Everything was working fine until I imported Esclipse Lollipop examples and the following errors showed up
The project you imported from eclipse is probably using an older version of the android SDK. Check the API version in the project. Typically, clicking the "Install missing platform(s) and sync project" works but seems like Android Studio isn't able to connect to the internet.
There are some security restrictions that Mac OS X places on any application trying to connect to the internet, especially when you've edited the Info.plist file, which is not recommended. Did you get a dialog asking your to allow java to make network connections? Perhaps you clicked No?