network and equipment, and costs of providing resale arrangements with long distance service providers, costs of leasing transmission facilities and international gateway switches for voice and data transmission services. Cost of service excludes depreciation and amortization.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">SG&A expenses include all management and personnel related expenses, including share-based compensation, and other items such as: office rent, travel and car, corporate local and legal advice, audit, accountancy and tax, investor relations, marketing and communication costs and the costs incurred in the development of the Company's services which are expensed as incurred. Costs incurred during the application development stage of internal-use software projects, such as those used in the Company's network operations, are capitalized in accordance with the accounting guidance for costs of computer software developed for internal use.</p> </div>
</us-gaap:CostOfSalesPolicyTextBlock>
<us-gaap:RepaymentsOfDebt id="Tag733" contextRef="C252" unitRef="EUR" decimals="0"> 2498849 </us-gaap:RepaymentsOfDebt>
<us-gaap:DebtConversionConvertedInstrumentAmount1 id="Tag734" contextRef="C252" unitRef="USD" decimals="0"> 2500000 </us-gaap:DebtConversionConvertedInstrumentAmount1>
<us-gaap:DebtConversionConvertedInstrumentAmount1 id="Tag735" contextRef="C252" unitRef="EUR" decimals="0"> 2000000 </us-gaap:DebtConversionConvertedInstrumentAmount1>
<us-gaap:SegmentReportingPolicyPolicyTextBlock id="Tag736" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Reporting Segments</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ASC 280, Segment Reporting (“ASC 280”), defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The business operates as <font>one</font> single segment and discrete financial information is based on the whole, not segregated; and is used by the chief decision maker accordingly.</p> </div>
</us-gaap:SegmentReportingPolicyPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy id="Tag737" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Financial Instruments</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and customer deposits approximate their fair values based on their short-term nature. The recorded values of long-term debt approximate their fair values, as interest approximates market rates. The Company's warrant liability, a derivative instrument, is recognized in the balance sheet at its fair values with changes in fair market value reported in earnings.</p> </div>
</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:FairValueMeasurementPolicyPolicyTextBlock id="Tag738" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Fair Value Measurements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In accordance with ASC 820 Fair Value Measurement (“ASC 820”), the Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. ASC <font>820</font> establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumptions about the inputs that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The fair value hierarchy is categorized into <font>three</font> levels based on the inputs as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>1</font></em> – Quoted prices are available in active markets for identical assets or liabilities as of the reported date.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>2</font></em> – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these financial instruments include cash instruments for which quoted prices are available but are traded less frequently, derivative instruments whose fair values have been derived using a model where inputs to the model are directly observable in the market and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>3</font></em> – Instruments that have little to <font>no</font> pricing observability as of the reported date. These financial instruments are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The degree of judgment exercised by the Company in determining fair value is greatest for securities categorized in Level <font>3</font>. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company, has <font>three</font> asset groups that are valued at fair value categorized within Level <font>3</font>: Warrant liabilities (recurring measurement), goodwill and intangibles (non-recurring measurements) for the impairment test. Below <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">are discussions of</font> the main assumptions used for the recurring measurements.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>Recurring Measurement - Warrant Liabilities</em></strong><strong><em> (see also Note 16)</em></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Number of </em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>Outstanding</em></em> <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font class="Apple-converted-space"> </font>Warrants</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The number of outstanding warrants is adjusted every re-measurement date after deducting the exercise or exchange of any outstanding warrants during the previous reporting period.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Stock Price at Valuation Date</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The closing stock price at re-measurement date being the last available closing price of the reporting period taken from www.nasdaq.com.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Exercise Price</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The exercise price is fixed and determined under the terms of the <font>8</font>% Senior Secured Convertible Note</font>.</p> <p><em><font style=" font-size: 10pt;">Remaining Term</font></em></p> <p><font style=" font-size: 10pt;">The remaining term is calculated by using the contractual expiration date of the 8% Senior Secured Convertible Note at the moment of re-measurement.</font></p> <p><em><font style=" font-size: 10pt;">Expected Volatility</font></em></p> <p><font style=" font-size: 10pt;">Management estimates expected cumulative volatility giving consideration to the expected life of the note and calculated the annual volatility by using the continuously compounded return calculated by using the share closing prices of an equal number of days prior to the maturity date of the note (reference period). The annual volatility is used to determine the (cumulative) volatility <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">of the Company´s</font> common stock (= annual volatility * square root (expected life)).</font></p> <p><em><font style=" font-size: 10pt;">Risk-Free Interest Rate</font></em></p> <p><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">Management estimates</font><font style=" font-size: 10pt;"> the risk-free interest rate using the “Daily Treasury Yield Curve Rates” from the US Treasury Department with a term equal to the reported rate, or derived by using both spread in intermediate term and rates, up to the maturity date of the 8% Senior Secured Convertible Note.</font></p> <p><em><font style=" font-size: 10pt;">Expected Dividend Yield</font></em></p> <p><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">Management estimates</font><font style=" font-size: 10pt;"> the expected dividend yield by giving consideration to<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"> the Company´s</font> current dividend policies as well as those anticipated in the future considering <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">the Company´s</font> current plans and projections</font>.</p> <p><em><font style=" font-size: 10pt;">Exchange </font></em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em><font style=" font-size: 10pt;">Condition</font></em></em></p> <p><font style=" font-size: 10pt;">The warrant holder has the option to do a cashless exchange of warrants at certain exchange conditions described in the warrants. The valuation for the exchange is based on a Black-Scholes calculation with pre-determined variables such as </font><em><font style=" font-size: 10pt;">volatility</font></em><font style=" font-size: 10pt;"> (<font>135</font>%), </font><em><font style=" font-size: 10pt;">remaining term</font></em><font style=" font-size: 10pt;"> (<font>5</font> years), </font><em><font style=" font-size: 10pt;">risk-free rate </font></em><font style=" font-size: 10pt;">(variable), </font><em><font style=" font-size: 10pt;">dividend yield</font></em><font style=" font-size: 10pt;"> (<font>0</font>%), </font><em><font style=" font-size: 10pt;">exercise price</font></em><font style=" font-size: 10pt;"> ($<font>0.887</font>) and </font><em><font style=" font-size: 10pt;">market price</font></em><font style=" font-size: 10pt;"> (closing bid price <font>one</font> day prior to the exchange date).</font></p> <p><em><font style=" font-size: 10pt;">Mandatory </font></em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em><font style=" font-size: 10pt;">Exercise Condition</font></em></em></p> <p><font style=" font-size: 10pt;">Management's estimate for the likelihood of being able to force a mandatory exercise of the warrants prior to the maturity of the warrant agreement.</font></p> </div>
</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
<us-gaap:DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1 id="Tag739" contextRef="C252" unitRef="Shares" decimals="INF"> 1000000 </us-gaap:DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1>
<us-gaap:DebtConversionOriginalDebtAmount1 id="Tag740" contextRef="C254" unitRef="USD" decimals="0"> 2966951 </us-gaap:DebtConversionOriginalDebtAmount1>
<us-gaap:DebtConversionConvertedInstrumentSharesIssued1 id="Tag741" contextRef="C252" unitRef="Shares" decimals="INF"> 2817993 </us-gaap:DebtConversionConvertedInstrumentSharesIssued1>
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy id="Tag742" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Share-Based Compensation</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company follows the provisions of ASC <font>718</font>, Compensation-Stock Compensation, (“ASC <font>718</font>”). Under ASC <font>718</font>, share-based awards are recorded at fair value as of the grant date and recognized as expense with an adjustment for forfeiture over the employee's requisite service period (the vesting period, generally up to <font>three</font> years). The share-based compensation cost based on the grant date fair value is amortized over the period in which the related services are received.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">To determine the value of <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> stock options at grant date under our employee stock option plan, the Company uses the Black-Scholes option-pricing model. The use of this model requires the Company to make a number of subjective assumptions. The following addresses each of these assumptions and describes <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> methodology for determining each assumption:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Life</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The expected life represents the period that the stock option awards are expected to be outstanding. The Company uses the simplified method for estimating the expected life of the option, by taking the average between time to vesting and the contract life of the award.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Volatility</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates expected cumulative volatility giving consideration to the expected life of the option of the respective award, and the calculated annual volatility by using the continuously compounded return calculated by using the share closing prices of an equal number of days prior to the grant-date (reference period). The annual volatility is used to determine the (cumulative) volatility of its Common Stock (= annual volatility x square root (expected life)).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Forfeiture Rate</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company is using the aggregate forfeiture rate. The aggregate forfeiture rate is the ratio of pre-vesting forfeitures over the awards granted (pre-vesting forfeitures/grants). The forfeiture discount (additional loss) is released into the profit and loss in the same period as the option vesting-date. The forfeiture rate is actualized every reporting period.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Risk-Free Interest Rate</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates the risk-free interest rate using the “Daily Treasury Yield Curve Rates” from the U.S. Treasury Department with a term equal to the reported rate or derived by using both spread in intermediate term and rates, to the expected life of the award.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Dividend Yield</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates the expected dividend yield by giving consideration to its current dividend policies as well as those anticipated in the future considering its current plans and projections. The Company does not currently calculate a discount for any post-vesting restrictions to which its awards may be subject.</p> </div>
</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
<us-gaap:IncomeTaxPolicyTextBlock id="Tag743" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Income Taxes</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Current tax is based on the income or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. Establishment of a valuation allowance is provided when it is more likely than deferred taxes will not be realized.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In the ordinary course of a global business, there are many transactions and calculations where the ultimate tax outcome is uncertain. Some of these uncertainties arise as a consequence of revenue sharing and reimbursement arrangements among related entities, the process of identifying items of revenue and expenses that qualify for preferential tax treatment and segregation of foreign and domestic income and expense to avoid double taxation.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company files federal income tax returns in the US, various US state jurisdictions and various foreign jurisdictions. The Company's income tax returns are open to examination by federal, state and foreign tax authorities, generally for the years ended December 31, 2008 and later, with certain state jurisdictions open for audit for earlier years. The Company's policy is to record estimated interest and penalties on unrecognized tax benefits as part of its income tax provision.</p> </div>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 id="Tag744" contextRef="C258" unitRef="USDPerShare" decimals="2"> 0.93 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ComprehensiveIncomePolicyPolicyTextBlock id="Tag745" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Comprehensive Income/ (Loss)</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Comprehensive income/ (loss) include all changes in equity during a period from non-owner sources, consisting of the Company's net loss and foreign currency translation adjustments.</p> </div>
</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsGoodwillPolicy id="Tag746" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Goodwill</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company records goodwill when the fair value of consideration transferred in a business combination exceeds the fair value of the identifiable assets acquired and liabilities assumed. Goodwill and other intangible assets that have indefinite useful lives are not amortized, but the Company tests them for impairment annually during its fourth quarter and whenever an event or change in circumstances indicates that the carrying value of the asset is impaired.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The authoritative guidance for the goodwill impairment model includes a <font>two</font>-step process. First, it requires a comparison of the carrying value of the reporting unit to its fair value. If the fair value is determined to be less than the carrying value, a second step is performed. In the second step, the Company compares the implied fair value of goodwill to its carrying value in the reporting unit. The shortfall of the fair value below carrying value, if any, would represent the amount of goodwill impairment charge. The Company is using the criteria in the Accounting Standards Update (“ASU”) 2011-08 Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment, which permits the Company to make a qualitative assessment of whether it is more likely than not than not that a reporting unit's fair value is less than the carrying amount before applying the <font>two</font>-step goodwill impairment test. If the Company concludes that it is not more likely than not that the fair value of a reporting unit is less that its carrying amount, it would not need to perform the <font>two</font>-step impairment test for that reporting unit.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company tests goodwill for impairment in the fourth quarter of each year, or sooner should there be an indicator of impairment as per <em>ASC 350, Intangibles – Goodwill and Other ("ASC 350").</em> The Company periodically analyzes whether any such indicators of impairment exist. Such indicators include a sustained, significant decline in the Company's stock price and market capitalization, a decline in the Company's expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, and/or slower growth rate, among others. In the Company's case, the indicator is the continuing losses.</p> </div>
</us-gaap:GoodwillAndIntangibleAssetsGoodwillPolicy>
<us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock id="Tag747" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Long-lived Assets and Intangible Assets</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In accordance with ASC 350, intangible assets are carried at cost less accumulated amortization and impairment charges. Intangible assets are amortized on a straight-line basis over the expected useful lives of the assets, between <font>three</font> and <font>ten</font> years. Other indefinite life intangible assets are reviewed for impairment in accordance with ASC 350, on an annual basis, or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company periodically analyzes whether any such indicators of impairment exist. Such indicators include a sustained, significant decline in the Company's stock price and market capitalization, a decline in the Company's expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, and/or slower growth rate, among others. In the Company's case, the indicator is the continuing losses.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Measurement of any impairment loss for long-lived assets and amortizing intangible assets that management expects to hold and use is tested for impairment when amounts may not be recoverable. Impairment is measured based on the amount of the carrying value that exceeds the fair value of the asset.</p> </div>
</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock id="Tag748" contextRef="D2014Q2YTD">
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Property and Equipment, Internal Use Software and Third Party Software</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Property and equipment are initially recorded at cost. Additions and improvements are capitalized, while expenditures that do not enhance the assets or extend the useful life are charged to operating expenses as incurred. Included in property and equipment are certain costs related to the development of the Company's internally developed software technology platform.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has adopted the provisions of ASC 350-40, Accounting for the Costs of Computer Software developed or obtained for internal use (former AICPA SOP 98-1, “ASC 350-40”), and therefore the costs incurred in the preliminary stages of development are expensed as incurred. The Company capitalizes all costs related to software developed or obtained for internal use when management commits to funding the project; the preliminary project stage is completed and when technological feasibility is established. Software developed for internal use has generally been used to deliver hosted services to the Company's customers. Technological feasibility is considered to have occurred upon completion of a detailed program design that has been confirmed by documenting the product specifications, or to the extent that a detailed program design is not pursued, upon completion of a working model that has been confirmed by testing to be consistent with the product design. Once a new functionality or improvement is released for operational use, the asset is moved from the property and equipment category “construction in progress” ("CIP") to a property and equipment asset subject to depreciation in accordance with the principle described in the previous sentence. In this account <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">management</font> also records equipment acquired from third parties, until it is ready for use. Capitalization of costs ceases when the project is substantially complete and ready for its intended use. Depreciation is applied using the straight-line method over the estimated useful lives of the assets once the assets are placed in service. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. There were <font>no</font> impairments to internal use software during the <font>three</font> and <font>nine</font> month periods ended September 30, 2014 and 2013.</p> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Recently Issued Accounting Pronouncements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #3C3C3D;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Standards </em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>That Are Not Yet Adopted</em></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #3C3C3D;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">In August 2014, the Financial Accounting Standards Board (“FASB”), issued ASU <font>No</font>. <font>2014</font>-<font>15</font>, Presentation of Financial Statements – Going Concern (Subtopic <font>205</font>-<font>40</font>): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. The amendments require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in US auditing standards. Specifically, the amendments (<font>1</font>) provide a definition of the term substantial doubt, (<font>2</font>) require an evaluation every reporting period including interim periods, (<font>3</font>) provide principles for considering the mitigating effect of management's plans, (<font>4</font>) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (<font>5</font>) require an express statement and other disclosures when substantial doubt is not alleviated, and (<font>6</font>) require an assessment for a period of <font>one</font> year after the date that the financial statements are issued (or available to be issued). For all entities, the new requirements are effective for annual periods ending after December 15, 2016. Early application is permitted. Management does not expect that the adoption of this standard will have a material effect on <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> financial statements.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #685040;"><br/> <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">In May 2014, as part of its ongoing efforts to assist in the convergence of US GAAP and International Financial Reporting Standards, the FASB issued a new standard related to revenue recognition. Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard will be effective for the Company beginning January 1, 2017 and early adoption is not permitted. Management is currently evaluating the methods of adoption allowed and the effect the standard is expected to have on the Company´s financial statements and related disclosures.</font></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In April 2014, the FASB issued ASU-<font>2014</font>-<font>08</font> “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which amends the definition of a discontinued operation in Accounting Standards Codification Topic <font>205</font>-<font>20</font> (Presentation of Financial Statements – Discontinued Operations) and requires entities to disclose additional information about disposal transactions that do not meet the discontinued operations criteria. The ASU redefines a discontinued operation as a component or group of components of an entity that (<font>1</font>) has been disposed of by sale or other than by sale or classified as held for sale and (<font>2</font>) represents a strategic shift that has (or will have) a major effect on an entity's operations and results includes the disposal of a major geographic area, a major line of business, a major equity investment, or other major parts of an entity. The ASU is effective prospectively for disposals of components classified as held for sale in periods on or after December 15, 2014. Management does not expect that the adoption of this standard will have a material effect on <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> financial statements.</p> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Note <font>4</font>. Significant Accounting Policies</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Foreign Currency Translation</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The functional currency is Euros for the Company's wholly-owned subsidiary Elephant Talk Europe Holding B.V. and its subsidiaries and the British Pound Sterling for its wholly-owned subsidiary ValidSoft. The financial statements of the Company were translated to US dollars (“USD”) using period-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses, and capital accounts were translated at their historical exchange rates when the capital transaction occurred. In accordance with Accounting Standards Codification (“ASC”) <font>830</font>, Foreign Currency Matters, net gains and losses resulting from translation of foreign currency financial statements are included in stockholders' equity as accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are included in consolidated loss; under the line item ‘Other income and (expense)' <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">for the loans, and in the line item “SG&A expenses” for accounts receivable.</font></font></p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Use of Estimates</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The accompanying consolidated financial statements were prepared in accordance with GAAP, which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Significant areas of estimates include revenue recognition, bad debt allowance, and valuation of financial instruments,<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font class="Apple-converted-space"> </font>realizability of long –lived assets, including goodwill,</font> useful lives and share-based compensation. Actual results may differ from these estimates under different assumptions or conditions.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Cash and Cash Equivalents</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For purposes of the cash flow statements, the Company would normally consider all highly liquid investments with original maturities of <font>three</font> months or less at the time of purchase to be cash equivalents. The Company has full access to the whole balance of cash and cash equivalents on a daily basis without any delay.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Restricted Cash</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Restricted cash as of September 30, 2014 and December 31, 2013, was $<font>169,536</font> and $<font>191,600</font> respectively, and consists of cash deposited in blocked accounts as bank guarantees for national interconnection and wholesale agreements with telecom operators.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Accounts Receivables, Net</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company's customer base is geographically dispersed. The Company maintains an allowance for potential credit losses on accounts receivable. The Company makes ongoing assumptions relating to the collectability of its accounts receivable. The accounts receivable amounts presented on its balance sheets include reserves for accounts that might not be collected. In determining the amount of these reserves, the Company considers its historical level of credit losses. The Company also makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations, and the Company assesses current economic trends that might impact the level of credit losses in the future. The Company's reserves have generally been adequate to cover its actual credit losses. However, since the Company cannot reliably predict future changes in the financial stability of its customers, it cannot guarantee that its reserves will continue to be adequate. If actual credit losses are significantly greater than the reserves, the Company has established that it would increase its general and administrative expenses and increase its reported net losses. Conversely, if actual credit losses are significantly less than its reserve, this would eventually decrease the Company's general and administrative expenses and decrease its reported net losses. Allowances are recorded primarily on a specific identification basis. See Note <font>5</font> of the Financial Statements of this Report for more information.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Leasing Arrangements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">At the inception of a lease covering equipment or real estate, the lease agreement is evaluated under the criteria of <em>ASC 840, Leases.</em> Leases meeting <font>one</font> of the <font>four</font> key criteria are accounted for as capital leases and all others are treated as operating leases. Under a capital lease, the discounted value of future lease payments becomes the basis for recognizing an asset and a borrowing, and lease payments are allocated between debt reduction and interest. For operating leases, payments are recorded as rent expense. Criteria for a capital lease include (i) transfer of ownership during the lease term; (ii) existence of a bargain purchase option under terms that make it likely to be exercised; (iii) a lease term equal to 75 percent or more of the economic life of the leased equipment; and (iv) minimum lease payments that equal or exceed 90 percent of the fair value of the property. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that type of asset. The assets are amortized in accordance with the Company's accounting policy for Property and Equipment.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Revenue Recognition and Deferred Revenue</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company derives revenue from outsourced services in telecommunications based activities by deploying its operational management services, network, switching technology and mobile enabling platform. Revenue represents amounts earned for these services provided to customers (net of value added tax).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company follows ASC 605, Revenue Recognition (“ASC 605”) and recognizes revenue when all of the following conditions have been met: (i) there is persuasive evidence of an arrangement; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collectability of the fee is reasonably assured. Revenues are recognized on a gross basis as the Company acts as principal in the transaction and has risk of loss for collection and delivery of service.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For the mobile solutions services, the Company recognizes revenues from <font>two</font> different service offerings, namely managed services and bundled services. For managed services, revenues are recognized for network administration services provided to end users on behalf of MNOs. Managed service revenues are recognized monthly based on an average number of end-users managed and calculated on a pre-determined service fee per user. For bundled services, the Company provides both network administration as well as mobile airtime management services. Revenues for bundled services are recognized monthly based on an average number of end-users managed and mobile air time and calculated based on a pre-determined service fee.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For the security solutions services, the Company recognizes revenues primarily from Subscriber Identity Module (“SIM”) lookup services using the VALid-SSD platform. Security solutions revenue is recognized based on the number of SIM lookups performed and calculated based on a pre-determined service fee per lookup. Other revenues recognized in the security solutions business include consulting services which are recognized as the services are performed.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">For landline solution services, the Company previously provided technical, operational and financial telecom infrastructure to telecommunication service providers. Revenues are recognized when delivery occurs based on a pre-determined rate, number of calls and number of user minutes that the Company has managed in a given month.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Management's judgment is applied regarding, among other aspects, conformance with acceptance criteria and if delivery of services has occurred, to determine if revenue and costs should be recognized in the current period. In addition, management evaluates the degree of completion of the services and the customer's credit standing to assess whether payment is likely or not to justify revenue recognition.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Cost of Service and Operating Expenses</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Cost of service includes origination, termination, network and billing charges from telecommunications operators, charges from telecommunication service providers, network costs, data center costs, facility costs of hosting network and equipment, and costs of providing resale arrangements with long distance service providers, costs of leasing transmission facilities and international gateway switches for voice and data transmission services. Cost of service excludes depreciation and amortization.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">SG&A expenses include all management and personnel related expenses, including share-based compensation, and other items such as: office rent, travel and car, corporate local and legal advice, audit, accountancy and tax, investor relations, marketing and communication costs and the costs incurred in the development of the Company's services which are expensed as incurred. Costs incurred during the application development stage of internal-use software projects, such as those used in the Company's network operations, are capitalized in accordance with the accounting guidance for costs of computer software developed for internal use.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Reporting Segments</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ASC 280, Segment Reporting (“ASC 280”), defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The business operates as <font>one</font> single segment and discrete financial information is based on the whole, not segregated; and is used by the chief decision maker accordingly.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Financial Instruments</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and customer deposits approximate their fair values based on their short-term nature. The recorded values of long-term debt approximate their fair values, as interest approximates market rates. The Company's warrant liability, a derivative instrument, is recognized in the balance sheet at its fair values with changes in fair market value reported in earnings.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Fair Value Measurements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In accordance with ASC 820 Fair Value Measurement (“ASC 820”), the Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. ASC <font>820</font> establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumptions about the inputs that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The fair value hierarchy is categorized into <font>three</font> levels based on the inputs as follows:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>1</font></em> – Quoted prices are available in active markets for identical assets or liabilities as of the reported date.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>2</font></em> – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these financial instruments include cash instruments for which quoted prices are available but are traded less frequently, derivative instruments whose fair values have been derived using a model where inputs to the model are directly observable in the market and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Level <font>3</font></em> – Instruments that have little to <font>no</font> pricing observability as of the reported date. These financial instruments are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The degree of judgment exercised by the Company in determining fair value is greatest for securities categorized in Level <font>3</font>. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company, has <font>three</font> asset groups that are valued at fair value categorized within Level <font>3</font>: Warrant liabilities (recurring measurement), goodwill and intangibles (non-recurring measurements) for the impairment test. Below <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">are discussions of</font> the main assumptions used for the recurring measurements.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>Recurring Measurement - Warrant Liabilities</em></strong><strong><em> (see also Note 16)</em></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Number of </em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>Outstanding</em></em> <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font class="Apple-converted-space"> </font>Warrants</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The number of outstanding warrants is adjusted every re-measurement date after deducting the exercise or exchange of any outstanding warrants during the previous reporting period.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Stock Price at Valuation Date</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The closing stock price at re-measurement date being the last available closing price of the reporting period taken from www.nasdaq.com.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Exercise Price</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">The exercise price is fixed and determined under the terms of the <font>8</font>% Senior Secured Convertible Note</font>.</p> <p><em><font style=" font-size: 10pt;">Remaining Term</font></em></p> <p><font style=" font-size: 10pt;">The remaining term is calculated by using the contractual expiration date of the 8% Senior Secured Convertible Note at the moment of re-measurement.</font></p> <p><em><font style=" font-size: 10pt;">Expected Volatility</font></em></p> <p><font style=" font-size: 10pt;">Management estimates expected cumulative volatility giving consideration to the expected life of the note and calculated the annual volatility by using the continuously compounded return calculated by using the share closing prices of an equal number of days prior to the maturity date of the note (reference period). The annual volatility is used to determine the (cumulative) volatility <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">of the Company´s</font> common stock (= annual volatility * square root (expected life)).</font></p> <p><em><font style=" font-size: 10pt;">Risk-Free Interest Rate</font></em></p> <p><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">Management estimates</font><font style=" font-size: 10pt;"> the risk-free interest rate using the “Daily Treasury Yield Curve Rates” from the US Treasury Department with a term equal to the reported rate, or derived by using both spread in intermediate term and rates, up to the maturity date of the 8% Senior Secured Convertible Note.</font></p> <p><em><font style=" font-size: 10pt;">Expected Dividend Yield</font></em></p> <p><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">Management estimates</font><font style=" font-size: 10pt;"> the expected dividend yield by giving consideration to<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"> the Company´s</font> current dividend policies as well as those anticipated in the future considering <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);">the Company´s</font> current plans and projections</font>.</p> <p><em><font style=" font-size: 10pt;">Exchange </font></em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em><font style=" font-size: 10pt;">Condition</font></em></em></p> <p><font style=" font-size: 10pt;">The warrant holder has the option to do a cashless exchange of warrants at certain exchange conditions described in the warrants. The valuation for the exchange is based on a Black-Scholes calculation with pre-determined variables such as </font><em><font style=" font-size: 10pt;">volatility</font></em><font style=" font-size: 10pt;"> (<font>135</font>%), </font><em><font style=" font-size: 10pt;">remaining term</font></em><font style=" font-size: 10pt;"> (<font>5</font> years), </font><em><font style=" font-size: 10pt;">risk-free rate </font></em><font style=" font-size: 10pt;">(variable), </font><em><font style=" font-size: 10pt;">dividend yield</font></em><font style=" font-size: 10pt;"> (<font>0</font>%), </font><em><font style=" font-size: 10pt;">exercise price</font></em><font style=" font-size: 10pt;"> ($<font>0.887</font>) and </font><em><font style=" font-size: 10pt;">market price</font></em><font style=" font-size: 10pt;"> (closing bid price <font>one</font> day prior to the exchange date).</font></p> <p><em><font style=" font-size: 10pt;">Mandatory </font></em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em><font style=" font-size: 10pt;">Exercise Condition</font></em></em></p> <p><font style=" font-size: 10pt;">Management's estimate for the likelihood of being able to force a mandatory exercise of the warrants prior to the maturity of the warrant agreement.</font></p> </div> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Share-Based Compensation</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company follows the provisions of ASC <font>718</font>, Compensation-Stock Compensation, (“ASC <font>718</font>”). Under ASC <font>718</font>, share-based awards are recorded at fair value as of the grant date and recognized as expense with an adjustment for forfeiture over the employee's requisite service period (the vesting period, generally up to <font>three</font> years). The share-based compensation cost based on the grant date fair value is amortized over the period in which the related services are received.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">To determine the value of <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> stock options at grant date under our employee stock option plan, the Company uses the Black-Scholes option-pricing model. The use of this model requires the Company to make a number of subjective assumptions. The following addresses each of these assumptions and describes <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> methodology for determining each assumption:</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Life</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The expected life represents the period that the stock option awards are expected to be outstanding. The Company uses the simplified method for estimating the expected life of the option, by taking the average between time to vesting and the contract life of the award.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Volatility</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates expected cumulative volatility giving consideration to the expected life of the option of the respective award, and the calculated annual volatility by using the continuously compounded return calculated by using the share closing prices of an equal number of days prior to the grant-date (reference period). The annual volatility is used to determine the (cumulative) volatility of its Common Stock (= annual volatility x square root (expected life)).</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Forfeiture Rate</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company is using the aggregate forfeiture rate. The aggregate forfeiture rate is the ratio of pre-vesting forfeitures over the awards granted (pre-vesting forfeitures/grants). The forfeiture discount (additional loss) is released into the profit and loss in the same period as the option vesting-date. The forfeiture rate is actualized every reporting period.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Risk-Free Interest Rate</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates the risk-free interest rate using the “Daily Treasury Yield Curve Rates” from the U.S. Treasury Department with a term equal to the reported rate or derived by using both spread in intermediate term and rates, to the expected life of the award.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Expected Dividend Yield</em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company estimates the expected dividend yield by giving consideration to its current dividend policies as well as those anticipated in the future considering its current plans and projections. The Company does not currently calculate a discount for any post-vesting restrictions to which its awards may be subject.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Income Taxes</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Current tax is based on the income or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. Establishment of a valuation allowance is provided when it is more likely than deferred taxes will not be realized.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In the ordinary course of a global business, there are many transactions and calculations where the ultimate tax outcome is uncertain. Some of these uncertainties arise as a consequence of revenue sharing and reimbursement arrangements among related entities, the process of identifying items of revenue and expenses that qualify for preferential tax treatment and segregation of foreign and domestic income and expense to avoid double taxation.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company files federal income tax returns in the US, various US state jurisdictions and various foreign jurisdictions. The Company's income tax returns are open to examination by federal, state and foreign tax authorities, generally for the years ended December 31, 2008 and later, with certain state jurisdictions open for audit for earlier years. The Company's policy is to record estimated interest and penalties on unrecognized tax benefits as part of its income tax provision.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><strong>  </strong></p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Comprehensive Income/ (Loss)</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Comprehensive income/ (loss) include all changes in equity during a period from non-owner sources, consisting of the Company's net loss and foreign currency translation adjustments.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Goodwill</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company records goodwill when the fair value of consideration transferred in a business combination exceeds the fair value of the identifiable assets acquired and liabilities assumed. Goodwill and other intangible assets that have indefinite useful lives are not amortized, but the Company tests them for impairment annually during its fourth quarter and whenever an event or change in circumstances indicates that the carrying value of the asset is impaired.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The authoritative guidance for the goodwill impairment model includes a <font>two</font>-step process. First, it requires a comparison of the carrying value of the reporting unit to its fair value. If the fair value is determined to be less than the carrying value, a second step is performed. In the second step, the Company compares the implied fair value of goodwill to its carrying value in the reporting unit. The shortfall of the fair value below carrying value, if any, would represent the amount of goodwill impairment charge. The Company is using the criteria in the Accounting Standards Update (“ASU”) 2011-08 Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment, which permits the Company to make a qualitative assessment of whether it is more likely than not than not that a reporting unit's fair value is less than the carrying amount before applying the <font>two</font>-step goodwill impairment test. If the Company concludes that it is not more likely than not that the fair value of a reporting unit is less that its carrying amount, it would not need to perform the <font>two</font>-step impairment test for that reporting unit.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company tests goodwill for impairment in the fourth quarter of each year, or sooner should there be an indicator of impairment as per <em>ASC 350, Intangibles – Goodwill and Other ("ASC 350").</em> The Company periodically analyzes whether any such indicators of impairment exist. Such indicators include a sustained, significant decline in the Company's stock price and market capitalization, a decline in the Company's expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, and/or slower growth rate, among others. In the Company's case, the indicator is the continuing losses.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;">  </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Long-lived Assets and Intangible Assets</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In accordance with ASC 350, intangible assets are carried at cost less accumulated amortization and impairment charges. Intangible assets are amortized on a straight-line basis over the expected useful lives of the assets, between <font>three</font> and <font>ten</font> years. Other indefinite life intangible assets are reviewed for impairment in accordance with ASC 350, on an annual basis, or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company periodically analyzes whether any such indicators of impairment exist. Such indicators include a sustained, significant decline in the Company's stock price and market capitalization, a decline in the Company's expected future cash flows, a significant adverse change in legal factors or in the business climate, unanticipated competition, and/or slower growth rate, among others. In the Company's case, the indicator is the continuing losses.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Measurement of any impairment loss for long-lived assets and amortizing intangible assets that management expects to hold and use is tested for impairment when amounts may not be recoverable. Impairment is measured based on the amount of the carrying value that exceeds the fair value of the asset.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Property and Equipment, Internal Use Software and Third Party Software</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Property and equipment are initially recorded at cost. Additions and improvements are capitalized, while expenditures that do not enhance the assets or extend the useful life are charged to operating expenses as incurred. Included in property and equipment are certain costs related to the development of the Company's internally developed software technology platform.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has adopted the provisions of ASC 350-40, Accounting for the Costs of Computer Software developed or obtained for internal use (former AICPA SOP 98-1, “ASC 350-40”), and therefore the costs incurred in the preliminary stages of development are expensed as incurred. The Company capitalizes all costs related to software developed or obtained for internal use when management commits to funding the project; the preliminary project stage is completed and when technological feasibility is established. Software developed for internal use has generally been used to deliver hosted services to the Company's customers. Technological feasibility is considered to have occurred upon completion of a detailed program design that has been confirmed by documenting the product specifications, or to the extent that a detailed program design is not pursued, upon completion of a working model that has been confirmed by testing to be consistent with the product design. Once a new functionality or improvement is released for operational use, the asset is moved from the property and equipment category “construction in progress” ("CIP") to a property and equipment asset subject to depreciation in accordance with the principle described in the previous sentence. In this account <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">management</font> also records equipment acquired from third parties, until it is ready for use. Capitalization of costs ceases when the project is substantially complete and ready for its intended use. Depreciation is applied using the straight-line method over the estimated useful lives of the assets once the assets are placed in service. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. There were <font>no</font> impairments to internal use software during the <font>three</font> and <font>nine</font> month periods ended September 30, 2014 and 2013.</p> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong><font style=" text-decoration: underline; font-size: 10pt;">Recently Issued Accounting Pronouncements</font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #3C3C3D;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><em>Standards </em><em style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><em>That Are Not Yet Adopted</em></em></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #3C3C3D;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">In August 2014, the Financial Accounting Standards Board (“FASB”), issued ASU <font>No</font>. <font>2014</font>-<font>15</font>, Presentation of Financial Statements – Going Concern (Subtopic <font>205</font>-<font>40</font>): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. The amendments require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in US auditing standards. Specifically, the amendments (<font>1</font>) provide a definition of the term substantial doubt, (<font>2</font>) require an evaluation every reporting period including interim periods, (<font>3</font>) provide principles for considering the mitigating effect of management's plans, (<font>4</font>) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (<font>5</font>) require an express statement and other disclosures when substantial doubt is not alleviated, and (<font>6</font>) require an assessment for a period of <font>one</font> year after the date that the financial statements are issued (or available to be issued). For all entities, the new requirements are effective for annual periods ending after December 15, 2016. Early application is permitted. Management does not expect that the adoption of this standard will have a material effect on <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> financial statements.</p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #685040;"><br/> <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: rgb(255, 255, 255);"><font style=" font-size: 10pt;">In May 2014, as part of its ongoing efforts to assist in the convergence of US GAAP and International Financial Reporting Standards, the FASB issued a new standard related to revenue recognition. Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard will be effective for the Company beginning January 1, 2017 and early adoption is not permitted. Management is currently evaluating the methods of adoption allowed and the effect the standard is expected to have on the Company´s financial statements and related disclosures.</font></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In April 2014, the FASB issued ASU-<font>2014</font>-<font>08</font> “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which amends the definition of a discontinued operation in Accounting Standards Codification Topic <font>205</font>-<font>20</font> (Presentation of Financial Statements – Discontinued Operations) and requires entities to disclose additional information about disposal transactions that do not meet the discontinued operations criteria. The ASU redefines a discontinued operation as a component or group of components of an entity that (<font>1</font>) has been disposed of by sale or other than by sale or classified as held for sale and (<font>2</font>) represents a strategic shift that has (or will have) a major effect on an entity's operations and results includes the disposal of a major geographic area, a major line of business, a major equity investment, or other major parts of an entity. The ASU is effective prospectively for disposals of components classified as held for sale in periods on or after December 15, 2014. Management does not expect that the adoption of this standard will have a material effect on <font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the Company´s</font> financial statements.</p> </div> </div> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font style=" text-decoration: underline;"><font style=" font-size: 10pt;">Note 2. Financial Condition</font></font></strong></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style=" font-size: 10pt;">As reflected in the accompanying consolidated financial statements, the Company incurred net losses of $</font><font><font style=" font-size: 10pt;">2,392,938</font></font><font style=" font-size: 10pt;"> and $</font><font><font style=" font-size: 10pt;">11,129,930</font></font><font style=" font-size: 10pt;"> for the three and nine month period ended </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;">, and had an accumulated deficit of $</font><font><font style=" font-size: 10pt;">236,521,852</font></font><font style=" font-size: 10pt;"> as of </font><font style=" font-size: 10pt;">September 30, 2014</font><font style=" font-size: 10pt;">.</font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style=" font-size: 10pt;">On November 17, 2014 (the “Closing Date”), the Company and certain of its subsidiaries entered into a term loan credit agreement with Atalaya Administrative LLC, as the administrative agent and collateral agent, and the lenders party thereto (the “Credit Agreement”). The Credit Agreement provides for a </font><font><font style=" font-size: 10pt;">twelve</font></font><font style=" font-size: 10pt;"> million dollar term loan facility (the “Term Loan Facility”) with advances to be made on the Closing Date. Borrowings under the Term Loan Facility shall bear interest at the LIBOR rate plus an applicable margin per annum equal to </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">ten</font></font><font style=" font-size: 10pt;"> percent (</font><font><font style=" font-size: 10pt;">10.00</font></font><font style=" font-size: 10pt;">%)<font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">, such margin currently increased by an additional two percent (<font>2.00</font>%) pending the satisfaction of certain post-closing conditions.</font> The Term Loan Facility will mature on December 31, 2017. See also Note 27 Subsequent events. A portion of the proceeds of the Credit Agreement will be used to repay </font><font><font style=" font-size: 10pt;">50</font></font><font style=" font-size: 10pt;">% of the 2013 </font><font><font style=" font-size: 10pt;">10</font></font><font style=" font-size: 10pt;">% 3rd Party Convertible Note </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">as defined in Note 15 </font></font><font style=" font-size: 10pt;">principal amount as well as all accrued interest, totaling approximately $</font><font><font style=" font-size: 10pt;">3,123,011</font></font><font style=" font-size: 10pt;"> (€</font><font><font style=" font-size: 10pt;">2,498,849</font></font><font style=" font-size: 10pt;">) until Closing Date. </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">The remaining 50% of the principal amount of the 2013 10% 3rd Party Convertible Note will be converted into </font><font><font style=" font-size: 10pt;">2,817,993</font></font><font style=" font-size: 10pt;"> shares of the Company's common stock at the Closing Date, totaling approximately</font></font><font style=" font-size: 10pt;"> $</font><font><font style=" font-size: 10pt;">2,500,000</font></font><font style=" font-size: 10pt;"> (€</font><font><font style=" font-size: 10pt;">2,000,000</font></font><font style=" font-size: 10pt;">). The Company also issued a </font><font><font style=" font-size: 10pt;">three</font></font><font style=" font-size: 10pt;"> year warrant to purchase </font><font><font style=" font-size: 10pt;">1,000,000</font></font><font style=" font-size: 10pt;"> </font><font style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><font style=" font-size: 10pt;">shares of the Company's common stock, at an exercise price of $<font>0.93</font> per share to the holder of the 2013 <font>10</font>% 3rd Party Convertible Note.</font></font></p> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0pt 0px;"><font style=" font-size: 10pt;">Due to the above, combined with the earlier conversion of the 2013 10% Related Party Convertible Note (defined below) amounting to $</font><font><font style=" font-size: 10pt;">2,966,951</font></font><font style=" font-size: 10pt;"> of principal and interest into equity in July, 2014 (refer to Note 14), cash and cash equivalents at September 30, 2014 of $</font><font><font style=" font-size: 10pt;">1,176,650</font></font><font style=" font-size: 10pt;">, and the improvement of net cash provided by operating activities, the Company believes that it can carry out its business plans.</font></p> </div> </div>
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