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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 5,268,441 $ 3,692,925
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 1,498,358 1,197,741
Depreciation and amortization expense 2,083,655 2,175,220
Provision for doubtful accounts 62,675 7,403
Disposal of property and equipment 500  
Gain on insurance settlement   (517,930)
Changes in operating assets and liabilities:    
Decrease (increase) in settlement assets 1,160,869 (322,982)
(Increase) decrease in accounts receivables, prepaid expenses and other current assets (258,790) 1,184,851
Decrease (increase) in other long-term assets 310,542 (131,588)
(Decrease) increase in accounts payable and accrued expenses (3,062,995) 559,792
(Decrease) increase in due to merchants (1,169,931) 323,105
Other (44,740) (133,242)
Net cash provided by operating activities 5,848,584 8,035,295
Cash flows from investing activities:    
Decrease (increase) in restricted cash 2,853 (27,651)
Decrease in merchant reserves (1,990) (92,169)
Purchase of property and equipment (156,165) (175,570)
Capitalized software development (999,733) (828,393)
Purchase of intangible assets (16,299) (16,500)
Net cash used for investing activities (1,171,334) (1,140,283)
Cash flows from financing activities:    
Proceeds from issuance of common stock 2,287,990 1,203,750
Principal payments on capital lease obligations (272,417) (404,884)
Borrowings under credit facility 13,916,000  
Repayments under credit facility (4,000,000)  
Purchase of treasury stock (23,843,474) (4,567,501)
Net cash used for financing activities (11,911,901) (3,768,635)
Net (decrease) increase in cash and cash equivalents (7,234,651) 3,126,377
Cash and cash equivalents at beginning of period 14,675,515 9,837,791
Cash and cash equivalents at end of period 7,440,864 12,964,168
Cash paid for:    
Interest 165,252 36,585
Income taxes 744,911 539,520
Non-cash investing and financing activities:    
Common stock issued for preferred stock conversion 21,629  
Common stock issued for stock options exercised 98  
Assets acquired under capital leases 122,630 156,129
Accrued capitalized hardware, software and fixed assets 75,870 39,158
Capitalized stock-based compensation $ 21,625 $ 27,245