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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash $ 1,511,819 $ 246,492
Accounts and unbilled receivables (net of allowance for doubtful accounts of 550,000 and $550,000 at September 30, 2016 and December 31, 2015, respectively) 11,597,221 9,555,725
Other current assets 1,528,997 243,476
Total current assets 14,638,037 10,045,693
Long-term assets    
Intangible assets, customer lists and technology stacks – net 14,037,492 11,566,643
Goodwill 2,004,600 2,004,600
Equipment under capital lease – net 298,156 366,961
Equipment – net 162,166 168,169
Other Long-term assets    
Software development costs – net 14,736,189 11,357,524
Deferred licensing and royalty fees – net 780,000 960,000
Other assets 401,346 327,329
TOTAL ASSETS 47,057,986 36,796,919
Current Liabilities    
Accounts payable and accrued expenses 5,712,367 5,652,257
Note payable – revolver 3,748,738 7,601,904
Current portion of earnouts 272,173 343,075
Current obligation under capital lease 174,166 152,640
Current maturities - long term debt (net of debt discount of nil and debt issuance costs of $398,924 at September 30, 2016 and $31,945 and $223,605 at December 31, 2015, respectively) 4,871,027 2,413,739
Cash payable for investment 4,342,425 0
Total current liabilities 19,120,896 16,163,615
Non-current obligation under capital lease 27,649 162,149
Long-term debt, less current maturities (net of debt discount of nil and debt issuance costs of $520,442 at September 30, 2016 and $197,333 and $133,374 at December 31, 2015, respectively) 9,730,792 4,205,389
Contingent earnouts 2,400,000 0
Common stock payable 120,000 0
Total liabilities 31,399,337 20,531,153
Stockholders’ Equity    
Common stock - $0.001 par value; authorized: 200,000,000 shares: issued and outstanding 106,991,504 and 108,861,774 shares at September 30, 2016 and December 31, 2015, respectively 106,992 108,862
Additional paid-in capital 34,822,979 35,194,180
Accumulated deficit (19,271,322) (19,037,276)
Total stockholders’ equity 15,658,649 16,265,766
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 47,057,986 $ 36,796,919