Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:    
Net loss $ (3,658,076)us-gaap_NetIncomeLoss $ (1,436,387)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,084,450us-gaap_DepreciationAmortizationAndAccretionNet 281,648us-gaap_DepreciationAmortizationAndAccretionNet
Deferred tax benefit (3,062,108)us-gaap_DeferredIncomeTaxExpenseBenefit (380,832)us-gaap_DeferredIncomeTaxExpenseBenefit
Gain on bargain purchase of business (429,956)us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount   
Stock-based compensation expense 565,188us-gaap_ShareBasedCompensation   
Fair value of warrants issued to advisor in connection with acquisition 138,768us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims   
Amortization of prepaid license fees 112,500ipdn_AmortizationOfPrepaidLicenseFees   
Amortization of premium on short-term investments, net 86,655us-gaap_InvestmentIncomeAmortizationOfPremium   
Amortization of customer deposits (112,500)ipdn_AmortizationOfCustomerDeposits   
Change in fair value of warrant liability 8,568us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet (330,147)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
Loss on sale of marketable securities, net    7,640us-gaap_GainLossOnSaleOfInvestments
Gain on sale of property and equipment    (4,158)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Interest added to notes payable    16,881us-gaap_IncreaseDecreaseInInterestPayableNet
Accretion of interest on notes payable 2,604us-gaap_AccretionExpense 138,255us-gaap_AccretionExpense
Changes in operating assets and liabilities:    
Accounts receivable 371,277us-gaap_IncreaseDecreaseInAccountsReceivable 756,122us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other current assets 38,969us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (28,445)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Incremental direct costs 30,258ipdn_IncreaseDecreaseDeferredSalesCommission   
Prepaid license fee (450,000)ipdn_IncreaseDecreasePrepaidLicenseFee   
Accounts payable (2,547,059)us-gaap_IncreaseDecreaseInAccountsPayable (46,294)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses (1,629,998)us-gaap_IncreaseDecreaseInAccruedLiabilities 85,812us-gaap_IncreaseDecreaseInAccruedLiabilities
Deferred income 174,518us-gaap_IncreaseDecreaseInDeferredRevenue 524,420us-gaap_IncreaseDecreaseInDeferredRevenue
Deferred rent 25,946ipdn_IncreaseDecreaseDeferredRent   
Customer deposits 450,000us-gaap_IncreaseDecreaseInCustomerDeposits   
Other assets 10,000us-gaap_IncreaseDecreaseInOtherOperatingAssets   
Net cash used in operating activities (8,789,996)us-gaap_NetCashProvidedByUsedInOperatingActivities (415,485)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Proceeds from maturities of short-term investments 10,240,000us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 242,206us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Purchases of short-term investments (15,525,533)us-gaap_PaymentsToAcquireMarketableSecurities   
Cash paid for acquisition, net of cash acquired (3,110,646)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (135,945)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Costs incurred to develop technology (180,314)us-gaap_PaymentsToDevelopSoftware (354,808)us-gaap_PaymentsToDevelopSoftware
Purchases of property and equipment (37,850)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (38,424)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid to purchase technology    (200,000)us-gaap_PaymentsToAcquireSoftware
Proceeds from sale of property and equipment    6,203us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Security deposits    11,067us-gaap_IncreaseDecreaseInSecurityDeposits
Net cash used in investing activities (8,614,343)us-gaap_NetCashProvidedByUsedInInvestingActivities (469,701)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Repurchase of common stock (25,862)us-gaap_PaymentsForRepurchaseOfCommonStock (11,255)us-gaap_PaymentsForRepurchaseOfCommonStock
Payments of capital leases (7,165)us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations   
Merchant reserve 667,709ipdn_ProceedsFromMerchantReserve   
Merchant cash advances (447,371)ipdn_PaymentsToMerchantCashReserve   
Distributions to members    (200,000)us-gaap_DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid
Proceeds from IPO, net of offering costs    19,474,565us-gaap_ProceedsFromIssuanceInitialPublicOffering
Deferred IPO costs    (509,923)us-gaap_PaymentsOfStockIssuanceCosts
Net cash provided by financing activities 187,311us-gaap_NetCashProvidedByUsedInFinancingActivities 18,753,387us-gaap_NetCashProvidedByUsedInFinancingActivities
Net (decrease) increase in cash and cash equivalents (17,217,028)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 17,868,201us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 18,736,495us-gaap_CashAndCashEquivalentsAtCarryingValue 868,294us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 1,519,467us-gaap_CashAndCashEquivalentsAtCarryingValue 18,736,495us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of other cash flow information:    
Cash paid for income taxes      
Cash paid for interest      
Non-cash disclosures:    
Common stock issued in connection with acquisition of NAPW 35,272,033us-gaap_StockIssued1   
Fair value of options issued in connection with acquisition of NAPW 556,496ipdn_OptionsIssued   
Fair value of warrants issued in connection with acquisition of NAPW 294,342ipdn_WarrantsIssued   
Promissory note issued in connection with acquisition of Global Outreach 1,389,386ipdn_NotesIssued2   
Conversion of notes payable to equity    1,643,036us-gaap_DebtConversionConvertedInstrumentAmount1
Reduction of additional paid-in capital for deferred IPO costs    1,342,163us-gaap_AdjustmentsToAdditionalPaidInCapitalOther
Fair value of warrant liabilities    $ 415,368us-gaap_DerivativeGainLossOnDerivativeNet