Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,821,729 $ 6,068,973
Accounts receivable, net 1,799,013 2,170,529
Incremental direct costs 241,235 423,023
Prepaid expenses and other current assets 490,581 957,140
Total current assets 5,352,558 9,619,665
Property and equipment, net 291,774 277,534
Capitalized technology, net 141,573 173,368
Goodwill 10,280,885 20,201,190
Intangible assets, net 7,035,139 9,183,439
Merchant reserve 780,849 1,426,927
Security deposits 239,059 220,754
Other assets 35,000
Total assets 24,121,837 41,137,877
Current Liabilities:    
Accounts payable 1,232,510 2,172,332
Accrued expenses 1,172,435 962,172
Deferred revenue 4,422,715 5,485,599
Total current liabilities 6,827,660 8,620,103
Deferred tax liability 2,492,837 3,653,274
Deferred rent 60,959 55,718
Other liabilities 78,481 33,159
Total liabilities 9,459,937 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 September 30, 2017 and December 31, 2016, respectively; and 3,931,838 shares and 3,619,338 shares outstanding as of September 30, 2017 and December 31, 2016, respectively 39,329 36,204
Additional paid in capital 79,783,969 76,234,772
Accumulated other comprehensive loss (1,435)
Accumulated deficit (65,122,846) (47,458,236)
Treasury stock, at cost; 1,048 shares at September 30, 2017 and December 31, 2016 (37,117) (37,117)
Total stockholders' equity 14,661,900 28,775,623
Total liabilities and stockholders' equity $ 24,121,837 $ 41,137,877

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