XML 68 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities:    
Net income $ 626,310us-gaap_ProfitLoss $ 674,759us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Settlement of tax liability (406,453)inuv_PaymentsforTaxLiabilitySettlement 0inuv_PaymentsforTaxLiabilitySettlement
Depreciation and amortization 370,883us-gaap_DepreciationDepletionAndAmortization 454,473us-gaap_DepreciationDepletionAndAmortization
Deferred income taxes 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (75,698)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Amortization of financing fees 9,533us-gaap_AmortizationOfFinancingCosts 4,167us-gaap_AmortizationOfFinancingCosts
Adjustment of European liabilities related to discontinued operations (20,461)inuv_LiabilitiesAdjustmentDiscontinuedOperations 30,871inuv_LiabilitiesAdjustmentDiscontinuedOperations
(Recovery) Provision of doubtful accounts (80)inuv_ProvisionRecoveryforDoubtfulAccounts 17,000inuv_ProvisionRecoveryforDoubtfulAccounts
Stock based compensation 51,924us-gaap_ShareBasedCompensation 130,448us-gaap_ShareBasedCompensation
Other, net (251,084)us-gaap_OtherOperatingActivitiesCashFlowStatement (96,289)us-gaap_OtherOperatingActivitiesCashFlowStatement
Change in operating assets and liabilities:    
Accounts receivable and unbilled revenue (2,287,739)us-gaap_IncreaseDecreaseInAccountsReceivable (327,790)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other assets 57,613us-gaap_IncreaseDecreaseInPrepaidExpense 98,940us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable 1,307,931us-gaap_IncreaseDecreaseInAccountsPayableTrade (541,985)us-gaap_IncreaseDecreaseInAccountsPayableTrade
Accrued expenses and other liabilities (837,934)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 11,173us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Other, net 11,801us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 0us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash (used in) provided by operating activities (1,367,756)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 380,069us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:    
Purchases of equipment and capitalized development costs (239,427)us-gaap_PaymentsToAcquireProductiveAssets (178,423)us-gaap_PaymentsToAcquireProductiveAssets
Net cash used in investing activities (239,427)us-gaap_NetCashProvidedByUsedInInvestingActivities (178,423)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing activities:    
Proceeds from revolving line of credit 0inuv_AdvancesFromCreditNotePayable 750,000inuv_AdvancesFromCreditNotePayable
Payments on revolving line of credit 0us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (761,469)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Payments on term note payable and capital leases (183,725)inuv_PaymentsonTermNotePayableandCapitalLeases (604,349)inuv_PaymentsonTermNotePayableandCapitalLeases
Net cash used in financing activities (183,725)us-gaap_NetCashProvidedByUsedInFinancingActivities (615,818)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net change – cash (1,790,908)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (414,172)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, beginning of year 3,714,525us-gaap_CashAndCashEquivalentsAtCarryingValue 3,137,153us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash, end of period 1,923,617us-gaap_CashAndCashEquivalentsAtCarryingValue 2,722,981us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental information:    
Interest paid 37,075us-gaap_InterestPaid 74,667us-gaap_InterestPaid
Income taxes paid $ 97,483us-gaap_IncomeTaxesPaid $ 0us-gaap_IncomeTaxesPaid