|
Consolidated Balance Sheets (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 3,076,708 |
$ 8,235,566 |
| Accounts receivable, net |
15,748,394 |
22,731,678 |
| Inventory, net |
1,460,876 |
4,633,213 |
| Deferred tax assets |
6,671 |
63,617 |
| Other current assets |
1,297,893 |
2,224,547 |
| Total current assets |
21,590,542 |
37,888,621 |
| Property and equipment, net |
5,685,797 |
3,548,985 |
| Intangible assets, net |
11,518,997 |
38,782,000 |
| Goodwill |
0 |
28,642,398 |
| Loan origination fees |
743,082 |
971,726 |
| Other assets |
250,363 |
496,879 |
| Total assets |
39,788,781 |
110,330,609 |
| Current liabilities: |
|
|
| Accounts payable |
4,697,465 |
6,606,200 |
| Revenue share liabilities |
3,861,967 |
3,998,794 |
| Accrued liabilities |
4,306,255 |
4,510,848 |
| Loss on long-term contract |
2,648,644 |
|
| Deferred revenue |
9,358,510 |
10,074,420 |
| Total current liabilities |
24,872,841 |
25,190,262 |
| Notes payable - non current (related party) |
14,000,000 |
8,000,000 |
| Warrant liability |
1,447,308 |
4,573,123 |
| Deferred revenue - non current |
1,478,041 |
990,989 |
| Deferred tax liabilities |
|
6,430,853 |
| Loss on long-term contract - non-current |
1,035,804 |
|
| Capital leases and other |
843,030 |
392,558 |
| Total liabilities |
43,677,024 |
45,577,785 |
| Commitment and Contingencies |
|
|
| Stockholders' equity (deficit): |
|
|
| Common stock, $.0001 par value, (250,000,000 shares authorized; 12,467,756 and 11,920,583 shares issued, 12,167,756 and 11,920,583 shares outstanding, at December 31, 2014 and December 31, 2013, respectively.) |
1,247 |
1,192 |
| Additional paid-in capital |
82,089,504 |
77,452,317 |
| Accumulated comprehensive income (loss) |
6,211 |
299,618 |
| Retained earnings (accumulated deficit) |
(85,505,205) |
(13,000,303) |
| Treasury stock (300,000 shares) |
(480,000) |
|
| Total stockholders' equity (deficit) |
(3,888,243) |
64,752,824 |
| Total liabilities and stockholders' equity (deficit) |
$ 39,788,781 |
$ 110,330,609 |