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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income (loss) $ 6,817,568 $ (877,537)
Adjustments to reconcile net loss to net cash used in operating activities:    
Realization of cumulative translation adjustment 0 229,192
Share-based compensation expense 348,720 333,231
Change in fair value of derivative instruments 290,586 (217,630)
Depreciation expense 78,136 73,793
Deferred income taxes 30,873 30,873
Non-cash interest expense 9,977 17,879
Gain on the disposal of property and equipment (687) (7,600)
Changes in operating assets and liabilities:    
Billed accounts receivable (512,380) (276,979)
Unbilled accounts receivable 165,432 (492,754)
Prepaid expenses and other current assets (236,922) (127,433)
Other long-term assets and deferred costs 53,384 0
Accounts payable 189,984 (182,940)
Accrued restructuring expenses (263,443) 790,617
Accrued expenses and other liabilities 213,067 647,233
Net cash provided by (used in) operating activities 7,184,295 (60,055)
Investing activities    
Purchases of property and equipment (28,137) (56,277)
Proceeds from the sale of property and equipment 687 7,600
Net cash used in investing activities (27,450) (48,677)
Financing activities    
Repayment of debt 0 (499,998)
Proceeds from issuance of common stock, including exercise of stock options, net of offering costs 436,188 376,545
Other (889) 0
Net cash provided by (used in) financing activities 435,299 (123,453)
Effects of exchange rates on cash (4,074) 673
Increase (Decrease) in cash and cash equivalents 7,588,070 (231,512)
Cash and cash equivalents, at beginning of period 15,569,813 18,643,351
Cash and cash equivalents, at end of period 23,157,883 18,411,839
Supplemental disclosure of cash flow information    
Cash paid for interest $ 0 $ 21,452