XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Ting Virginia LLC [Member]        
Investing activities:        
Remaining payment for the acquisition of Ting Virginia, LLC., net of cash of $21,423 (note 8) $ (357,493)
Net income for the period 4,741,279 3,159,457 13,250,303 8,278,395
Depreciation of property and equipment 457,433 387,956 1,305,296 988,811
Amortization of debt discount and issuance costs 8,298 8,298
Amortization of intangible assets 292,547 68,529 649,526 194,197
Impairment of indefinite life intangible asset 2,866 18,550 27,745 68,848
Deferred income taxes (recovery) 926,733 (53,085) 1,630,076 (1,019,254)
Amortization of deferred rent 13,783 7,370 30,447 17,917
Disposal of domain names 4,760 2,866 25,581 20,551
Other income (128,820) (386,460)
Loss (gain) on change in the fair value of forward contracts (20,114) 99,052 (292,133) 160,394
Stock-based compensation 195,439 128,575 585,854 378,228
Accounts receivable (1,623,719) 262,149 (4,435,250) (994,889)
Inventory (217,741) (123,047) (598,658) (281,491)
Prepaid expenses and deposits 419,939 1,000,287 (939,935) (892,105)
Prepaid domain name registry and ancillary services fees (1,271,948) 149,905 (5,170,911) (2,068,871)
Income taxes recoverable 363,244 1,152,410 1,553,524 1,935,426
Accounts payable 681,303 195,002 (1,993) 202,578
Accrued liabilities (581,495) 406,920 (1,429,069) 1,517,453
Customer deposits (943,579) (199,695) 90,970 253,223
Deferred revenue 1,666,291 140,850 6,772,663 3,185,946
Accreditation fees payable 14,059 (20,621) 51,215 11,425
Net cash provided by operating activities 5,000,558 6,783,430 12,727,089 11,956,782
Proceeds received on exercise of stock options 48,376 189,914 107,672 737,369
Payment of tax obligations resulting from net exercise of stock options (76,537) (318,770)
Excess tax benefits from share-based compensation expense 268,565 312,091 714,764 1,400,793
Repurchase of common stock (9,977,495) (7,180,257) (18,179,176)
Proceeds received on loan payable 10,989,583 16,989,583 3,500,000
Repayment of loan payable (9,062,500) (9,500,000)
Payment of loan payable costs (383,463) (516,963)
Net cash provided by (used in) financing activities 1,784,024 (9,475,490) 296,029 (12,541,014)
Additions to property and equipment (2,091,368) (710,342) (3,923,105) (2,051,124)
Gross proceeds from the waiver of rights to .online registry 6,619,832
Acquisition of intangible assets (note 5) (74,400) (6,324,970)
Net cash provided by (used in) investing activities (2,165,768) (710,342) (10,248,075) 4,211,215
Increase in cash and cash equivalents 4,618,814 (3,402,402) 2,775,043 3,626,983
Cash and cash equivalents, beginning of period 5,879,482 15,300,762 7,723,253 8,271,377
Cash and cash equivalents, end of period 10,498,296 11,898,360 10,498,296 11,898,360
Supplemental cash flow information:        
Interest paid 93,560 78,988 260,506 175,290
Income taxes paid, net 927,826 512,954 2,507,699 2,457,225
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for $ 89,860 $ 63,499 $ 89,860 $ 63,499