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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net (loss) income $ (1,226,906) $ 1,463,395
Adjustments to reconcile (loss) income to net cash used in operating activities:    
Share-based compensation expense 181,921 199,627
Change in fair value of derivative instruments (39,898) (338,245)
Depreciation expense 37,701 37,106
Deferred income taxes 15,437 19,805
Non-cash interest expense 5,485 10,933
Gain on the disposal of property and equipment 0 (7,600)
Changes in operating assets and liabilities:    
Billed accounts receivable 341,671 (5,863,332)
Unbilled accounts receivable (303,475) (296,828)
Prepaid expenses and other current assets (282,160) (253,779)
Accounts payable (354,765) 146,740
Accrued restructuring expenses (196,716) 1,938,631
Accrued expenses and other liabilities 466,563 230,186
Net cash used in operating activities (1,355,142) (2,713,361)
Investing activities    
Purchases of property and equipment (150) (35,352)
Proceeds from the sale of property and equipment 0 7,600
Net cash used in investing activities (150) (27,752)
Financing activities    
Repayment of debt 0 (249,999)
Net repayment of revolving credit agreement 0 0
Proceeds from issuance of common stock, net of offering costs 23,237 84,332
Other (885) 0
Net cash provided by (used in) financing activities 22,352 (165,667)
Effects of exchange rates on cash (1,252) (11,615)
Decrease in cash and cash equivalents (1,334,192) (2,918,395)
Cash and cash equivalents, at beginning of period 15,569,813 18,643,351
Cash and cash equivalents, at end of period 14,235,621 15,724,956
Supplemental disclosure of cash flow information    
Cash paid for interest $ 0 $ 14,849