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Branded Payment Solutions Acquisition (Tables)
12 Months Ended
Dec. 31, 2012
Branded Payment Solutions Acquisition  
Schedule of total purchase price being allocated on a preliminary basis to the assets acquired and liabilities assumed according to their estimated fair values at the date of acquisition with the remaining unallocated purchase price recorded as goodwill

 

 

Current assets

 

$

818,601

 

Property and equipment

 

29,758

 

Non-current assets

 

113,603

 

Developed technology

 

2,796,411

 

Goodwill

 

335,791

 

Total assets acquired

 

4,094,164

 

Total liabilities assumed

 

(672,684

)

Net assets acquired

 

$

3,421,480

 

Schedule of unaudited pro forma summary of operations

 

 

 

 

Year ended
December 31,

 

 

 

2012

 

2011

 

Net revenue

 

$

43,817,208

 

$

47,688,000

 

Net (loss) income

 

(4,791,408

)

3,130,964

 

Basic net (loss) income per share

 

(0.09

)

0.06

 

Diluted net (loss) income per share

 

(0.09

)

0.05