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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,567,387) $ (1,595,937)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Deferred income tax expense (benefit) 3,663 (1,098,027)
Depreciation expense 243,186 224,128
Provision for doubtful accounts (23,127) (244)
Amortization of intangibles 530,770 655,441
Amortization of deferred financing costs 5,819 4,728
Share-based compensation expense 118,862 166,704
Loss on disposal of equipment 1,102 4,510
Changes in assets and liabilities:    
Accounts receivable and unbilled receivables (3,459,035) 1,459,732
Inventories 14,828 76,051
Prepaid expenses and other current assets (189,426) 141,598
Other assets excluding deferred financing costs 16,711 (2,910)
Accounts payable and accrued expenses 2,189,639 (1,006,496)
Income tax (payable) receivable 51,065 (184,780)
Deferred revenue and other liabilities 1,106,513 (112,747)
Net cash used in operating activities (1,956,817) (1,268,249)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (196,235) (176,543)
Software development costs (186,354) (138,781)
Business combination, net of cash acquired 0 (4,079,628)
Net cash used in investing activities (382,589) (4,394,952)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on bank line of credit 8,649,307 4,266,689
Repayments of bank line of credit advances (8,526,780) (5,183,352)
Principal repayments of long term debt (1,755,076) (736,261)
Principal repayments under capital lease obligations (31,128) (22,922)
Proceeds from public stock offering, net of offering costs 0 11,425,118
Proceeds from exercise of stock options 670,458 34,000
Net cash (used in) provided by financing activities (993,219) 9,783,272
Net effect of exchange rate on cash and equivalents (134,742) (16,760)
NET DECREASE IN CASH (3,467,367) 4,103,311
CASH, beginning of period 13,154,699 0
CASH, end of period 9,687,332 4,103,311
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 101,279 99,677
Cash paid for income taxes $ 60,295 $ 91,527