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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net income $ 1,071,318 $ 1,057,050
Adjustments to reconcile net income to net cash provided by operating activities:    
Settlement of tax liability (406,453) 0
Depreciation and amortization 843,085 896,309
Deferred income taxes 0 (75,698)
Amortization of financing fees 10,178 12,980
Adjustment of European liabilities related to discontinued operations (11,405) (59,063)
(Recovery) Provision of doubtful accounts (13,036) 15,032
Stock based compensation 134,674 378,830
Change in operating assets and liabilities:    
Accounts receivable and unbilled revenue (1,235,153) (161,440)
Prepaid expenses and other assets 4,901 43,086
Accounts payable 2,665,878 (728,227)
Accrued expenses and other liabilities 3,607 217,644
Net cash provided by operating activities 3,067,594 1,596,503
Investing activities:    
Purchases of equipment and capitalized development costs (577,140) (375,285)
Net cash used in investing activities (577,140) (375,285)
Financing activities:    
Net taxes paid on RSU grants exercised 251,083 96,289
Proceeds from revolving line of credit 0 1,350,000
Payments on revolving line of credit (1,793,275) (1,261,469)
Payments on term note payable and capital leases (381,282) (949,576)
Net cash used in financing activities (2,425,640) (957,334)
Net change – cash 64,814 263,884
Cash, beginning of year 3,714,525 3,137,153
Cash, end of period 3,779,339 3,401,037
Supplemental information:    
Interest paid 71,759 161,564
Income taxes paid 97,483 0
Non-cash investing and financing activities:    
Purchase of property and equipment under capital lease 103,609 0
Purchase of intangible assets through a contingent liability $ 715,874 $ 0