Ricebran Technologies And Zurvita Renew Long

The share conversion liability is topic to recurring fair worth adjustments each reporting period (see Note 12 – Assets and Liabilities Measured at Fair Worth). The discount is amortized more than the life of the note payable employing the successful interest method and recorded as interest expense in the statement of operations. During the years ended July 31, 2012 and 2011, total interest expense connected to the convertible note payable was about $263 and $323 thousand, respectively. Of the interest expense recognized for the years ended July 31, 2012 and 2011, about $103 thousand and $130 thousand, respectively, was elected by the Corporation to be deferred and added to the principal of the note. Management has evaluated subsequent events through the date the monetary statements have been issued.

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Due to the fact the Company’s inception, the Business has mainly met its operating money needs through equity contributions from The Amacore Group, Inc. , who was the Company’s sole shareholder prior to July 30, 2009. Subsequent to July 30, 2009, the Company has sold a number of series of preferred stock for gross proceeds of $6.8 million to a different related party. We are utilizing the proceeds from the sale of preferred stock to subsidize the Company’s operations as the Company’s revenues and operating money flows are not currently enough to support the Company’s existing operations. The accompanying notes are an integral element of these consolidated financial statements. The accompanying economic statements have been prepared assuming that the Firm will continue as a going concern.

Zurvita Weblog

Codification, zurvita – Youtube blog entry – which changed the referencing and organization of accounting guidance without the need of modification of existing U.S. GAAP, is effective for interim and annual periods ending immediately after September 15, 2009. GAAP, Codification did not have any effect on the Company’s economic situation or benefits of operations. These issues raise substantial doubt about our capability to continue as a going concern for a reasonable period.

Life Extension Migra

The Enterprise markets subscriptions to a service that facilitates the ability of shoppers, typically small company owners, to show commercial advertising by means of an on-line search directory. Income is recognized ratably more than the advertising subscription period. In June 2009, the Economic Accounting Standards Board («FASB») approved FASB Accounting Requirements Codification («Codification») as the single source of authoritative accounting guidance made use of in the preparation of economic statements in conformity with U.S.
Management is attempting to boost the operations of the Corporation to attain and retain money-constructive operations. The monetary statements do not contain any adjustments that may possibly be needed if the Enterprise is unable to continue as a going concern. Added cash resources may be essential should really the Company not meet its sales targets, exceed its projected operating expenses, want to accelerate sales or full one or additional acquisitions or if unanticipated costs arise or are incurred.
The weighted average period more than which non-vested awards are expected to be recognized is 1 year. The total fair value of warrants vested through the year ended July 31, 2012 was about $177 thousand. The weighted typical grant date fair worth of warrants granted through the year ended July 31, 2012 and 2011 was $ and $, respectively. For the years ended July 31, 2012 and 2011, around $55 thousand and $405 thousand, respectively, of stock-based compensation expense was recognized, as a result of various share issuances.

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The Firm has categorized its assets and liabilities measured at fair worth into the three-level fair worth hierarchy, as defined in Note 2, primarily based upon the priority of inputs to respective valuation methods. Assets integrated in the level 1 of the fair value hierarchy consist of marketable securities which are fair valued on a recurring basis employing quoted industry prices. Liabilities incorporated inside level three of the fair value hierarchy presented in the preceding table involve a share conversion feature and noncompensatory warrants. The valuation methodology for liabilities within level 3 makes use of a mixture of observable and unobservable inputs in calculating fair worth.