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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net loss $ (877,537) $ (2,697,560)
Adjustments to reconcile net loss to net cash used in operating activities:    
Realization of cumulative translation adjustment 229,192  
Share-based compensation expense 333,231 $ 891,983
Change in fair value of derivative instruments (217,630) (1,025,190)
Depreciation expense 73,793 76,147
Deferred income taxes 30,873 23,037
Non-cash interest expense 17,879 49,311
Gain on the disposal of property and equipment (7,600) (5,393)
Changes in operating assets and liabilities:    
Billed accounts receivable (276,979) 1,427,113
Unbilled accounts receivable (492,754) 1,582,129
Prepaid expenses and other current assets (127,433) (278,333)
Accounts payable (182,940) $ (690,790)
Accrued restructuring expenses 790,617  
Accrued expenses and other liabilities $ 647,233 $ (1,838,131)
Deferred revenue   (341,723)
Net cash used in operating activities $ (60,055) (2,827,400)
Investing activities    
Purchases of property and equipment (56,277) (79,227)
Proceeds from the sale of property and equipment 7,600 8,000
Net cash used in investing activities (48,677) (71,227)
Financing activities    
Repayment of debt $ (499,998) (499,998)
Net repayment of revolving credit agreement   (1,091,740)
Proceeds from issuance of common stock, net of offering costs $ 376,545 5,275,584
Net cash (used in) provided by financing activities (123,453) 3,683,846
Effects of exchange rates on cash 673 (1,116)
Decrease (increase) in cash and cash equivalents (231,512) 784,103
Cash and cash equivalents, at beginning of period 18,643,351 10,480,979
Cash and cash equivalents, at end of period 18,411,839 11,265,082
Supplemental disclosure of cash flow information    
Cash paid for interest $ 21,452 $ 77,797