Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Significant Accounting Policies (Tables)

v3.10.0.1
Basis of Presentation and Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Schedule of Trade Receivables

As of March 31, 2018 and December 31, 2017, the aging of trade receivables was as follows:

 

    March 31,     December 31,  
Aging Period   2018     %     2017     %  
                (restated)        
Current   $ 237,066       24 %   $ 1,181,335       76 %
01-30 Days     4,657       0 %     79,535       5 %
31-60 Days     1,428       0 %     20,154       1 %
61-90 Days     117       0 %     25,100       2 %
>90 Days     769,826       76 %     254,743       16 %
Subtotal   $ 1,013,094             $ 1,560,867          
Bad Debts Allowance     (596,196 )             (596,196 )        
Total   $ 416,898             $ 964,671          

Schedule of Estimated Useful Life of Property Plant and Equipment

The estimated useful lives for the current and comparative periods are as follows:

 

    Useful Life
    (in years)
Plant and equipment   5-12
Furniture and fixtures   5-10
Computer equipment & software   3-5
Leasehold Improvements   Shorter of the remaining lease or estimated useful life

Schedule of Estimated Useful Lives for Current and Comparative Period

The estimated useful lives for the current and comparative periods are as follows:

 

    Useful Life
    (in years)
Patents and trademarks   12-17
Customer lists   5