XML 19 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 1,052,401 $ (10,998,794)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,029,481 1,325,706
Share-based payment compensation 281,794 751,336
Non-cash professional services expenses 141,159 1,576,882
Loss on disposal of fixed assets 64,307 0
Provision for returns and doubtful accounts 93,816 69,391
Deferred income tax provision (147,791) (120,555)
Changes in operating assets and liabilities:    
Accounts receivable 1,014,594 1,381,566
Prepaid expenses and other current assets 44,488 416,372
Inventory 6,181 64,353
Other assets (787,527) 761,053
Accounts payable 728,260 (597,173)
Accrued expenses and other long-term liabilities (694,418) (1,993,076)
Deferred revenue (5,401,165) (2,060,557)
Net cash used in operating activities (2,574,420) (9,423,496)
Cash flows from investing activities:    
Sales of marketable securities 0 7,566,000
Purchases of marketable securities 0 (150,000)
Purchases of property and equipment (94,805) (294,061)
Security deposits 2,052 127,100
Purchase of intangible assets (90,965) (115,913)
Net cash provided by (used in) investing activities (183,718) 7,133,126
Cash flows from financing activities:    
Payments for tax withholding for share-based compensation (25,711) 0
Proceeds from issuance of short-term debt, net of issuance costs 351,656 0
Net cash provided by financing activities 325,945 0
Effect of exchange rate changes on cash and cash equivalents 52,137 (331,484)
Net decrease in cash and cash equivalents (2,380,056) (2,621,854)
Cash and cash equivalents, beginning of period 3,391,528 6,013,382
Cash and cash equivalents, end of period 1,011,472 3,391,528
Supplemental Disclosures:    
Cash paid for income taxes, net 209,267 518,955
Non-cash financing activities:    
Undistributed Series A redeemable convertible preferred stock dividends 873,043 195,904
Shares issued for Series A redeemable convertible preferred stock dividend payment 0 770,790
Detachable stock warrants issued with short-term debt $ (22,310) $ 0