Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Summary of Cumulative Effect Adjustments Resulting from Adoption of New Standard, Including Income Tax Implications

The cumulative effect adjustments resulting from the adoption of the new standard, including income tax implications, as of January 1, 2018 were as follows:

	Balance at December 31, 2017		Adjustments due to ASU 2014-09 Adoption		Balance at January 1, 2018
Balance Sheet
Assets
Deferred tax asset, net	$	12,072,118	$	(588,223)	$	11,483,895
Other assets	$	217,161	$	3,110,472	$	3,327,633
Total assets	$	121,603,733	$	2,522,249	$	124,125,982
Liabilities
Accrued expenses and other liabilities	$	4,149,363	$	683,291	$	4,832,654
Deferred revenue	$	26,533,983	$	24,724	$	26,558,707
Other long-term liabilities	$	2,447,037	$	133,915	$	2,580,952
Total liabilities	$	33,130,383	$	841,930	$	33,972,313
Equity
Retained earnings (deficit)	$	(21,117,601)	$	1,680,319	$	(19,437,282)
Total stockholders’ equity	$	88,473,350	$	1,680,319	$	90,153,669

Summary of Impact of New Standard on Consolidated Statement of Operations and Balance Sheet

The impact of the new standard on the Company’s consolidated statements of operations and balance sheet as of and for the three and six months ended June 30, 2018 was as follows:

	For the Three Months Ended June 30, 2018
	As Reported		Balances   Without Adoption of   ASU 2014-09 (A)		Effect of Change     Higher/(Lower)
Statement of Operations Data
Revenue
Subscription revenue	$	11,520,201	$	11,517,939	$	2,262
Other revenue		463,693		478,693		(15,000)
Total revenue	$	11,983,894	$	11,996,632	$	(12,738)
Operating expenses
Sales and marketing	$	3,234,762	$	3,128,080	$	106,682
(Loss) before income taxes		(580,003)		(460,583)		(119,420)
Income tax (benefit)		(121,000)		(90,000)		(31,000)
Net (loss)	$	(459,003)	$	(370,583)	$	88,420
Net (loss) per common share	$	(0.04)	$	(0.03)
	For the Six Months Ended June 30, 2018
	As Reported		Balances Without Adoption of ASU 2014-09 (A)		Effect of Change Higher/(Lower)
Statement of Operations Data
Revenue
Subscription revenue	$	23,077,356	$	23,097,092	$	(19,736)
Other revenue		686,193		701,193		(15,000)
Total revenue	$	23,763,549	$	23,798,285	$	(34,736)
Operating expenses
Sales and marketing	$	6,233,321	$	6,050,909	$	182,412
(Loss) before income taxes		(976,104)		(758,956)		(217,148)
Income tax (benefit)		(165,000)		(109,000)		(56,000)
Net (loss)	$	(811,104)	$	(649,956)	$	(161,148)
Net (loss) per common share	$	(0.07)	$	(0.06)
	As of June 30, 2018
	As reported		Balances without Adoption of ASU 2014-09 (A)		Effect of change Higher/(Lower)
Balance Sheet Data
Assets
Deferred tax asset, net	$	11,683,895	$	12,211,118	$	(527,223)
Other assets	$	3,238,422	$	182,382	$	3,056,040
Liabilities
Accrued expenses and other liabilities	$	4,825,408	$	4,055,961	$	769,447
Deferred revenue	$	25,890,104	$	25,818,991	$	71,113
Other long-term liabilities	$	2,531,017	$	2,355,278	$	175,739
Equity
Retained earnings (deficit)	$	(24,681,312)	$	(23,168,794)	$	(1,512,518)

(A) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09.