Balance Sheet

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents (Amount related to variable interest entity of $1,407,188 and $1,671,378 as of March 31, 2018 and December 31, 2017, respectively) $ 2,738,185 $ 3,013,927
Accounts receivable, net 1,388,169 1,997,983
Incremental direct costs 67,799 145,292
Prepaid expenses and other current assets 568,566 478,379
Total current assets 4,762,719 5,635,581
Property and equipment, net 139,960 237,037
Capitalized technology, net 167,126 158,142
Goodwill 5,590,150 5,590,150
Intangible assets, net 5,745,606 6,381,206
Merchant reserve 760,849 760,849
Security deposits 227,451 225,957
Total assets 17,393,861 18,988,922
Current Liabilities:    
Accounts payable 1,492,957 1,524,066
Accrued expenses 958,835 1,247,116
Deferred revenue 3,398,905 4,004,015
Total current liabilities 5,850,697 6,775,197
Deferred tax liability 1,519,433 1,803,519
Deferred rent 48,121 56,082
Other liabilities 26,160 52,321
Total liabilities 7,444,411 8,687,119
Commitments and contingencies
Stockholders’ Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized; 4,344,159 shares and 3,963,864 shares issued as of March 31, 2018 and December 31, 2017, respectively; and 4,343,111 shares and 3,962,816 shares outstanding as of March 31, 2018 and December 31, 2017, respectively 43,442 39,639
Additional paid in capital 81,617,767 80,016,218
Accumulated other comprehensive loss 105,556 28,848
Accumulated deficit (71,780,198) (69,745,785)
Treasury stock, at cost; 1,048 shares at March 31, 2018 and December 31, 2017 (37,117) (37,117)
Total stockholders’ equity 9,949,450 10,301,803
Total liabilities and stockholders’ equity $ 17,393,861 $ 18,988,922

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