CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 515,963 $ 2,070,693
Accounts receivable, net 1,839,474 2,510,530
Short-term investments 500,000
Incremental direct costs 547,616 1,023,916
Prepaid license fee 112,500
Prepaid expenses and other current assets 229,689 411,592
Total current assets 3,132,742 6,629,231
Property and equipment, net 313,622 444,398
Capitalized technology, net 240,463 456,523
Goodwill 20,201,190 20,201,190
Intangible assets, net 9,900,539 12,051,839
Merchant reserve 1,426,927 1,260,849
Security deposits 189,375 383,786
Other assets 1,049,026
Total assets 36,453,884 41,427,816
Current Liabilities:    
Accounts payable 5,359,151 4,465,941
Accrued expenses 1,519,491 837,712
Deferred revenue 6,406,542 9,966,893
Customer deposits 112,500
Promissory note 445,000 445,000
Total current liabilities 13,730,184 15,828,046
Deferred tax liability 3,724,816 4,942,908
Line of credit- Master Credit Facility, net of unamortized debt issuance costs 827,679
Deferred rent 55,434 45,155
Other liabilities 47,367 426,267
Total liabilities 18,385,480 21,242,376
Commitments and contingencies
Stockholders' Equity:    
Common stock, $0.01 par value; 45,000,000 shares authorized; 1,815,232 shares issued as of September 30, 2016 and December 31, 2015; and 1,808,628 shares outstanding as of September 30, 2016 and December 31, 2015 18,097 18,097
Additional paid in capital 64,956,199 63,554,194
Accumulated deficit (46,868,775) (43,349,734)
Treasury stock, at cost; 1,048 shares at September 30, 2016 and December 31, 2015 (37,117) (37,117)
Total stockholders' equity 18,068,404 20,185,440
Total liabilities and stockholders' equity $ 36,453,884 $ 41,427,816