Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 4,951,849 $ 6,068,973
Accounts receivable, net 2,130,885 2,170,529
Incremental direct costs 332,780 423,023
Prepaid expenses and other current assets 712,427 957,140
Total current assets 8,127,941 9,619,665
Property and equipment, net 242,270 277,534
Capitalized technology, net 130,753 173,368
Goodwill 10,280,885 20,201,190
Intangible assets, net 7,749,239 9,183,439
Merchant reserve 780,849 1,426,927
Security deposits 213,931 220,754
Other assets 35,000
Total assets 27,525,868 41,137,877
Current Liabilities:    
Accounts payable 1,520,274 2,172,332
Accrued expenses 1,245,827 962,172
Deferred revenue 4,849,619 5,485,599
Customer deposits 185,179
Total current liabilities 7,800,899 8,620,103
Deferred tax liability 2,662,927 3,653,274
Deferred rent 50,318 55,718
Other liabilities 4,743 33,159
Total liabilities 10,518,887 12,362,254
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized; 3,936,399 shares and 3,623,899 shares issued as of June 30, 2017 and December 31, 2016, respectively; and 3,931,838 shares and 3,619,338 shares outstanding as of June 30, 2017 and December 31, 2016, respectively 39,329 36,204
Additional paid in capital 79,637,909 76,234,772
Accumulated other comprehensive loss 1,621
Accumulated deficit (62,634,761) (47,458,236)
Treasury stock, at cost; 1,048 shares at June 30, 2017 and December 31, 2016 (37,117) (37,117)
Total stockholders' equity 17,006,981 28,775,623
Total liabilities and stockholders' equity $ 27,525,868 $ 41,137,877

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