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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,873,775 $ 2,989,731
Accounts receivable, less allowance for doubtful accounts of $261,334 and $586,941 as of September 30, 2016 and December 31, 2015, respectively 32,204,812 33,298,797
Prepaid expenses and other current assets 3,102,927 946,908
Total current assets 37,181,514 37,235,436
Goodwill 58,337,290 58,337,290
Intangible assets, net 9,328,108 11,828,008
Property and equipment, net, and other assets 2,681,935 1,608,632
Total assets 107,528,847 109,009,366
Current liabilities:    
Accounts payable and accrued liabilities 34,299,608 34,847,359
Deferred revenue and other current liabilities 515,137 328,829
Total current liabilities 34,814,745 35,176,188
Line of credit 3,250,000 4,000,000
Other long-term liabilities 402,985 341,142
Total liabilities 38,467,730 39,517,330
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of September 30, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,263,322 and 13,973,597 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively, given retroactive effect to the 1-for-8 reverse stock split effective August 10, 2016 15,263 13,974
Additional paid-in capital 158,611,065 152,347,372
Accumulated deficit (89,565,211) (82,869,310)
Total stockholders’ equity 69,061,117 69,492,036
Total liabilities and stockholders’ equity $ 107,528,847 $ 109,009,366