XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net (loss) $ (1,050,806) $ (286,583)
Adjustments to reconcile net (loss) to net cash (used) by operating activities:    
Depreciation 208,662 187,760
Amortization 250,001 40,785
Non-cash stock based compensation 374,378 207,920
Changes in current assets and current liabilities:    
Accounts receivable 77,518 56,918
Prepaid expenses and other (192,569) (130,557)
Other assets (25,125) (28,763)
Accounts payable and accrued expenses (74,161) 191,103
Merchant reserves 102,765 (1,078,211)
Deferred revenue 90,250 0
Net cash (used) by operating activities (239,087) (839,628)
Investing activities:    
Purchases of property and equipment (29,502) (210,052)
Notes receivable 0 (500,000)
Net cash (used) by investing activities (29,502) (710,052)
Financing activities:    
Purchases of treasury stock (956,134) (30,964)
Net cash (used) by financing activities (956,134) (30,964)
Change in cash, cash equivalents and merchant reserves (1,224,723) (1,580,644)
Cash, cash equivalents and merchant reserves, beginning of period 19,778,022 19,924,379
Cash, cash equivalents and merchant reserves, end of period 18,553,299 18,343,735
Supplemental disclosure of cash flow information:    
Interest 0 0
Income taxes $ 0 $ 0