$CNFN
CFN Enterprises Inc.

2016 Q2 Form 10-Q Financial Statement

#000143774916036766 Filed on August 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $6.003M $5.466M
YoY Change 9.83% 39.92%
Cost Of Revenue $2.031M $1.591M
YoY Change 27.61% 51.6%
Gross Profit $3.973M $3.874M
YoY Change 2.53% 35.63%
Gross Profit Margin 66.17% 70.89%
Selling, General & Admin $2.247M $2.351M
YoY Change -4.43% 50.03%
% of Gross Profit 56.57% 60.69%
Research & Development $974.0K $1.326M
YoY Change -26.57% 120.97%
% of Gross Profit 24.52% 34.23%
Depreciation & Amortization $96.75K $84.00K
YoY Change 15.18% 86.09%
% of Gross Profit 2.44% 2.17%
Operating Expenses $4.096M $5.593M
YoY Change -26.77% 56.74%
Operating Profit -$123.1K -$1.718M
YoY Change -92.84% 141.55%
Interest Expense -$210.0K -$40.00K
YoY Change 425.0%
% of Operating Profit
Other Income/Expense, Net -$210.2K -$41.51K
YoY Change 406.45% -941.57%
Pretax Income -$330.0K -$1.760M
YoY Change -81.25% 147.89%
Income Tax
% Of Pretax Income
Net Earnings -$333.3K -$1.760M
YoY Change -81.06% 149.11%
Net Earnings / Revenue -5.55% -32.2%
Basic Earnings Per Share -$0.01 -$0.03
Diluted Earnings Per Share -$0.01 -$0.03
COMMON SHARES
Basic Shares Outstanding 65.07M 62.84M
Diluted Shares Outstanding 65.07M 62.84M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $880.0K $400.0K
YoY Change 120.0% -71.83%
Cash & Equivalents $879.7K $403.7K
Short-Term Investments
Other Short-Term Assets $990.0K $400.0K
YoY Change 147.5% 900.0%
Inventory
Prepaid Expenses
Receivables $1.992M $2.287M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.857M $3.093M
YoY Change 24.69% 1.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.447M $1.450M
YoY Change 68.7% 43.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $110.3K $134.6K
YoY Change -18.04% 68.21%
Total Long-Term Assets $2.557M $1.645M
YoY Change 55.45% -4.37%
TOTAL ASSETS
Total Short-Term Assets $3.857M $3.093M
Total Long-Term Assets $2.557M $1.645M
Total Assets $6.414M $4.738M
YoY Change 35.37% -0.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.870M $1.690M
YoY Change 10.65% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $590.0K $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $2.462M $1.749M
YoY Change 40.78% -35.93%
LONG-TERM LIABILITIES
Long-Term Debt $5.490M $4.500M
YoY Change 22.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.490M $4.500M
YoY Change 22.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.462M $1.749M
Total Long-Term Liabilities $5.490M $4.500M
Total Liabilities $7.947M $6.249M
YoY Change 27.18% 128.91%
SHAREHOLDERS EQUITY
Retained Earnings -$26.18M -$22.36M
YoY Change 17.12%
Common Stock $65.06K $62.84K
YoY Change 3.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.534M -$1.511M
YoY Change
Total Liabilities & Shareholders Equity $6.414M $4.738M
YoY Change 35.37% -0.67%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$333.3K -$1.760M
YoY Change -81.06% 149.11%
Depreciation, Depletion And Amortization $96.75K $84.00K
YoY Change 15.18% 86.09%
Cash From Operating Activities -$770.0K -$1.440M
YoY Change -46.53% 747.06%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$80.00K
YoY Change -87.5% -46.67%
Acquisitions
YoY Change
Other Investing Activities -$550.0K -$190.0K
YoY Change 189.47% 18.75%
Cash From Investing Activities -$560.0K -$260.0K
YoY Change 115.38% -16.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.160M 600.0K
YoY Change 93.33% -22.08%
NET CHANGE
Cash From Operating Activities -770.0K -1.440M
Cash From Investing Activities -560.0K -260.0K
Cash From Financing Activities 1.160M 600.0K
Net Change In Cash -170.0K -1.100M
YoY Change -84.55% -479.31%
FREE CASH FLOW
Cash From Operating Activities -$770.0K -$1.440M
Capital Expenditures -$10.00K -$80.00K
Free Cash Flow -$760.0K -$1.360M
YoY Change -44.12% 6700.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
aclzob Cashless Exercise Of Options
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aclzob Class Of Warrant Or Right Issued During Period
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aclzob Fair Value Of Options And Warrants
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aclzob Fair Value Of Warrants Issued In Connection With Line Of Credit
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aclzob Fair Value Of Warrants Issued In Connection With Line Of Credit
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aclzob Stock Issued During Period Shares Stock Options Exercised Cash
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aclzob Stock Issued During Period Shares Stock Options Exercised Cash
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aclzob Weightedaverage Antidilutive Securities Excluded From Computation Of Earnings Per Share Amountloss
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CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2016Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2016Q2 us-gaap Additional Paid In Capital
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us-gaap Advertising Cost Policy Expensed Advertising Cost
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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="display: inline; font-family: times new roman; font-size: 10pt"><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="display: inline; font-family: times new roman; font-size: 10pt"><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">&nbsp;<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: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="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 months ended </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: 15pt" colspan="6"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt 7.5pt 0pt 15pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Six months 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; BORDER-BOTTOM: #000000 1px solid; 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">June 30,</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 0px">&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; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 15pt" colspan="6"> <div style=" TEXT-ALIGN: center; MARGIN: 0pt 7.5pt 0pt 15pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 30,</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px">&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; BORDER-BOTTOM: #000000 1px solid; 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">2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px">&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; BORDER-BOTTOM: #000000 1px solid; 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">2015</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px">&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; BORDER-BOTTOM: #000000 1px solid; 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">2016</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px">&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; BORDER-BOTTOM: #000000 1px solid; 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">2015</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px">&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> <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: 52%; 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">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">39,351</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">83,586</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">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">76,677</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">235,083</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></div></div></div></div></div></div>
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us-gaap Advertising Expense
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us-gaap Amortization Of Financing Costs And Discounts
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18583
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AmortizationOfIntangibleAssets
175278
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
375579
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
339132
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Assets
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-28429
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-726993
CY2016Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
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0.88
CY2015Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.25
CY2016Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2015Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2016Q2 us-gaap Common Stock Value
CommonStockValue
65058
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3352114
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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="display: inline; font-family: times new roman; font-size: 10pt"><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="display: inline; font-family: times new roman; font-size: 10pt"><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 six-month period ended June 30, 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 June 30, 2016 or December 31, 2015.&nbsp;&nbsp;The Company does not require any collateral from its customers.</div></div></div></div></div></div></div></div></div></div>
CY2016Q2 us-gaap Cost Of Revenue
CostOfRevenue
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CY2015Q2 us-gaap Cost Of Revenue
CostOfRevenue
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us-gaap Cost Of Revenue
CostOfRevenue
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us-gaap Cost Of Revenue
CostOfRevenue
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CY2016Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
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CY2015Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
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CY2016Q2 us-gaap Deferred Revenue
DeferredRevenue
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CY2015Q4 us-gaap Deferred Revenue
DeferredRevenue
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CY2016Q2 us-gaap Deferred Revenue Current
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CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
10436
CY2016Q2 us-gaap Depreciation
Depreciation
96749
CY2015Q2 us-gaap Depreciation
Depreciation
83996
us-gaap Depreciation
Depreciation
174062
us-gaap Depreciation
Depreciation
156498
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
549641
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2015Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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CY2016Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
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us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2016Q2 us-gaap Gross Profit
GrossProfit
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CY2015Q2 us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
7904495
us-gaap Gross Profit
GrossProfit
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us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-365461
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
153622
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-7500
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-149341
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-8076
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
196268
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
500000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
CY2016Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
221683
CY2015Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
62893
us-gaap Interest Expense Debt
InterestExpenseDebt
434232
us-gaap Interest Expense Debt
InterestExpenseDebt
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us-gaap Interest Paid
InterestPaid
419802
CY2014Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
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CY2016Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
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CY2016Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
CY2015Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
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CY2016Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
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CY2015Q4 us-gaap Liabilities
Liabilities
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us-gaap Interest Paid
InterestPaid
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CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2016Q2 us-gaap Liabilities
Liabilities
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CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2016Q2 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2014Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1855093
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
-3354142
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-333265
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-333265
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1759920
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-916506
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-210208
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-413298
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2015Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
4095657
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
5592893
us-gaap Operating Expenses
OperatingExpenses
8407703
us-gaap Operating Expenses
OperatingExpenses
11056645
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-123057
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1718414
us-gaap Operating Income Loss
OperatingIncomeLoss
-503208
us-gaap Operating Income Loss
OperatingIncomeLoss
-3300270
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
110285
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
124882
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-22309
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
8571
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-29497
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
2028
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-22309
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-29497
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2028
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-22309
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8571
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-29497
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2028
CY2016Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
588160
CY2015Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
129678
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7585
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
115473
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1030456
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
368041
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
485442
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
239921
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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="display: inline; font-family: times new roman; font-size: 10pt"><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="display: inline; font-family: times new roman; font-size: 10pt"><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; text-decoration: underline;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reclassification</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 balance sheet, and related footnotes, for the year ended December 31, 2015 has been reclassified to reflect the adoption of ASU 2015-03 which changes the presentation of debt issuance costs in financial statements and requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset.</div></div></div></div></div></div></div></div></div></div>
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
5642
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-333265
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-1759920
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3811215
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2446591
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1956864
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4943
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-206749
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
62777
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
87777
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
973980
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1326410
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2004436
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2201792
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
500000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26183118
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25266612
CY2016Q2 us-gaap Revenues
Revenues
6003287
CY2015Q2 us-gaap Revenues
Revenues
5465824
us-gaap Revenues
Revenues
11867305
us-gaap Revenues
Revenues
10665486
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62835140
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
874422
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1915053
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1867300
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4048977
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2247255
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2351430
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4535967
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4805876
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
22500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
650000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2020000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
390000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.52
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65069327
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
-1533860
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-1782858
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="display: inline; font-family: times new roman; font-size: 10pt"><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="display: inline; font-family: times new roman; font-size: 10pt"><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 intangible 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></div></div></div></div></div></div>
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65069327
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62833091
CY2016Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
65069327
CY2015Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
62835140
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
65069327
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
62833091
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65069327
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62835140
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65069327
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62833091

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