Annual report pursuant to section 13 and 15(d)

CORRECTION OF ERRORS AND RESTATEMENTS

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CORRECTION OF ERRORS AND RESTATEMENTS
 12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
CORRECTION OF ERRORS AND RESTATEMENTS

 

We have restated our ending balances for 2011, as well as the balance sheet, statement of stockholders’ equity, and statement of cash flows for 2011 to correct an error in our accounting. The error relates to an adjustment for foreign currency translation of the notes payable balance to Prime Table Games UK, which is recorded in the functional currency pound sterling. The adjustment records an unrealized translation adjustment to the accumulated other comprehensive income (loss) account. There was no effect on the statement of operations.

 

The following are the previous and corrected balances for the year ended December 31, 2011:

 

December 31, 2011
Financial Statements		   Line Item   Corrected   Previously Stated
Balance Sheet   Notes payable, current portion     2,091,827       1,835,240  
Balance Sheet   Notes payable, net of debt discount, net of current portion     19,713,819       20,035,366  
Balance Sheet   Total liabilities     22,775,599       22,840,599  
Balance Sheet   Accumulated other comprehensive income     64,960       —  
Balance Sheet   Total shareholders’ equity     339,812       274,852  
                     
Statement of Stockholders’ Equity   Accumulated other comprehensive (loss) income     64,960       —  
Statement of Stockholders’ Equity   Total shareholders’ equity     339,812       274,852  
                     
Statement of Cash Flows   Non-cash investing and financing activities:                
    Effect of exchange rate on note payable in foreign currency     64,960       —