XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (1,751,998) $ (7,831,494)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 553,455 747,974
Share-based payment compensation 501,410 637,231
Non-cash professional services expenses 41,159 1,480,725
Loss on disposal of fixed assets 63,774 0
Provision for returns and doubtful accounts 99,312 61,068
Deferred income taxes 30,124 (265,756)
Changes in operating assets and liabilities:    
Accounts receivable 1,961,276 1,787,845
Prepaid expenses and other current assets 403,937 377,103
Inventory 0 64,353
Other assets (154,832) 23,429
Accounts payable 193,640 (42,587)
Accrued expenses and other long-term liabilities (1,098,547) (289,754)
Deferred revenue (2,487,989) (541,348)
Net cash used in operating activities (1,645,279) (3,791,211)
Cash flows from investing activities:    
Sales of marketable securities 0 6,066,000
Purchases of marketable securities 0 (150,000)
Purchases of property and equipment (44,163) (110,421)
Security deposits (17,152) 82,311
Purchase of intangible assets (45,517) (61,506)
Net cash (used in) provided by investing activities (106,832) 5,826,384
Cash flows from financing activities:    
Payments for tax withholding for share-based compensation (25,710) 0
Net cash used in financing activities (25,710) 0
Effect of exchange rate changes on cash and cash equivalents 33,988 (123,221)
Net (decrease) increase in cash and cash equivalents (1,743,833) 1,911,952
Cash and cash equivalents, beginning of period 3,391,528 6,013,382
Cash and cash equivalents, end of period 1,647,695 7,925,334
Supplemental disclosures:    
Cash paid for income taxes, net 135,915 443,908
Non-cash investing and financing activities:    
Undistributed Series A redeemable convertible preferred stock dividends 419,664 195,366
Series A redeemable convertible preferred stock dividend payment $ 0 $ 381,413