$CNFN
CFN Enterprises Inc.

2016 Q1 Form 10-Q Financial Statement

#000143774916031423 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $5.864M $5.200M
YoY Change 12.78% 51.72%
Cost Of Revenue $1.932M $1.318M
YoY Change 46.62% 67.0%
Gross Profit $3.932M $3.882M
YoY Change 1.29% 47.15%
Gross Profit Margin 67.05% 74.66%
Selling, General & Admin $2.289M $2.454M
YoY Change -6.75% 205.6%
% of Gross Profit 58.21% 63.23%
Research & Development $1.030M $875.4K
YoY Change 17.72% 51.77%
% of Gross Profit 26.21% 22.55%
Depreciation & Amortization $264.1K $403.0K
YoY Change -34.47% 56.8%
% of Gross Profit 6.72% 10.38%
Operating Expenses $4.312M $5.464M
YoY Change -21.08% 81.98%
Operating Profit -$380.2K -$1.582M
YoY Change -75.97% 334.21%
Interest Expense -$200.0K -$10.00K
YoY Change 1900.0%
% of Operating Profit
Other Income/Expense, Net -$203.1K -$12.37K
YoY Change 1542.33% 273.71%
Pretax Income -$580.0K -$1.590M
YoY Change -63.52% 329.73%
Income Tax
% Of Pretax Income
Net Earnings -$583.2K -$1.594M
YoY Change -63.42% 333.67%
Net Earnings / Revenue -9.95% -30.66%
Basic Earnings Per Share -$0.01 -$0.03
Diluted Earnings Per Share -$0.01 -$0.03
COMMON SHARES
Basic Shares Outstanding 65.07M 62.83M
Diluted Shares Outstanding 65.07M 62.83M

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.080M $1.490M
YoY Change -27.52% 31.86%
Cash & Equivalents $1.081M $1.489M
Short-Term Investments
Other Short-Term Assets $220.0K $220.0K
YoY Change 0.0% 175.0%
Inventory
Prepaid Expenses
Receivables $2.094M $1.947M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.393M $3.654M
YoY Change -7.15% 39.47%
LONG-TERM ASSETS
Property, Plant & Equipment $2.163M $1.446M
YoY Change 49.53% 68.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $115.5K $126.8K
YoY Change -8.88% 15.29%
Total Long-Term Assets $2.278M $1.772M
YoY Change 28.58% 0.67%
TOTAL ASSETS
Total Short-Term Assets $3.393M $3.654M
Total Long-Term Assets $2.278M $1.772M
Total Assets $5.671M $5.426M
YoY Change 4.52% 23.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.410M $1.700M
YoY Change 41.76% 13.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $630.0K $0.00
YoY Change
Long-Term Debt Due $4.540M
YoY Change
Total Short-Term Liabilities $7.600M $1.776M
YoY Change 328.01% -13.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $3.900M
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $3.900M
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.600M $1.776M
Total Long-Term Liabilities $0.00 $3.900M
Total Liabilities $7.603M $5.676M
YoY Change 33.96% 176.86%
SHAREHOLDERS EQUITY
Retained Earnings -$25.85M -$20.60M
YoY Change 25.5%
Common Stock $65.07K $62.83K
YoY Change 3.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.932M -$249.8K
YoY Change
Total Liabilities & Shareholders Equity $5.671M $5.426M
YoY Change 4.52% 23.88%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$583.2K -$1.594M
YoY Change -63.42% 333.67%
Depreciation, Depletion And Amortization $264.1K $403.0K
YoY Change -34.47% 56.8%
Cash From Operating Activities $218.4K -$422.5K
YoY Change -151.69% -29.31%
INVESTING ACTIVITIES
Capital Expenditures $44.95K
YoY Change 18.67%
Acquisitions
YoY Change
Other Investing Activities -$470.0K -$180.0K
YoY Change 161.11% 20.0%
Cash From Investing Activities -$470.3K -$222.4K
YoY Change 111.5% 15.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 432.2K 1.010M
YoY Change -57.19% 32.51%
NET CHANGE
Cash From Operating Activities 218.4K -422.5K
Cash From Investing Activities -470.3K -222.4K
Cash From Financing Activities 432.2K 1.010M
Net Change In Cash 180.3K 364.7K
YoY Change -50.56% -1419.27%
FREE CASH FLOW
Cash From Operating Activities $218.4K -$422.5K
Capital Expenditures $44.95K
Free Cash Flow $218.4K -$467.4K
YoY Change -146.72% -26.45%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 aclzob Weightedaverage Antidilutive Securities Excluded From Computation Of Earnings Per Share Amountloss
WeightedaverageAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmountloss
19752825
CY2015Q1 aclzob Warrants Issued Fair Value Disclosure
WarrantsIssuedFairValueDisclosure
37289
CY2016Q1 aclzob Weighted Average Number Of Diluted Shares Outstanding Discontinued Operations
WeightedAverageNumberOfDilutedSharesOutstandingDiscontinuedOperations
65069327
CY2015Q1 aclzob Weighted Average Number Of Diluted Shares Outstanding Discontinued Operations
WeightedAverageNumberOfDilutedSharesOutstandingDiscontinuedOperations
62831019
CY2016Q1 aclzob Weightedaverage Antidilutive Securities Excluded From Computation Of Earnings Per Share Amountloss
WeightedaverageAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmountloss
18869637
CY2015Q1 aclzob Cashless Exercise Of Options
CashlessExerciseOfOptions
11458
CY2016Q1 aclzob Fair Value Of Warrants Issued In Connection With Line Of Credit
FairValueOfWarrantsIssuedInConnectionWithLineOfCredit
CY2015Q1 aclzob Fair Value Of Warrants Issued In Connection With Line Of Credit
FairValueOfWarrantsIssuedInConnectionWithLineOfCredit
37289
CY2015Q1 aclzob Proceeds From Stock Options And Warrant Exercises
ProceedsFromStockOptionsAndWarrantExercises
9586
CY2016Q1 aclzob Proceeds From Stock Options And Warrant Exercises
ProceedsFromStockOptionsAndWarrantExercises
CY2016Q1 aclzob Stock Issued During Period Shares Stock Options Exercised Cash
StockIssuedDuringPeriodSharesStockOptionsExercisedCash
0
CY2015Q1 aclzob Stock Issued During Period Shares Stock Options Exercised Cash
StockIssuedDuringPeriodSharesStockOptionsExercisedCash
11457
CY2015Q1 aclzob Stock Issued During Period Shares Stock Options Exercised Noncash
StockIssuedDuringPeriodSharesStockOptionsExercisedNoncash
5233
CY2015Q4 us-gaap Assets
Assets
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CY2016Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2414458
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
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CY2016Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1854351
CY2016Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-28868
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-21680
CY2016Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
23881525
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
23440366
CY2016Q1 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Advertising</div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company expenses advertising costs as incurred.</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 95%; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; width: 700px;" border="0" cellpadding="0" cellspacing="0"> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Three-month periods ended,</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March 31,</div></div> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">March 31,</div></div> <div style=" TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2015</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: #cceeff"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 68%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Advertising expense</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">37,326</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 13%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">151,497</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div></div>
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AdvertisingExpense
37326
CY2015Q1 us-gaap Advertising Expense
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CY2016Q1 us-gaap Allocated Share Based Compensation Expense
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CY2016Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2016Q1 us-gaap Amortization Of Debt Discount Premium
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CY2015Q1 us-gaap Amortization Of Debt Discount Premium
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CY2016Q1 us-gaap Amortization Of Intangible Assets
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CY2015Q1 us-gaap Amortization Of Intangible Assets
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CY2016Q1 us-gaap Assets
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CY2015Q4 us-gaap Assets Current
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CY2016Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2015Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2015Q4 us-gaap Capitalized Computer Software Net
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q1 us-gaap Cash Fdic Insured Amount
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CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2016Q1 us-gaap Common Stock Shares Authorized
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CY2016Q1 us-gaap Common Stock Value
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CY2015Q4 us-gaap Common Stock Value
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CY2015Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2016Q1 us-gaap Concentration Risk Credit Risk
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Concentration of Credit Risks</div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is subject to concentrations of credit risk primarily from cash and cash equivalents and accounts receivable.</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company&#x2019;s cash and cash equivalents accounts are held at a financial institution and are insured by the Federal Deposit Insurance Corporation, or the FDIC, up to $250,000. During the three-month period ended March 31, 2016, the Company has reached bank balances exceeding the FDIC insurance limit. To reduce its risk associated with the failure of such financial institutions, the Company periodically evaluates the credit quality of the financial institution in which it holds deposits.</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company's accounts receivable are due from customers, generally located in the United States, Europe, Asia, and Canada. None of the Company&#x2019;s customers accounted for more than 10% of its accounts receivable at March 31, 2016 or December 31, 2015.&nbsp;&nbsp;The Company does not require any collateral from its customers.</div></div></div></div>
CY2016Q1 us-gaap Cost Of Revenue
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CY2016Q1 us-gaap Depreciation
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CY2015Q1 us-gaap Depreciation
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CY2015Q1 us-gaap Depreciation Depletion And Amortization
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CY2016Q1 us-gaap Earnings Per Share Basic
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CY2015Q1 us-gaap Earnings Per Share Basic
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CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P4Y90D
CY2016Q1 us-gaap Gross Profit
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CY2015Q1 us-gaap Gross Profit
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CY2016Q1 us-gaap Interest Expense Debt
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CY2015Q1 us-gaap Interest Expense Debt
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CY2016Q1 us-gaap Interest Paid
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CY2016Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2015Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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178075
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
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CY2015Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-131308
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
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-9418
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
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-6174
CY2016Q1 us-gaap Increase Decrease In Prepaid Expense
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-22243
CY2015Q1 us-gaap Increase Decrease In Prepaid Expense
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14373
CY2015Q1 us-gaap Interest Paid
InterestPaid
45005
CY2016Q1 us-gaap Investment Income Interest
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CY2015Q1 us-gaap Investment Income Interest
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32978
CY2016Q1 us-gaap Liabilities
Liabilities
7603125
CY2015Q4 us-gaap Liabilities
Liabilities
6845627
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5670997
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5062769
CY2014Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
6000000
CY2014Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3000000
CY2016Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
5135000
CY2016Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
4544030
CY2015Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
4598441
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
432223
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1009586
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-470308
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-222371
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
218399
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-422502
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-583241
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-1594222
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-583241
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1594222
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-203090
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12366
CY2016Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
4312046
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
5463752
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-380151
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1581856
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
115547
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
124882
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-7188
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-6543
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7188
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6543
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7188
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-6543
CY2016Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
625000
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
CY2016Q1 us-gaap Other Noncash Income
OtherNoncashIncome
-441159
CY2015Q1 us-gaap Other Noncash Income
OtherNoncashIncome
-636667
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
130000
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44947
CY2016Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
475000
CY2015Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
177424
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
217678
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
239921
CY2015Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1030456
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
62777
CY2016Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
625000
CY2015Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1000000
CY2016Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4692
CY2015Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-583241
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-1594222
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4275992
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3811215
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2162642
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1956864
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
20929
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-196305
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
875382
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25849853
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25266612
CY2016Q1 us-gaap Revenues
Revenues
5864018
CY2015Q1 us-gaap Revenues
Revenues
5199662
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
992878
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2133924
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2288712
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2454446
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
58824
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.53
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
22500000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
55000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
22500
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.45
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.66
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13585000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13590000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.48
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.48
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
-1932128
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-1782858
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reporting amounts of revenues and expenses during the reported period. Actual results will differ from those estimates. Included in these estimates are assumptions about collection of accounts receivable, useful life of fixed assets, and assumptions used in Black-Scholes-Merton, or BSM, valuation methods, such as expected volatility, risk-free interest rate, and expected dividend rate.</div></div></div></div>
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65069327
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62831019
CY2016Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
65069327
CY2015Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
62831019
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65069327
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62831019

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