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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (6,578,420) $ (10,653,419)
Adjustments to reconcile net loss to net cash used in operating activities    
Share-based compensation expense 967,902 1,133,335
Provision for doubtful accounts 9,087 0
Depreciation and amortization 283,468 414,486
Amortization of interest expense related to debt issuance costs 0 128,879
Amortization of interest expense related to beneficial conversion feature 0 2,126,301
Income tax benefit (25,836) (84,249)
Loss on long-term equity investments 143,666 16,646
Loss on disposal of assets 2,421 8,334
Change in fair value of warrant liabilities (125,364) 655,849
Change in fair value of contingent consideration 0 160,766
Gain from disposal of consolidated entities 0 (727,963)
Change in assets and liabilities,    
Accounts receivable (1,496,756) (461,473)
Licensed content 80,889 (555,762)
Prepaid expenses and other assets (338,814) (97,399)
Accounts payable (88,440) (482,932)
Accrued expenses and other liabilities 346,468 350,541
Deferred revenue 204,560 73,175
Deferred license fee 398,064 4,663
Net cash used in operating activities (6,217,105) (7,990,222)
Cash flows from investing activities:    
Acquisition of property and equipment (32,193) (58,869)
Acquisition of leasehold improvements 0 (9,492)
Investments in intangibles and research and development (48,938) (292)
Investments in unconsolidated entities 0 (208,760)
Sale of subsidiary 0 (7,549)
Net cash used in investing activities (81,131) (284,962)
Cash flows from financing activities    
Proceeds from sale of Series E Preferred Stock 0 19,000,000
Proceeds from the exercise of warrants and options 0 995,607
Series D Preferred Stock dividend payment 0 (92,054)
Interest paid on convertible note 0 (2,386,051)
Net cash provided by financing activities 0 17,517,502
Effect of exchange rate changes on cash (157,374) (19,992)
Net increase/(decrease) in cash and cash equivalents (6,455,610) 9,222,326
Cash and cash equivalents at beginning of period 10,812,371 3,822,889
Cash and cash equivalents at end of period 4,356,761 13,045,215
Supplemental Cash Flow Information:    
Cash paid for income taxes 0 0
Cash paid for interest 0 0
Value of warrants issued for issuance costs in connection with Preferred Series E Preferred Stock 0 2,166,296
Conversion of convertible promissory note for Series E Preferred Stock 0 2,000,000
Exchange of Series D Preferred Stock for Series E Preferred Stock 0 4,000,000
Value of common stock issued from conversion of Preferred Series C shares 0 219,754
Values of shares and options issued for Sinotop contingent consideration earn-out 0 739,265
Exchange of Series E Preferred Stock for common stock $ 110 $ 0