I have not actually checked itEdit: Using the suggestion of Tyler and the correction by Question Mark, but this should be rather doable in a number of waysread like this:
Say, we already know this result for $R=\mathbb{Z}$. We onlyIn general, we have to check it for $R = \mathbb{Z}$ andshow that the $R= \mathbb{F}_p$ as everything else is flat over these(ring) homomorphism $$\Gamma(\mathcal{M}, \mathcal{O}) \otimes_{\mathbb{Z}}R \to \Gamma(\mathcal{M}_{1,R},\mathcal{O}) \cong \Gamma(\mathcal{M},\mathcal{O}\otimes_{\mathbb{Z}} R)$$ is an isomorphism. We get itcan actually show this for freeevery abelian group $R$. It is clear if $p \geq 5$ because then$R$ is a free abelian group. As $$\Gamma(\mathcal{M}_{1,\mathbb{F}_p},\mathcal{O}) \cong \Gamma(\mathcal{M}_{1,\mathbb{Z}},\mathcal{O})/p$$ as$H^1(\mathcal{M},\mathcal{O}) = 0$ and $H^1$ vanishes. Say you want to find out the case$\mathcal{O}$ is flat over $\mathbb{F}_3$$\mathbb{Z}$, then you just have to compute the fixed points $R[x_2,y_2, \Delta^{-1}]^{GL_2(\mathbb{Z}/2)}_0$, wheresequence $0$ stands$0 \to \mathbb{Z}^? \to \mathbb{Z}^? \to R\to 0$ induces short exact sequences of source and target. This implies the result for degreeevery $0$$R$.
The result $H^1(\mathcal{M},\mathcal{O}) = 0$ is only formal after inverting $2$ and $3$ -- the group action is completely explicit. Or youintegrally it can also use directly the Weierstrass equationsessentially be found in Sections 5 and 7 of http://arxiv.org/pdf/math/0311328.pdf (only that all transformations between them are knownBauer uses the language of Hopf algebroids; a translation into stack language can, for example, be found in Section 4.1 of http://arxiv.org/pdf/1307.8310.pdf). The global sections result over $\mathbb{Z}$ can also be deduced from Bauer's paper if you want as he computes the whole cohomology of the moduli stack.
I feel that I have omitted the most difficult part, but I hope it is of some help anyhow.I have not actually checked it, but this should be rather doable in a number of ways. We only have to check it for $R = \mathbb{Z}$ and $R= \mathbb{F}_p$ as everything else is flat over these. We get it actually for free if $p \geq 5$ because then $$\Gamma(\mathcal{M}_{1,\mathbb{F}_p},\mathcal{O}) \cong \Gamma(\mathcal{M}_{1,\mathbb{Z}},\mathcal{O})/p$$
as $H^1$ vanishes. Say you want to find out the case $\mathbb{F}_3$, then you just have to compute the fixed points $R[x_2,y_2, \Delta^{-1}]^{GL_2(\mathbb{Z}/2)}_0$, where $0$ stands for degree $0$ -- the group action is completely explicit. Or you can also use directly the Weierstrass equations and that all transformations between them are known...