CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
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| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||
| Revenues | $ 34,349,762 | $ 1,368,986 | $ 36,409,438 | $ 5,462,855 |
| Expenses | ||||
| Cost of revenues | 15,467,763 | 3,860,210 | 18,107,740 | 8,188,375 |
| Amortization of patents and website | 1,961,411 | 3,029,000 | 3,987,310 | 5,627,461 |
| Compensation and related taxes | 1,120,924 | 1,087,058 | 2,154,270 | 2,668,132 |
| Consulting fees | 364,836 | 329,081 | 645,612 | 1,225,624 |
| Professional fees | 498,212 | 578,920 | 903,705 | 1,348,535 |
| General and administrative | 223,130 | 284,976 | 428,513 | 504,457 |
| Goodwill impairment | 83,000 | 0 | 83,000 | 0 |
| Patent impairment | 620,696 | 766,498 | 993,890 | 766,498 |
| Total operating expenses | 20,339,972 | 9,935,743 | 27,304,040 | 20,329,082 |
| Operating income (loss) | 14,009,790 | (8,566,757) | 9,105,398 | (14,866,227) |
| Other income (expenses) | ||||
| Other income (expense) | (17,745) | 7,439 | (31,532) | 7,439 |
| Foreign exchange gain (loss) | (69,201) | 1,899 | (62,223) | (37,503) |
| Change in fair value adjustment of Clouding IP earn out | 169,172 | 2,304,301 | 167,830 | 2,304,301 |
| Interest income | 931 | 1,862 | 2 | |
| Interest expense | (844,407) | (1,577,083) | (1,851,256) | (2,508,623) |
| Total other income (expenses) | (761,250) | 736,556 | (1,775,319) | (234,384) |
| Loss from continuing operations before benefit for income taxes | 13,248,540 | (7,830,201) | 7,330,079 | (15,100,611) |
| Income tax benefit (expense) | (5,345,983) | 3,327,505 | (3,320,935) | 5,816,344 |
| Net Income (Loss) | 7,902,557 | (4,502,696) | 4,009,144 | (9,284,267) |
| Net (Income) Loss Attributable to Noncontrolling Interests | 3,722 | 3,722 | ||
| Net Income (Loss) Attributable to Common Shareholders | $ 7,906,279 | $ (4,502,696) | $ 4,012,866 | $ (9,284,267) |
| Income (Loss) per common share: | ||||
| Basic (in dollars per share) | $ 0.53 | $ (0.32) | $ 0.27 | $ (0.67) |
| Fully Diluted (in dollars per share) | $ 0.49 | $ (0.32) | $ 0.25 | $ (0.67) |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
| Basic (in shares) | 14,994,697 | 13,998,563 | 14,980,919 | 13,937,872 |
| Diluted (in shares) | 16,031,564 | 13,998,563 | 16,017,786 | 13,937,872 |
| Other income (loss) | ||||
| Foreign currency translation adjustments | $ (150,171) | $ 319,905 | $ 97,256 | $ (630,334) |
| X | ||||||||||
- Definition Represents information pertaining to change in fair value adjustment of earnout liability. No definition available.
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| X | ||||||||||
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of effect of exchange rate changes on cash balances held in foreign currencies. Excludes cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- References No definition available.
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| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support. No definition available.
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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