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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 7,082,168 $ 5,268,441
Net income 7,082,168 5,268,441
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 767,874 1,498,358
Depreciation and amortization expense 1,549,864 2,083,655
Provision for doubtful accounts 3,858 62,675
Deferred income taxes 329,695  
Loss on disposal of property and equipment   500
Changes in operating assets and liabilities:    
Decrease in settlement assets 630,884 1,160,869
Increase in accounts receivables, prepaid expenses and other assets (1,928,650) (258,790)
Decrease in other long-term assets 652,244 310,542
Decrease in accounts payable and accrued expenses (2,353,775) (2,407,891)
Decrease in due to merchants (673,318) (1,169,931)
Other 126,062 (44,740)
Net cash provided by operating activities 6,186,906 6,503,688
Cash flows from investing activities:    
(Increase) decrease in restricted cash (178) 2,853
Decrease in merchant reserve   (1,990)
Purchase of property and equipment (318,676) (156,165)
Capitalized software development (709,760) (999,733)
Purchase of intangible assets (12,295) (16,299)
Net cash used in investing activities (1,040,909) (1,171,334)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,602,293 2,287,990
Principal payments on capital lease obligations (199,349) (272,417)
Borrowings under credit facility   13,916,000
Repayments under credit facility (9,916,000) (4,000,000)
Purchase of treasury stock   (23,843,474)
Common stock repurchases for tax withholdings (136,260) (655,104)
Net cash used in financing activities (8,649,316) (12,567,005)
Net decrease in cash and cash equivalents (3,503,319) (7,234,651)
Cash and cash equivalents at beginning of period 13,305,816 14,675,515
Cash and cash equivalents at end of period 9,802,497 7,440,864
Cash paid for:    
Interest 176,901 165,252
Income taxes 909,249 744,911
Non-cash investing and financing activities:    
Common stock issued for preferred stock conversion   21,629
Common stock issued for stock options exercised 262 98
Assets acquired under capital leases 47,067 122,630
Accrued capitalized hardware, software and fixed assets 238,970 75,870
Capitalized stock-based compensation $ 11,333 $ 21,625