23. Restatement
During 2013, the Company discovered that common stock that was thought to have been issued as payment for an outstanding invoice from 2011 was never issued. Due to late payment of this invoice, the Company also incurred interest that was not recorded. Accordingly, the Company restated its previously issued 2012 financial statements as follows:
| As Previously Stated | Adjustments | As Restated | |
| Interest expense | $ 270,852 | $ 12,804 | $ 283,656 |
| Total other income (expense) | (306,335) | 12,804 | (319,139) |
| (Loss) before income taxes | (4,087,714) | 12,804 | (4,100,518) |
| Net (loss) | (4,087,714) | 12,804 | (4,100,518) |
| Accounts payable | 1,535,245 | 120,024 | 1,655,269 |
| Common Stock - October 1, 2011 | 1,146 | (21) | 1,125 |
| Additional paid-in capital - October 1, 2011 | 5,807,200 | (107,199) | 5,700,001 |
| Total stockholders' (deficit) - October 1, 2011 | (1,778,754) | (107,220) | (1,885,974) |
| Common Stock - September 30, 2012 | 3,018 | (21) | 2,997 |
| Additional paid-in capital - September 30, 2012 | 9,357,853 | (107,199) | 9,250,654 |
| Accumulated (deficit) - September 30, 2012 | (11,674,814) | (12,804) | (11,687,618) |
| Total stockholders' (deficit) - September 30, 2012 | (2,285,000) | (120,024) | (2,405,024) |
In addition, the number of issued and outstanding shares of common stock has been restated as follows:
| As Previously Stated | Adjustments | As Restated | |
| Common Stock - Shares - October 1, 2011 | 11,465,750 | (214,441) | 11,251,309 |
| Common Stock - Shares - September 30, 2012 | 30,180,979 | (214,441) | 29,966,538 |
The restatement did not materially affect earnings per share.